Senior Reward Specialist (VP) at Absa South Africa

Job Summary

• To provide advice and support in practice formulation and associated best practice improvement tactics; enabling the provision of specialist remuneration expertise.

Job Description

• Reward Advisory Support: Provide expert advice and recommendations to line managers and human capital stakeholders on reward-related matters within the Group framework and policies. This includes advisory support for reward related aspects of South African specific S197 and S189 processes.
• Remuneration Strategy Execution: Implement the Group Remuneration strategy within the Cluster, ensuring alignment with policies and procedures across South Africa and the African markets where Absa operates.
• Pay Review: Lead the annual pay review process, guiding Human Capital (HC) and senior management through the validation of data, distribution and analysis of increase and incentive pools, and communication of pay review outcomes.
• Data Insights & Communication: Provide actionable data insights and craft data-driven narratives that are informed by market trends, benchmarking, and internal analyses to support Human Capital (HC) and senior management in making strategic reward decisions. Present these insights in a clear, concise, and compelling manner to facilitate informed decision-making.
• Training: Upskill Human Capital (HC) and line managers on reward methodologies, market data utilization and communication of reward outcomes to colleagues on an on-going basis.
• Governance & policy management: Manage the governance approval process for hires and reward programs, ensuring compliance with Group policies. Draft or update policies, standards, and procedures to support Governance requirements.

Preferred requirements

• Minimum requirement of a Degree or an Advanced Diploma (NQF 7) or the equivalent.
• Minimum 5 years’ experience in a Reward focused or similar role.
• Reward management experience gained through Reward consulting or in Financial Services, preferably Corporate & Investment Banking (CIB) or Asset Management.
• Global reward management experience, preferably across African markets.

Key Skills and Competencies:

• Expert knowledge of reward principles, practices, and trends particularly within a corporate and investment banking context and across Africa.
• Strong analytical and problem-solving skills, with the ability to analyze and interpret large sets of data to inform reward strategies.
• Excellent verbal and written communication and interpersonal skills, with the ability to influence and persuade stakeholders at different levels and manage relationships with senior stakeholders, including executives and front-office leaders.
• Project management and planning skills, with the ability to deliver results within deadlines and budgets.
• Teamwork and collaboration skills, with the ability to work effectively with diverse groups, stakeholders across functions, and cultures.
• High level of attention to detail and precision in managing complex data and ensuring accuracy in the implementation of reward initiatives.

Ideal Attributes:

• Strategic and innovative thinker, with the ability to align reward initiatives with business objectives and values.
• Customer-focused and service-oriented, with the ability to provide tailored and pragmatic solutions to reward challenges.
• Proactive and self-motivated, with the ability to take ownership and drive continuous improvement.
• Ethical and trustworthy, with the ability to maintain confidentiality and integrity.
• Resilient with the ability to thrive in a fast-paced, high-pressure environment, adapting to evolving business needs

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)