Group Reward Specialist at Aspen Pharma Group

ROLE PURPOSE:

• Reporting to the Group Head: Reward & Performance, the incumbent will proactively support, develop and maintain Aspen Remuneration and Benefits, including, Job Grading. This position will play a fundamental role in Compensation and Benefits. Participation on the Board of Trustees for the Aspen Retirement Fund and Malcor Medical Aid Fund and contribution thereto.

KEY PERFORMANCE AREAS:
Benchmarking

• Benchmarking and working with service providers to obtain market data to inform compensation decisions.
• Benchmarking of Aspen remuneration levels by country and on a relative level between countries.

Remuneration

• Review remuneration proposals for job offers at Holdings.
• Identify and escalate remuneration gaps between current and desired states.
• Manage the system budgets for merit and bonus proposals / allocations to various Business Units and assist with final balancing and reconciliation of budgets and actuals and ensure that they are accurate.
• Ensure TCOE data of employees are accurately maintained and accessible as required.
• Ensure existing processes are sound and that information is securely protected.
• Work with payroll to develop accurate package structuring and pay simulation tools for South Africa and ensure all business units globally implement equivalent simulation tools.
• Provide input into the global compensation and benefits philosophy and framework by possessing a thorough understanding of the current and future state of compensation and benefits structure across the organisation and by benchmarking best practice as accessed from SA and international company published remuneration reports
• Contribution to the design of global mobility and retention programmes to support Talent Management teams in ensuring workforce sustainability and readiness through organisational change.

Increase process

• Development of budgets and market information to support the annual remuneration increase processes and accessing and collating of the proposed remuneration for key employee groups including but not limited to the Holdings Business Unit and Group Executives

Incentive Schemes

• Project Manage Employee eligibility and other elements of the Aspen Incentive schemes and merit process globally.
• Provides input into the design of incentive schemes.

Pay Scales

• Custodian of annual pay scales to ensure internal and external equity. Ensure Merit increases, and benefits eligibility are aligned to policy

Legislation

• Ensure compliance and interpretation of the Wage Agreement for the bargaining unit employees.

Employment Equity

• Analyse Employment Equity AA2 data to understand the reasons for the disparity. Participate in the relevant meetings for the overall Employment Equity submission.

Policy & Compliance

• Remuneration and Benefits Policy formulation and maintenance to ensure current reward and benefits practice is recorded.
• Manage compliance to the Remuneration and Benefits Policy.

Wellness

• To create an environment of work-life effectiveness through the establishment and deployment of meaningful wellness programmes

Pension Fund

• Participate in the Aspen Pharmacare Provident Fund Board of Trustee meetings and keep abreast with best practices in this field.

Board of Trustee Committee

• Investment Committee
• Death Benefits Committee

Insurance Benefits Meetings

• Participate in the Aspen Pharmacare Provident Fund Disabilities meetings with the responsibility to ensure that all Business Units are managing disability cases consistently and timeously.

Medical Aid Fund

• Participate in the MALCOR Medical Aid Board of Trustee meetings. Assist with queries to give understanding of issues for the formulation of the benefits year on year.

Induction

• Present Remuneration and Benefits information at the Aspen Holdings new employees Induction.

Job Grading

• Support the Group Head: Rewards and Performance to manage the Job Grading process – implement and maintain the policy and process. Alignment of remuneration and benefits to grades.

EDUCATION QUALIFICATIONS AND EXPERIENCE:

• Relevant diploma or degree. Global remuneration professional (South African Reward Association).
• Minimum of 5 years’ experience within a reward and benefits specialist function.
• Sound Retirement Funds and Medical Aid Funds experience (serving on Board of Trustees preferable) for a minimum of 5 years. Retirement Fund Principal Officer experience preferred.
• Payroll experience and knowledge desirable. Data analysis critical to understand adherence to policy.
• International rewards experience preferred.
• Strong project management and systems experience. Strong SOP and Guideline skills.
• Demonstrable modelling and analytical ability through development of financial models and interpretation of information.
• Job Grading experience.

SKILLS AND ATTRIBUTES:

• Effective planning, organising and co-ordinating
• Highly numerate
• Excellent analytical skills
• Strong capabilities in logical reasoning
• Results Driven
• Effective problem-solving and decision making
• Commercial and strategic awareness
• Independent and self-directed
• Influencing capabilities – drive execution
• Effective interpersonal skills
• Ability to communicate effectively
• Attention to detail
• Ability to think strategically and innovatively around total rewards.
• Policy creation and maintenance Skills.

KNOWLEDGE:

• Advanced MS Excel and PowerPoint skills
• Vast Job Grading experience.
• Comprehensive knowledge of payroll reports and interrogation of such data.
• Comprehensive knowledge of Pension Rules.
• Deep knowledge of Medical Aid Fund Rules
• Employment Equity submission experience
• A solid understanding of local and an awareness of global regulatory reward frameworks, legislation and best practice standards.
• Deep technical knowledge of best practice design principles for variable pay schemes.
• Financial modelling expertise to build scenario models of company value drivers.

ASPEN COMPETENCIES:
Business

• Performance Driven
• Create the Future
• Make good decisions

People

• Dealing with ambiguity
• Communicate effectively
• Lead and influence others

Self

• Continuously grow and develop
• Contribute special expertise
• Take action with integrity