Reward, Compensation & Benefits Senior Manage at Smollan

DESCRIPTION

We are hiring a Reward, Compensation & Benefits Senior Manager in Group Services. We are looking for an experienced Reward Professional who has in depth knowledge, practical implementation experience, and strong leadership competence to oversee and manage the Reward capability for Smollan. This role will report directly into our Finance Operations Executive.

As a Reward, Compensation & Benefits Senior Manager you will be responsible for the following:

Compensation, Reward and Benefits Management

• Develop and implement global compensation and benefits strategies aligned to business objectives and Smollan’s culture and values.
• Partner with stakeholders to design, develop, and implement a performance-based compensation structure.
• Develop and manage global compensation and benefits programs, including base pay, incentives, equity, and benefits.
• Lead and facilitate global initiatives aimed at implementing changes or making improvements to global compensation practices to ensure alignment with Smollan’s strategic objective.
• Ensure compliance with legal and regulatory requirements related to compensation and benefits.
• Conduct market research to ensure that compensation and benefits packages are competitive and relevant in all regions where the business operates.
• Continually monitor and research remuneration and benefits surveys.
• Ensure accurate bi/annual salary survey reports and comparative benchmarking reports bi/annually are compiled and shared with relevant stakeholders.

 Remuneration Models

• Develop and review existing costing/structuring remuneration models to ensure that these are appropriate and aligned to the requirements of the business on a global level.
• Research and analyses salary build-ups through market analysis guided by best practice.
• Review extension of offers of employment and related clarification for all E-band and above, and expat related appointments and matters.
• Investigate and advise on variable pay frameworks.
• Provide guidance and input into all matters relating to relative expertise.

 Financial Management of Compensation and Benefits

• Identify opportunities to optimise compensation and benefits spending.
• Review and ensure best prices while maintaining quality and compliance.
• Streamline processes to reduce administrative costs and increase efficiency.
• Regularly monitor compensation and benefits costs to ensure that they remain within budget.
• Implement cost-saving measures such as reducing benefits that are underutilized, not valued by employees, and explore new benefits that offer similar value at a lower cost.

Tax Management

• Ensure compliance to legal and regulatory requirements related to compensation and benefits.
• Carry out tax calculations for employees relative to their salary and relevant tax laws.
• Oversee and manage tax reporting.
• Manage tax equalization and protection programs for employees who work abroad.

 Payroll Management

• Ensure payroll processes are compliant with relevant regulations, such as tax laws, labour laws, and data protection regulations.
• Manage and oversee payroll deductions and benefits, such as health insurance premiums, retirement plan contributions, and paid time off.
• Provide guidance and training to the business on payroll policies, programs, and processes.
• Conduct audits of payroll processes to ensure they are implemented and administered correctly.
• Ensure payroll processes are aligned with the company's diversity, equity, and inclusion goals.

Compliance and Risk Management

• Develop and implement internal controls policies related to compensation and benefits.
• Identify control weaknesses related to compensation and benefits programs and take steps to address them.
• Carry out internal audits to ensure compliance with policies.
• Conduct risk assessments of compensation and benefits programs to identify areas of potential risk and develop strategies to mitigate those risks.
• Ensure that compensation and benefits policies are understood by all, highlighting stakeholder responsibilities and obligations.

REQUIREMENTS

To qualify for this role, you should have:

• Bachelor’s degree/NQF Level 7 in, Human Resources, Finance, or related field.
• Post-graduate degree preferred.
• 8-10 years’ experience working with Compensation and Benefits, with at least 5 years at a senior management level at a global or multi-national organisation.
• Experience in designing and implementing compensation and benefits programs required.
• Knowledge of compensation and benefits practice and trends.
• Knowledge of legal and regulatory requirements related to compensation and benefits in different regions.
• Knowledge of market research methodologies.
• Strategic thinking.
• Problem-solving skills.
• Commercial acumen.
• Business acumen.