Reward Analyst Design, Advisory & Governance

at  Human Capital

INTRODUCTION

Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people, communities and businesses.

REQUIREMENTS

• A postgraduate qualification in Financial Management, Human Resources or related field.
• Formal training in reward fundamentals (such as GRP certification).
• 8-10 years of reward or equivalent experience with an in-depth knowledge of core reward terminology and best practices at a senior level.
• Experience in Business & Financial modelling.
• Experience in policy & framework design.
• Formal training in reward fundamentals (such as GRP certification).
• Must have the ability to write clear communication that is tailored to the specific audience.
• Must be comfortable formulating and analysing data from a variety of sources.
• Have solid consultation skills and the ability to seek out information and provide quality advice.

ROLE PURPOSE

To assist with the development and management of a best practice framework in support of the human capital and people practices strategy for the Rewards function within the Group. This must be achieved through gathering and incorporating research intelligence and utilising best-practice methodologies and design, implement and facilitate appropriate interventions, practices, processes and quality standards to obtain Group Reward objectives.

DUTIES & RESPONSIBILITIES

• In collaboration with the Manager Reward Design, Advisory & Governance, develop, plan and implement the strategy and operating model of rewards in response to the Group strategy.
• Work collaboratively with the other divisions to provide outstanding, effective and efficient reward services.
• Accountable for the design and implementation of value-add reward practices.
• Analyse reward policies in relation to similar jobs in comparable industries or geographic areas and recommend changes as appropriate to establish and maintain competitive pay rates and ensure equity.
• Conduct job analysis to determine appropriate market pricing, review and approve salary increases and advise management on reward actions for employees.
• Develop pay systems that are industry competitive and enable management to focus on reward individual and group performance.
• Design and drive practice excellence and implement reward practice reporting tools that will enable a higher quality of line management decision making regarding people in the business.
• Participate in, contribute to and influence the Group`s practice owners with regard to the design of the integrated reward practice frameworks and drive adoption of practice, strategy and framework.
• Stay abreast of best practices and/or new developments in reward disciplines and drive adoption as deemed appropriate.
• Conduct benchmarking and annual salary increase analyses and ensure accurate reward incorporation of salary surveys and related results.
• Support the annual remuneration review process to ensure effective, accurate and cost-effective implementation.
• Identify, monitor and manage reward related risks in partnership with business heads.
• Provide authoritative specialist expertise, judgment and advice to internal clients.
• Continuously strive to enhance and improve the reward processes.
• Identify reward process issues, analyse external benchmarks, and develop solutions to determine the best operational course of action.
• Contribute and ensure compliance to the Department of Labour legislative reporting, governance, relevant legislation and risk mitigation strategies.
• Design and evaluate reward programs in support of business goals and employees’ needs, which integrate with our overall employment value proposition and support our values.
• Assess competitiveness of reward strategy and make recommendations for new programs or enhancement to current programs.
• Research market trends, legislation, and compensation surveys to make recommendations for policy change and competitive positioning as appropriate.
• Develop proposals and deliver presentations about reward programs/initiatives to influence and educate managers.