Senior Reward Manager at Old Mutual South Africa

Job Description

• The role requires an experienced Reward Professional to shape and drive the Reward agenda for Old Mutual’s Africa Regions (OMAR) portfolio)

Working in a matrix comprising the OMAR portfolio Human Capital Team, Country Human Capital Teams, and the OML Group Reward Team, the incumbent will:

• Serve as the Reward lead and subject matter expert for the Old Mutual Africa Regions (OMAR) business.
• Embed OML Group Reward governance frameworks.
• Partner with Line of Business Executives, in-Country Teams and Group Functions to deliver on critical reward priorities to enable the business strategy.
• Leverage internal and external data and analytics to analyse reward patterns and outcomes to enhance attraction, retention and high performance.
• Design, plan and ensure disciplined execution of strategic Reward initiatives.
• Define and embed disciplines, capabilities and activities that support the business through appropriate operational practices.

Key Performance Areas

Reward Strategy

• Working in partnership with the OML Reward function, OMAR Human Capital and Reward Partners across the countries and the Central Team, provide thought leadership, define and design a fit-for-purpose, competitive reward strategy and underpinning constructs for the OMAR portfolio and/or specific countries, balancing interests of Group cohesion, market relevance and business outcomes.

Governance, Risk and Compliance

• Work in partnership with the Group Reward function, Country Human Capital Partners and Corporate Secretariats to guide on the desired consistency and strategic focus for country Remuneration Committees.
• Ensure all OML Group Reward Governances are fully communicated and socialised for understanding and alignment with key stakeholders.
• Work with Country Human Capital and Reward partners to ensure compliance with key governances and controls; and to identify, assess and mitigate for potential reward-related risks.
• Conduct required communications, change and training exercises as required, to ensure shared understanding of key policies, governances and controls.
• Support key stakeholders with audit actions and risk assurance exercises as required.

Strategic Initiatives, Advisory and Consulting

• Partner with country Executive and Human Capital Teams to provide guidance and support on key Reward issues requiring specialist input.  These may include, but are not limited to guidance on navigating required remuneration governances and approvals, the construction of more complex offers, specific remuneration challenges relating to attraction and retention, etc.
• Assist with the conceptualisation and proposal developments around specific initiatives agreed to address more complex Reward issues.  Design and drive programmes of action to execute on agreed initiatives.

Operations

• Oversee the preparation, planning, execution and approvals for all key Reward exercises across the portfolio, in line with Group requirements, milestones and timelines.  These include, but are not limited to Annual Remuneration Review, Incentive Programmes, Share Grants, Dividend Payouts and Vestings.
• Drawing from OML Group policy and practice, standardise, optimise and improve the effectiveness of Reward practices and key cycles across the OMAR portfolio, embed principles of disciplined execution and continuous improvement.
• Build own and others’ capability in Reward-related modules on the Group’s Human Capital Management System (Workday); and work in partnership with the relevant Group functions to ensure fitness of purpose for OMAR-specific nuances.
• Support the OMAR MD and Human Capital Executive with Executive Team Reward matters (set cycles, appointments, exits, retention, etc.)

Analytics and Insights

• Guide and define the most appropriate market benchmarking approach for OMAR.
• Commission and oversee appropriate research, benchmarking and market insights to drive the Reward strategy across the portfolio and individual markets.
• Provide regular reporting and insights on key Reward-related metrics, with proactive recommendations for risks and/or improvement opportunities.

Stakeholder and People Management

• Manage relationships with third party providers and consultancies, where applicable.
• Develop and leverage professional networks within (across functions) and outside the organisation.
• Drive high performance and provide direction, development, coaching and mentoring to functional teams in a dual reporting structure.
• Build capability and strengthen the talent and succession pipeline for areas under responsibility.

Qualifications and Experience Required:

The role requires a competent Reward professional with experience shaping and driving a strategic Reward agenda across multiple jurisdictions, disciplined execution of both operational and strategic initiatives, and with a demonstrated record of accomplishments across pan-African markets.

• Relevant postgraduate degree – Human Capital, Chartered Accounting, Actuarial and similar will be considered as advantageous.
• Global Remuneration Professional (GRP) certificate would be an advantage.
• Minimum 6-8 years’ working experience, ideally in Financial Services (but not essential) with specific experience required in Reward Management (compensation and benefits), and at least 2-3 years management experience.
• Must have experience working across the African continent.
• Experience with preparation and participation in Remuneration Committees is a requirement, including the drafting of RemCom papers.
• Experience managing due diligence and / or remuneration and benefits alignment exercises relating to mergers and acquisitions would be an advantage.
• Knowledge and experience dealing with expatriation packages would be an advantage.
• Solid commercial and business acumen.
• Strong data and analytics and modelling capabilities.
• Advanced computer literacy, particularly Excel.
• Experience leading others directly as well as influencing and delivering indirectly through others (experience in a matrix organization; excellent relationship building, influencing and communication skills.
• Ability to work in a complex, fast paced and challenging environment; adaptable, open to change and ambiguity.
• Ability to self-manage, with strong planning and organising skills, time management, personal accountability and results orientation.
• Must be able to travel across Africa, as required.

Closing Date

21 February 2023