Job Description

Introduction

Momentum Group is a South African-based financial services group. Our retail and specialist brands drive to build and protect our client's financial dreams. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisation's care for and reward their employees and members.

Momentum Group is one of South Africa's largest life insurers and integrated financial services companies, operating through brands like Momentum, Metropolitan, Guardrisk, and Eris Properties. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Group provides practical financial solutions for people, communities, and businesses. Visit us at www.momentumgroup.co.za

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

Provide the strategic direction for the group reward function, with a view of ensuring the optimal execution of remuneration and employee benefits across the group in line with Momentum Group's people strategy.

Requirements

Post-graduate degree in Finance, Human Resources or related field.
Remuneration Professional certification (preferred)
8-10 years reward experience, preferably within the financial services industry
8-10 years leadership experience

Duties & Responsibilities

Design and develop Total Reward strategies and solutions that enable business objectives as well as the Group's Employee Value Proposition.

Develop and drive the implementation of total reward strategies in the areas of remuneration, benefits, and incentive plans, ensuring market competitiveness and alignment with the Momentum Group People Strategy, as well as a holistic employee experience.
Ensure total reward policies and practices are aligned with business objectives and are compliant with applicable laws and regulations.
Work together with the Group CEO, CFO, Group Exco and Group Remuneration Committee to develop and drive the implementation of consistent and equitable remuneration plans, incentive structures and programs to support business objectives.
Design and maintain best practice and competitive employee benefit offerings that enables a holistic employee experience and unique Employee Value Proposition for Momentum Group.
Provide thought leadership on remuneration and employee benefit initiatives and trends.
Participate in external remuneration surveys and manage the equitable internal and external benchmarking practice across Momentum Group.
Design or enhance total reward programs for Momentum Group's international businesses ensuring competitiveness and compliance within the relevant geographical areas.
Continuously evaluate the Total Reward service offering for external competitiveness, internal equity, and legal compliance and re-align where necessary.
Create platforms and forums that enable robust governance of Total Reward decisions within Momentum Group that align with best practice and legislative requirements.
Oversee contracts and manage relationships with Total Reward Consultants in line with preferential procurement principles.
Align and integrate the Total Reward solutions with other Human Capital practices.
Drive the effective communication around remuneration and benefits, incentive plans and other Total Reward Solutions.
Guide and advise business leaders and Human Capital teams on Total Reward solutions.
Utilising data analytics, analyse internal Total Reward practices and leverage Total Rewards trends to propose new solutions to address gaps and challenges.
Deliver relevant Total Reward reports and insights to senior management forums and committees.
Ensure that remuneration programs are consistently designed, communicated, and administered in compliance with company policies.


Drive a client centric environment that focuses on best practice service delivery



Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.
Define fair and innovative client service practices which build rewarding relationships and allow the team to provide exceptional service.
Demonstrate exemplary leadership behaviour through personal involvement, commitment and dedication in support of the six cultural behaviour themes.
Create a high-trust, high-performance environment where excellence is the norm and aligned with business impact, collaboration and partnership building.
Provide authoritative expertise and advice to internal stakeholders.
Build and maintain relationships with internal and external stakeholders.
Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.


Effectively lead the team



Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.
Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of our culture behaviours.
Select and recruit suitably qualified talent in line with Employment Equity principles as well as Momentum Group's culture behaviours.
Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
Drive a culture that makes our purpose real, enables a significant behavioural shift, and supports execution of the Impact strategy.
Enable a culture where there is continuous learning and growth, and where information regarding successes, challenges, trends and ideas are actively shared between team members.
Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted.
Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.
Effectively manage performance within the team in order to ensure business objectives are achieved.
Encourage innovation, change agility and collaboration within the team.


Manage budget and implement sound financial controls



Control the budget for the remuneration and benefits team, including the authorisation of expenditures and implementation of financial controls.
Develop an annual & longer-term resource plan and secure capacity to achieve divisional objectives consistent with long term strategic plan.
Manage high risk and problematic financial issues in your area of accountability and contribute to the development of policy.
Identify solutions to enhance cost effectiveness and increase operational efficiency.
Implement and manage financial risk methodologies, techniques and systems and use to monitor and report on financial activities.
Implement risk management, governance and compliance policies in own practice area, to identify and manage governance and risk exposure liability.
Investigate reported wilful acts of non-compliance of organisation policy and practice and report on findings.
Manage the General Staff incentive provision process across the Group and contribute to the management incentive schemes IFRS2 provisions process.

Competencies

Business Acumen: Understands how the business operates, what the key issues and risks are that drives business success; and how they impact on the commercial viability of potential ventures and the profitability of the Group.
Client/Stakeholder Commitment: Anticipates, meets and exceeds client's needs by creating long lasting relationships that support the client value proposition, supports their financial wellness and ensures client centricity.
Drive for Results: Drive a sense of urgency, focus, accountability, agility and execution to deliver business results.
Leads Change and Innovation: Actively leads change, does what is right for the business and drives continuous improvement through innovation.
Strategic Thinking: Creates competitive and breakthrough strategies to drive short term profitability and long-term business growth and shareholder value.
Collaboration: Prioritises the business interests of Momentum Group and invests in the success of the group by aligning efforts across divisions.
Impact and Influence: Persuades, convinces, influences and inspires others, both within the Momentum Group and externally to win support, loyalty and gain commitment to the purpose of Momentum Group
* Initiate and lead strategic initiatives to implement Total Reward Strategies: Align the total reward strategy to the Group People strategy to drive talent attraction, retention and business performance.