Senior Specialist: Reward

Absa Group; Johannesburg; On-site; ZAR 700 000 - 900 000; Full time

Job summary

A prominent banking institution in Johannesburg seeks a Senior Reward Specialist (VP) to design and manage reward strategies across Pan-African operations. The role requires strong analytical skills and a minimum of 5 years’ experience in the financial services sector. Candidates with regional experience will have an advantage. This position is vital for ensuring competitive compensation and aligning with the bank's strategic objectives.

Qualifications

• Minimum 5 years’ experience in a Reward focused or similar role preferably within the financial services sector.
• Experience working across multiple African countries and understanding of regional compensation practices would be advantageous.

Responsibilities

• Develop and implement reward strategies that support business goals.
• Conduct the annual pay review processes across the business.
• Lead the running and on-time execution of the annual pay review for senior management.
• Analyse compensation data to derive insights for senior leadership decision making.
• Partner with HC Business Partners and senior leaders on reward-related matters.

Skills

Business and financial acumen

Attention to detail and data accuracy

Influencing and negotiation skills

Project management and planning skills

Strong analytical and problem-solving skills

Education

Bachelor’s Degrees in Business, Commerce and Management Studies

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

The Senior Reward Specialist (VP) will play a pivotal role in designing, implementing, and managing reward strategies and programs across the bank’s Pan‑African operations. This role ensures that compensation and benefits frameworks are competitive, equitable, and aligned with the bank’s strategic objectives, while also being compliant with regulations across multiple jurisdictions.

Job Description

Reward Strategy & Design

• Develop and implement reward strategies that support business goals and attract, motivate, and retain top talent across Africa.

• Contribute to regular market benchmarking and salary surveys to ensure competitive positioning.

• Implement short‑term and long‑term incentive schemes that support business strategy execution.

Compensation & Benefits Management

• Conduct the annual pay review processes across the business.

• Provide expert advice on pay structures, talent retention and offers.

• Ensure compliance with legislative and governance frameworks as applicable.

Annual Pay Review

• Lead the running and on‑time execution of the annual pay review (fixed, short term and long‑term compensation) for the cluster up to senior management level, guiding the Cluster CPO and CE in the development and review of proposals for increases and incentive awards, to ensure effective and well‑governed implementation and embedding of the outcomes.

• Develop, through the application of specialist reward methodologies, pool distribution and monitoring frameworks for the pay review, based on a range of factors such as business performance, risk performance, individual performance distribution, headcount changes and changes to the business operating model to enable the CE to fairly and equitably distribute the cluster's STI pool.

• Provide specialist reward up‑skilling for the HC community and people managers responsible for the decisions/recommendations in advance of the pay review cycle commencement, to enable them to apply the Group's pay review principles and to make recommendations in accordance with these, and within the available budget.

• Provide sophisticated and detailed data analytics and support to Cluster teams, including use and application of market data, performance metrics (individual and business), risk weighting/assessment in support of pool and individual allocations to enable them to make informed decisions regarding the allocation of the STI pool within their areas.

• Requires a high degree of influencing and persuading skill to be able to drive fair outcomes for the Cluster at the senior level.

• Actively track and monitor spend/budget utilisation, including providing direction on the appropriate differentiation to optimise pool allocation within the scope of the Cluster's total pool.

Analytics & Reporting

• Analyse compensation data to derive insights and provide recommendations to support senior leadership decision making.

• Develop dashboards and reports to monitor reward effectiveness and equity.

Governance & Compliance

• Support the development and application of reward governance frameworks and policies.

• Ensure adherence to internal controls and external regulatory requirements.

Stakeholder Engagement

• Partner with HC Business Partners and senior leaders to provide guidance on reward‑related matters.

• Collaborate with finance, risk, legal, and compliance teams to align reward practices with organizational policies.

Projects & Continuous Improvement

• Lead or support reward‑related projects, including reorganisation, system implementations, campaigns and competitions and process improvements.

Qualifications & Experience

• Actively track and monitor spend/budget utilisation, including providing direction on the appropriate differentiation to optimise pool allocation within the scope of the Cluster's total pool.

• Minimum 5 years’ experience in a Reward focused or similar role preferably within the financial services sector.

• Experience working across multiple African countries and understanding of regional compensation practices would be advantageous.

Key Competencies

• Business and financial acumen

• Attention to detail and data accuracy

• Influencing and negotiation skills

• Cultural sensitivity and adaptability

• Expert knowledge of reward principles, practices, and trends particularly within a financial services context and across Africa.

• Strong analytical and problem‑solving skills, with the ability to analyse and interpret large sets of data to inform reward strategies.

• Excellent verbal and written communication and interpersonal skills, with the ability to influence and persuade stakeholders at different levels and manage relationships with senior stakeholders, including executives and front‑office leaders.

• Project management and planning skills, with the ability to deliver results within deadlines and budgets.

• Teamwork and collaboration skills, with the ability to work effectively with diverse groups, stakeholders across functions, and cultures.

Education

Bachelor’s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised.