Your time is now to be your exceptional best at Old Mutual!
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question
The role requires an experienced Senior Reward Professional to shape and lead the Reward Operations (TGP, STI and WD) portfolio for Old Mutual Group.
Key Result Areas:
Reward Strategy and Frameworks
- Provides key input to the development and review of a future-fit Group Reward Strategy for the Old Mutual Group across multiple geographies.
- The Senior Reward Manager is responsible for the development and design of leading reward frameworks and processes in support of the Human Capital and Total Reward Strategy.
- The role will lead practice thought leadership and implementation enterprise-wide and will partner and deliver on strategic reward projects in their practice areas.
- Develops frameworks, policies and procedures based on best market practice, local legislation, and regulation.
- Conducts relevant audits and monitors application of governance standard and policy across the Group.
Practice initiatives and implementation
- Ensures alignment and integration of responsible practice (TGP, STI, Annual Review and WD) with other HC practices and ensures that the impacts are accounted for across multiple geographies.
- Responsible for the design of solutions by, amongst others, leveraging the scale of solutions across OML.
- Collaborates with other functional competencies (e.g. finance and risk, segments, HC COEs, Centre of Service) in translating the Total Reward Strategy for the Group into actionable TGP and STI programs that can be implemented across the business.
- Leads and co-ordinates key reward projects across the group that facilitate alignment to Group Reward Policies and standards which drive reward solutions for the business.
- Leads efficiencies and new ways of work to simplify complex process that add value.
- Ensures minimum standards and practice notes are in place for TGP and incentive structures that are specific to subsidiaries and countries.
- Ensure that non-aligned STI structures are approved appropriately, and that due diligence is done to understand rationale for nuances.
- Ensure that there is oversight and governance to manage sales incentive schemes across the business, appropriate standards and principles are consistently applied across the business. Work closed with segment business teams on sales incentive benchmarking and design and provide group guidance and approval.
Advisory and Consulting Support
- Collaborates and effectively partners with HC Executives and teams across the business to not only provide practice expertise and advice but to also assist in solving business challenges.
- Focuses on education, strong communication and creating understanding of practice areas for all stakeholder groups (internal and external) including communities of practice.
- Responsible for ensuring a strong partnership and empowerment of segment reward and HC to execute on practice.
Systems, tools and analytics
- Lead innovation and integration across the reward practice and HC value chain
- Generates insights from Reward Analytics to inform policy and implementation decisions, measure ROI and effectiveness of programs.
- Provide the necessary tools, reporting and analytics in partnership with People Data Analytics or within practice.
- Ensures that salary surveys and benchmarking information are readily available and optimized for use.
- Ensure efficiency in vendor relationships across the group, ensuring scale is leveraged where possible.
- Practice lead for Workday for the Reward function, coordinating workday efficiencies and requirements for the entire function.
- Work closely with the Workday technical team in communicating reward requirements and ensuring delivery within quality standards.
- Work closely with all Reward disciplines to ensure that Workday integration across all Reward owned modules are align and are optimally structured.
- Ownership for the Advanced Compensation Module for the Group, ensuring a deep level of understanding and ownership of practice and Workday enablement and interfaces. Work with the Reward team to ensure a seamless process for the annual remuneration review.
- Use of data and analytics to provide lead and lag indicators for decision making and reporting.
Is responsible for managing the Reward Operations practice which include guaranteed pay, short term incentives, annual review and other reward processes, Reward Analytics and Reporting and Workday including and not limited to:
- Setting of TGP, Non-TGP, Base Pay & Allowance frameworks and structures (all role sizes excluding Exco)
- Ensure relevant and market benchmark guaranteed pay and allowance policies that are fit for purposes
- Salary surveys & Benchmarking for multiple markets
- Payline development for all markets and subsidiaries (all role sizes excluding Exco)
- Plan and manage the annual salary review process and union engagement
- Salary Structuring, systems and tools
- Offer and internal salary movement guidelines.
- EEA4 & Equal Pay analysis and reporting.
- Fair & Responsible Pay analysis and income equality reporting.
- STI Structures design, approval, implementation (Group, Subsidiaries & Countries)
- Alignment of the Group STI scheme across the business
- Other incentive/ segment level structures
- Sales Incentives (Benchmarking & Oversight)
- Technical lead for the Annual Review Process
- WorkDay Lead for Reward and Annual Compensation implementation and enhancements.
Qualification and experience:
- CA(SA) or Actuarial student with strong financial acumen and experience
- Global Remuneration Professional (GRP) is advantageous
- Preferably with a SARA Accreditation as a Chartered Reward Specialist.
- Experienced senior manager with at least 5-8 years’ total reward experience with demonstrated knowledge of reward operations and analytics
- Listed company experience, preferably in Financial services.
- Management consulting change and project management experience is advantageous.
- Demonstrated understanding of local and international best practices.
- Demonstrated competence in project management.
- Demonstrated business acumen including a sound understanding of business finances.
- Highly numerate.
- Understanding of regulatory requirements & legislation (e.g. BCEA, Labour Relations Act, Tax Act, King Code, Companies Act, applicable local legislation, Equal Pay for Equal Work)
- Demonstrated experience in remuneration survey analysis and application
- Demonstrated experience in the design and development of strategy, frameworks and policies.
- Agile mindset and responsible to quick delivery and turnaround
- Strong ability to collaborate both internally and externally. Has significant external networks of beneficial relationships within the Reward field.
- Strong written and verbal communication and presentation skills.
- Places the customer first and strives to deliver high quality reward solutions to the business.
- Innovative and future focused in designing and delivering reward solutions.
- Leads with influence and is able to achieve results without having direct managerial authority.
- Has high-energy and is resilient to change and challenges.
- Strives to continuously grow in technical and leadership ability.
- Self-driven and thrives in high change environments.
Accountable, Business Acumen, Communication, Facilitation, Financial Acumen, People Management, Strategy Development, Taking Initiative, Teamwork, Technical Knowledge
Bachelors Degree (B) (Required)
06 July 2021