Vacancies at Discovery Limited

Key Purpose of the role

The position is responsible for managing a smaller team, responsible to load and process all Umbrella new business applications, scheme installations, invest contributions and set up participating employer renewals, within the Retirement Funds business unit. This is a core administration team leader function, and the incumbent would be required to holistically manage, control and understand a portfolio of different Retirement Fund disciplines, for example monthly contributions, claims, investment option, individual transfer in, section 14, section 28 Liquidation, deregistration processes. The incumbent must ensure that the processes and procedures are implemented, maintained and improved, in order to ensure that the team managed are able to conduct the operational activity within regulatory frameworks, accurately, effectively and efficiently. Align processes with the company strategy. The incumbent must ensure that the team has the knowledge, skills, tools and competencies required to perform the required job within service level agreements. Create an environment that support individual performance and a culture of continuous improvement. The incumbent must have an appetite to be part of a growing new business unit, able to adapt to change easily and drive change management within the team, challenge the status quo, motivate and inspire the team. The incumbent will continually review existing processes and procedures in order to ensure the delivery of committed services to the Umbrella Funds.

Areas of responsibility may include but not limited to

• Manage adherence to Service Level Agreement. Implement processes and procedures and ensure all services in respect of the operations of Umbrella Funds are conducted timeously and efficiently.
• Dealing with the full Human Resources function for staff managed. Ensure others are trained on the processes and systems. Provides staff with clear direction. Sets appropriate standards of behaviour and outputs. Delegates work appropriately and fairly. Motivates and empowers others.
• Ensure that new client installations, installations changes and scheme renewals are accurate, compliant and abreast with regulatory frameworks such as, Pension Funds Act, Tax Act, Rules of the Discovery Life Umbrella Pension and Provident Funds, Participating employer special rules.
• Ensures delivery of key operational attributes such as data completeness and data quality.
• Responsible to maintain and update SOP’s in line with business process developments and system enhancements. Assist with audits and appropriate responses to audit queries.
• Ensure regular, comprehensive and appropriate management reports are generated for submission to line manager and the broader business.
• Ensure productivity levels are optimised.
• Dealing with escalated calls or queries from internal stakeholders, communicate effectively with clients to resolve queries and escalations, ensure client expectations are met.
• Develop and maintain excellent business relations with internal and external brokers.
• Managing projects.
• The incumbent is the Subject Matter Expert in Retirement Fund areas under management. Produces new ideas, approaches or insights. Produces range of solutions to problems and do root cause analysis. Effective decision-making by “out of the box” thinking and weighing up risks involved.

Personal Attributes and Skills

The Successful Candidate Must Demonstrate The Following Competencies

Communication Skills: able to communicate clearly both verbally and in writing.

• Reporting Skills: ability to consolidate information and compile reports reflecting the necessary relevant information
• Ability to communicate logically and objectively is essential components of this role.
• Attention to detail
• Very organised
• Conflict Management
• Expresses opinions, information and key points of an argument clearly.
• Probes for further information or greater understanding of a problem.
• Relates well to people at all levels.

Education and Experience

• NQF level 5 equivalent qualification.
• 3 – 5 years operational leadership and management experience – Essential
• 5 - 10 years retirement funds, umbrella experience – Essential
• NQF level 6 or B Com degree or similar is advantageous
• Relevant Industry Qualifications – Wealth Management, Introduction to Retirement Funds - Advantageous
• MS Office - Advanced Excel skills, Accounting, Investments, People management, operational processes and process mapping. Retirement Fund and Umbrella Fund operations.
• Full compliance and legislative universe relating to employee benefits, FAIS and Umbrella Funds.
• 3 -5 years’ experience in the employee benefits, retirement fund and umbrella industry. 3 years in a management role, 5 years in a senior role.

go to method of application »

Job Purpose

• The Senior Remuneration Specialist will be responsible to:
• Provide specialist advice to business units within Discovery Group, escalated by specialists and Heads of People.
• Conduct research on key areas regarding remuneration and benefits to analyse and predict market trends.
• Conduct market benchmarks for key executive roles on an annual basis.
• Compile reports for REMCO on annual salary reviews, incentive payments, and new remuneration policy proposals
• Conduct annual pay gap analysis for reporting purposes to agencies and integrated annual report
• Draft Annual Remuneration Report covering the Remuneration Policy and Implementation including Single Figure reports for Executive Directors
• Analyse internal remuneration and benefits data and make proposal on addressing identified gaps and issues
• This role will be reporting to the Head of Reward within Discovery People (i.e. Human Resources Department)

Key Outputs may include but are not limited to

• Proactively identifies and analyses the needs of the business by conducting research into remuneration trends and best practices.
• Compile Remuneration Committee submissions at Group and business unit level
• Conduct education to line managers to ensure pay decisions are in line with the remuneration philosophy and the pay construct is understood
• Monitor effectiveness and market competitiveness of incentive schemes by conducting periodic audits and prepare reports
• Maintain an understanding of executive remuneration and interpret trends in order that the executive remuneration and benefits packages remain competitive
• Ensure that remuneration practices are in compliance with current legislation
• Identify and implement opportunities for improvement to existing processes
• As a member of the Reward team, contribute in leading Reward initiatives at Group or business unit level
• Advising business on the Group’s reward philosophy and governance
• Ensure the design of reward practices is compliant with applicable legislation and regulation
• Contribute in identifying business requirements for enhancements to Reward systems.

Work Experience

• 6 to 12 years' relevant experience (with Global Remuneration Professional (GRP) Certificate).
• 12 years remuneration experience

Education / Qualifications / Accreditations With Professional Body

• Bachelors' Degree/3 year Diploma (equivalent to NQF Level 6)
• Global Remuneration Professional (GRP)
• Professional Registration Chartered Reward Specialist with SARA or Global Remuneration professional

Technical Skills Or Knowledge

• Sound knowledge of Labour legislation, King III and relevant governance codes that influence sphere of job.
• Data Analysis
• Advanced Excel
• International Financial Reporting Standard 2 Share-based Payment