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
This role is accountable for the execution and operationalisation of the approved Absa Group Pensions and Employee Benefits strategy, policy and related practices and services. This includes tactical design and delivery plans, formulation of associated practice/s and ensuring operational implementation and adoption. The role will also support the effective implementation of technological solutions to enhance/improve employee engagement with their pension and benefit arrangements and strengthen management of these arrangements.
Job Description
Key Accountabilities:
Strategic Development and Partnering:
- Specialist advice to the Group’s various operating entities on pensions and employee benefits.
- Lead and/or oversee specific approved pension and benefits projects across the various parts of the Absa landscape as required.
- Ensure effective pension and benefits governance.
- Support local (entity-level) pension and benefit arrangements by providing technical/specialist assistance to local Human Capital teams in specific African and International Operations locations.
Technical Research and delivery of pensions and employee benefits policy:
- Remain abreast of international, African and local International Office pension and benefits developments and trends (including legislative and regulatory change) and review these for the impact for implementation.
- Support Group Reward initiatives that impact on Absa’s pensions and benefits e.g. organisation restructuring, employee benefit improvements.
- Support the delivery of Absa pension and benefits projects e.g. mergers, acquisitions and disposals, plan design changes, operational change.
- Contribute to Absa’s pension communications across the enterprise to ensure that the content is appropriate.
- Respond to complex pension and benefits cases.
Application of employee pensions and employee benefits policy and delivery:
- Be a subject matter expert/technical point of reference for business units, providing technical support/advice to assist their commercial and human capital objectives and pension & benefits education strategy.
- Support due diligence and implementation planning for acquisitions, disposals, out-sourcing, etc. that assists the Group’s commercial negotiations.
- Support and operationalise the management of the relationship with the various Trustee and other internal governance bodies across the Absa pensions and benefits landscape.
- Support the optimisation of the working relationship with third party providers to ensure efficiency and ‘best in class’ practice.
- Enhance pension and benefits education/upskilling.
Business Management:
- Agree and manage service offerings and SLAs with internal customers (agree annually and measure on a monthly basis).
Risk and Compliance:
- Ensure that processes, control requirements and risk management frameworks that have been reviewed and implemented for the area are understood by all members of the team.
- For audit findings that have an impact on the Centre of Expertise, work with the Head of Pensions and Benefits to close out findings and implement required actions.
- During scheduled audits and management assurance reviews, ensure that all information required by the auditors are provided timeously.
- Support the management of all risk and compliance matters relating to pension and benefits issues, both internally and externally.
Education and Experience Required:
- Minimum of 4 - 5 years direct international employee benefits advisory, management and implementation experience (ideally in more than one industry/environment but preferably including financial services). This could be either as an internal pensions and benefits specialist, or as a pensions and benefits consultant advising external clients. The incumbent is able to operate as an independent contributor.
- Experience leading/participating in cross-border projects in delivering pensions and employee benefits solutions.
- Experience working within a large corporate or a reputable pensions/employee benefits consulting/advisory firm preferred.
- Degree in commerce, management, or finance.
- Professional Body Registration (e.g. Actuarial Society, Institute of Chartered Accountants) is not required, but will be an advantage.
Knowledge & Skills:
- Stakeholder Management – business-level executive committees, Human Capital Leads, cross-functional teams.
- Cross-functional delivery.
- Strong understanding of Employee Benefits/Pension Funds practices (including technical requirements), legislation, regulation and governance.
- External liaison – Employee Benefits/Pension Funds (regulators, governance structures, third-party suppliers) in all Absa locations.
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
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