Senior Total Rewards Analyst at Britam

Job Purpose:

• The role holder will be responsible for the implementation and administration of the company’s total rewards strategies, programs, policies, and procedures in the areas of salary remuneration, pension and retirement plan mapping, commission and variable pay computation and non-cash benefit administration to staff with an aim of enhancing employee output and productivity.
• Application of hands-on expertise on people analytics, data, and HR technology tools for seamless delivery of employee experience.

Key responsibilities:

• Adopt and implement the Group Reward Strategy, covering salaries, bonuses, pensions, medical insurance, mortgage scheme, sales incentive plans and any other incentive offered to staff and financial advisors.
• Ensuring compliance with all the necessary statutory regulations and legislations in the various jurisdictions/countries where the group operates. Responsible for filing returns to government bodies and the application of compliance certifications.
• Support in benchmarking of key reward practices and annual remuneration surveys across the region. Carry out research in all countries that Britam operates and make recommendations on compensation and benefits based on remuneration trends and best practices in those jurisdictions.
• Develop proposals and strategies on recovery of non-performing loans, conduct loan analysis for all staff and the sales team to confirm eligibility of company incentives and benefits, administration of loans and mortgages to staff as well as liaise with third parties on valuation of asset loans.
• Implement the sales compensation policy in relation to financial advisors’ commissions, variable pay and bonuses. 
• Responsible for ensuring payment processing for compliant financial advisors, recovery of dues and the development and design of the subsidy compensation framework for the sales network.
• Update of monthly finance reconciliations. Responsible for accurate costing of staff and financial advisors payroll deductions for posting in the general ledger.
• Ensure all staff are updated in the appropriate benefits schemes through monthly analysis checks. This includes update of staff in the pension scheme and mapping of financial advisors in their appropriate benefit categories.
• Conduct system audits to ensure accurate computation of commissions and variable pay to the sales network. Responsible for reviewing monthly commission files against the approved payment parameters inbuilt in the compensation system.
• Conduct benefit awareness campaigns to staff. Responsible for creating content on non-cash benefits available benefits to staff and making presentation to all stakeholders.
• Assist in the preparation and communication of compensation related changes guided by regulatory requirements to staff and financial advisors.
• Implement the approved annual performance framework of increments, promotions, and bonuses for all staff in the Britam group.
• Responsible of capturing compensation changes and review of the payroll variance based on these changes. 
• Prepare payroll trend analysis including adverse trend identification and course correction so as to ensure effective application of reward policies and procedures.
• Responsible for payment of final dues and benefits for staff exiting the company. This includes basic pay, leave day liability for staff and cashier bonds for the sales network.
• Lead SPOC in the design and implementation of system improvements aimed towards data accuracy, operation efficiency and customer satisfaction.
• Responsible for management and payment of out of payroll benefits which include salary advances to staff, commissions and bonuses to financial advisors.
• Support the Britam Staff Annual Budgeting process including the cost implications of the annual workforce planning.
• Delegated authority as per the approved delegated authority matrix.

Key Performance Measures:

• As described in your Personal Scorecard.

Knowledge, experience and qualifications required

• Bachelor’s Degree in a relevant field.
• Professional qualification in related studies. 
• Knowledge of insurance regulatory compensation requirements.
• 5-6 years HR experience, with full responsibility for administering employee compensation and benefits.

Technical/ Functional competencies:

• Research and data analysis skills.
• Knowledge in Employee Tax policies and procedures.
• Knowledge in Retirement Benefits rules and procedures.
• Knowledge in commissions and variable pay administration.
• Knowledge in Payroll Administration.
• Knowledge in Loans and benefits administration.