Primary Job Purpose
The job holder will assist in managing, planning, designing, implementing and administrating Burgan’s comprehensive total rewards strategy, framework and programs. He/she will assist in managing employees’ total rewards programs that will contribute to overall Bank’s performance, organizational trust and satisfaction. Moreover, to ensure effective staff engagement and the ability to attract, retain and motivate qualified employees and enhancing the Bank’s business profile. The jobholder will also handle the responsibility of evaluating and providing recommendations on total rewards strategies while also assisting in promoting the Bank’s employee value proposition according to the related policies, procedures and in compliance with all regulatory requirements.
Job Roles & Responsibilities:
Strategy, Planning and Management
Planning and Management
- Assist in driving the Total Rewards function to deliver on key objectives, including but not limited to, salary structure, incentive plan design and review, market reviews, benefit program plan design while also, working on day-to-day administration of related programs.
- Assist in the formulization of total rewards components, including but not limited to compensation, benefits, work-life effectiveness, recognition, performance rewards schemes that support talent development and collectively support Burgan’s strategy to encourage, maintain and engage.
- Assist with the management of performance management rewards and recognition programs
- Support and assist in handling the development and integration of new and/or existing rewards programs that are aligned with the policies and procedures to ensure that programs are market competitive, internally equitable, and cost effective.
- Assist in the implementation of metrics that assess and monitor the efficiency of ongoing Total Rewards programs and new initiatives.
- Assist in articulating Bank’s Total Rewards strategy along with the Bank’s business objectives.
- Assist in managing all aspects of employees’ benefits program such as health plans, retirement plans, life & medical insurance and ensure cost-effectiveness.Operations, Review and Reporting
Maintain an updated knowledge of the Bank’s rules, regulations and also standards that are in the concerned field and related matters of the interest to the department.
- Keeps abreast of regulatory changes affecting total rewards, including leave requirements and ensures Burgan’s benefit plans and practices are within related regulatory requirements. Fieldwork
- Contribute in the execution and implementation of annual/periodic projects such as annual salary review and bonus exercise, performance appraisal including non-cash rewards, annual remuneration system reviews etc.
- Analyse and assist in the management of employees’ exits / separations as per Burgan’s rewards- related policies and provide recommendations where and when required.
- Assist in managing and reviewing the calculations submitted and post payroll data to payroll records also, ensuring appropriate withholding of Social Security; employee benefits contributions etc.
- Contribute within the preparation and processing of payroll information, to ensure accuracy of staff compensation.
- Work hand in hand with the recruitment team to review and ensures right compensation measurements are applied.
- Assist in the management of day-to-day and of HR – Operations responsibilities including but not limited to Leaves, Health & Life Insurance, PIFSS as well as familiarizes employees with established policies, procedures, rules, and regulations.
- Administer the development, implementation, and maintenance of the Bank’s sales incentive programs, inclusive of annual testing and plan structure validation
- Serve as a subject matter expert for compensation and counsel Human Resources related functions on best practices & provide recommendations for the appropriate pay positioning of individual cases.
- Assess the effectiveness of the current total rewards and benefit programs and work on identifying best practices through benchmarks and align it within HR strategy and business goals
- Execute the Bank’s rewards policy and enhance it towards a Total Reward Model and Pay for Performance practices in the Bank
- Support in the development and management of Human Resources Information Systems to enhance Human Resources reporting/analytics capabilities on rewards management.
- Contribute to the review of existing systems and policies; and develop new policies and program in the areas of rewards and recognition.
- Analyse current rewards and recognition programs to ensure they align with the Bank’s business strategy and ensure that rewards programs optimize the ability to attract, motivate and retain top talent.
- Drive the definition and design of the Bank’s Employee Value Proposition especially in relation to total rewards and recognition elements.
- Develop and coordinate communications strategies and activities that are designed to educate and inform employees about total rewards practices.
- Support the banks vision through the talent rewards practices and maintain employees’ balanced life style between work and home.
- Support the development, review and implementation of compensation and benefits programs under the Total Rewards Framework
- Partner with HRMS team to maintain total rewards platforms, leverage technology and automation to improve the effectiveness of total rewards processes and enhance the employee experience while minimizing costs.
Generate and escalate periodic and ad hoc reports ensuring accuracy and timely delivery
Participate in the various cross-functional committees/teams for multiple purposes to achieve optimal cooperation and deliver quality service
- Communicate actively with internal stakeholders such as Finance, Accounting, Audit, Compliance as applicable and required to review cross-departmental impacts and reconcile data sharing as required and applicable.
Effectively collaborate with vendors and external partners to ensure maximum value of services is delivered.
- Network extensively in & out the bank to reinforce the Total Rewards objectives
Participate in the selection and development of staff
- Evaluate performance and recommend developmental needs of the team like development of core expertise in the given countries, sectors etc.
- Review recommendations of subordinate staff and provide guidance in resolving complex or sensitive problems
- Maintain and promote positive work culture and responsible for improving employee engagement level of the team
|Job Location:||Al Kuwait, Kuwait|
|Job Role:||Accounting and Auditing|