Senior Specialist Remuneration & Benefits

SUMMARY:
To provide specialist support in the implementation and maintenance of the Bank’s remuneration and benefits frameworks, policies, and practices, ensuring alignment with legislative requirements, governance standards applicable to state-owned entities, and the Bank’s strategic objectives.

POSITION INFO:

Job purpose:

To provide specialist support in the implementation and maintenance of the Bank’s remuneration and benefits frameworks, policies, and practices, ensuring alignment with legislative requirements, governance standards applicable to state-owned entities, and the Bank’s strategic objectives.

The incumbent is responsible for conducting detailed data analysis, developing remuneration dashboards and reports, and providing insights to inform remuneration decisions, workforce planning, and submissions to management and governance committees. The role includes administering salary benchmarking, annual pay review processes, and incentive schemes, as well as participating in remuneration surveys to ensure market competitiveness and internal equity.

Strong analytical capability, advanced Excel proficiency, and experience in data visualisation are essential to produce accurate, insightful, and compliant remuneration information that supports decision-making across the organisation.

Key Performance Areas

Provide support on the implementation and maintenance of remuneration and benefits policies, frameworks, and processes

• Support implementation of remuneration and benefits policies and frameworks across the organisation.
• Ensure all remuneration and benefits processes are executed accurately and within approved timelines.
• Maintain compliance with the Remuneration Policy, SOE governance frameworks (e.g. DPE Guidelines), and internal controls.
• Keep all remuneration and benefits records current and auditable.
• Assist in periodic policy reviews and updates.

Conducts remuneration data analysis, salary benchmarking, and survey participation

• Conduct market and salary benchmarking exercises to ensure internal and external equity.
• Analyse remuneration data and industry trends to inform organisational reward strategies.
• Develop remuneration dashboards and reports using advanced Excel or data visualisation tools (e.g. Power BI).
• Participate in external salary and benefits surveys and submit accurate data within deadlines.
• Provide analytical insights and recommendations for decision-making.

Supports governance and compliance monitoring

• Ensure data accuracy, analytical clarity, and alignment with governance requirements.
• Track and report on all audit findings, compliance actions, and governance updates.
• Maintain effective documentation for governance and audit purposes.

Administers and supports job evaluation and profiling processes

• Job evaluations conducted using approved methodology (e.g., Peromnes, Patterson, Hay).
• Job profiles and grading documentation maintained and updated.
• Turnaround times for evaluations and grading queries met.
• Alignment between job grading outcomes and remuneration structures maintained.

Provides analytical and technical support in the implementation of incentive programmes, linked to performance management

• Provide analytical and technical support during incentive cycles.
• Prepare accurate incentive and performance-based remuneration calculations.
• Maintain data integrity across performance systems and spreadsheets.
• Provide accurate models that are flexible and align to policy provisions and budgets.

Stakeholder Engagement and Advisory Support

• Provide remuneration and benefits advisory support to managers and employees.
• Build and maintain strong relationships with internal stakeholders.
• Ensure effective communication on remuneration policies, processes, and decisions.
• Respond to remuneration and benefits queries within agreed SLAs.
• Promote awareness and understanding of remuneration governance.

Qualifications and Experience

• Bachelor’s Degree in Human Resources Management, Industrial Psychology, Finance, or Commerce.
• Global Remuneration Professional (GRP) certification
• Advanced Excel Courses/Certifications
• 5 years’ remuneration and Benefits Experience in State Owned Entity, Finance or Banking Environment
• 5 years’ remuneration/HR Data Analysis and building remuneration models, dashboard and reports
• 3 years advanced Excel (formulas, pivot tables, data modelling)
• 3 years’ Salary benchmarking, job evaluations and job profiling
• 2 years’ experience with dashboard tools (Power BI or similar)

Critical Competencies

• Remuneration and Benefits Administration
• Job Evaluation and Grading
• Remuneration Data Analysis and Reporting
• Market Benchmarking and Surveys
• Performance and Incentive Management Support
• Report Writing and Presentation
• Policies and Procedures
• Governance, Compliance and Legislation

Additional Requirements

• Knowledge of Excel and Analytical
• Knowledge of the Company Act
• Knowledge or remuneration and benefits legislation and guidelines
• Knowledge of Public Sector Governance (PFMA, DPE Remuneration Guidelines, King IV/King V).
• Knowledge of the State Owned Enterprises Remuneration Guidelines
• Knowledge of salary benchmarking and remuneration principles