Consultant Long Term Plans

Absa is seeking a dedicated Consultant to join their HR Reward & Performance Function in Johannesburg. This role is pivotal in managing the intricacies of the organisation's long-term employee incentive programmes, encompassing both share and cash plans. The successful candidate will report to the Manager of Share Scheme Administration and will serve as a key point of contact for various stakeholders across the Group.

About the Role

This position offers a comprehensive opportunity to oversee the end-to-end administration of all share and cash incentive plans. A significant portion of your responsibilities will involve detailed financial reporting for IFRS2 and Deferred Tax, requiring close collaboration with the Finance department. You'll also engage with the Legal team on plan documentation, including drafting plan flyers, grant letters, and facilitating the introduction of new schemes. A crucial aspect of the role involves coordinating with the Share and Cash Plan Committee and Trustees, preparing written resolutions for their review. Furthermore, you will play a part in market announcements relating to these plans, working alongside the company secretariat.

The role also extends to representing Absa on special share and cash plan projects across Africa and acting as a primary resource for employee queries regarding the operation and structure of these plans. You will coordinate the nominations and release processes for share and cash plan awards, liaising with local Business Reward teams. Ensuring the timely provision of grant, leaver, and release information for Group employees will be a key deliverable, with the understanding that data ownership remains with local HR teams.

Your day-to-day activities will be diverse and crucial to the effective functioning of Absa’s reward programmes. This includes:

• **Plan Administration and Support:**
• Coordinating share and cash plan award nominations and release processes.
• Managing the provision of grant, leaver, and release data throughout the year.
• Assisting with training and educating participants, Reward Business Partners, and HR Business Partners on scheme rules and provisions.
• Drafting communication and training materials to ensure a clear understanding of scheme specifics.
• Addressing employee queries related to plan mechanics and structures.
• **Financial and Legal Collaboration:**
• Providing commentary and data to Finance for IFRS2 and Deferred Tax reporting.
• Engaging with Legal on a variety of plan-related documentation.
• Assisting in the coordination of written resolutions for the Share and Cash Plan Committee and Trustees.
• Collaborating with the company secretariat to prepare and release market announcements.
• **Valuation and Buyouts:**
• Working with local HR teams on share and cash plan buyout processes and annual awards.
• Performing share buyout valuation calculations and advising stakeholders on appropriate methodologies.
• Maintaining a database of competitor long-term plans and sharing insights with global reward teams.
• Collaborating with HR onboarding and recruitment teams on contract structures for buyouts.
• **Process Improvement and Compliance:**
• Ensuring accuracy and timely completion of all assigned tasks.
• Applying scheme rules and providing guidance to Line Managers, Reward Leads, HR, and employees.
• Assisting in drafting Service Level Agreements (SLAs) to clarify inter-departmental processes.
• Continuously improving business-as-usual (BAU) processes and liaising with service providers to ensure system operability.
• Ensuring compliance with local reporting and administrative deadlines, collaborating with various internal departments and external vendors.
• **Relationship Management:**
• Building and maintaining strong collaborative relationships with HR colleagues across different portfolios.
• Partnering with HR colleagues and business leaders to ensure the delivery of redeployment team objectives in a colleague-focused, compliant framework.

What They're Looking For

Absa is seeking a candidate with a strong understanding of share and cash incentive plans, coupled with excellent analytical and interpersonal skills. The ideal candidate will have experience in financial reporting related to employee share schemes, particularly IFRS2 and deferred tax. You should possess the ability to interpret and apply complex scheme rules, providing clear guidance to a variety of audiences, from individual employees to senior management.

Key requirements include:

• Proven experience in administering long-term incentive plans (share and cash).
• Familiarity with financial reporting standards relevant to share schemes (e.g., IFRS2).
• Excellent communication and stakeholder management skills, with the ability to build rapport and collaborate effectively.
• Strong analytical and problem-solving abilities, with meticulous attention to detail.
• Ability to work independently and manage multiple priorities within strict deadlines.
• Experience in training and educating others on complex financial plans.
• A thorough understanding of risk management principles and compliance requirements within a corporate environment.
• Experience in people management is an advantage, should the role require overseeing a Share Plan Administrator.

This role is an excellent opportunity for a motivated individual looking to deepen their expertise in employee rewards within a leading financial institution. In South Africa, roles managing complex share and cash incentive plans often command competitive salaries, depending on experience and the size and complexity of the schemes. Employers in this field typically include large listed companies, particularly within the financial services and mining sectors, which often have extensive employee incentive programmes. Career progression might lead to more senior roles in compensation and benefits, or broader HR leadership positions.

Education and Experience Required:

Education:

• NQF Level 7: B Degree  

Experience: 

• At least 3 years’ technical knowledge of and experience in share and cash plan design 
• Advanced knowledge of Excel 
• At least 3 years’ technical knowledge on tax, legal and financial issues 

Knowledge & Skills: 

• Analysis and Financial reporting 
• Oral and written communication 
• System Analytical Thinking 
• Experience and understanding of data management and ability to manipulate data quickly and accurately
• Awareness of organisational and reporting structures across Barclays Africa Group Limited Stakeholder Management Skills  

Competencies: 

• Analysing 
• Presenting and Communicating information 
• Planning and Organising 
• Working with people
• Deciding and initiating action 
• Leading and Supervising  

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