The Company
One of the leading Banks in the region with a reputation for its services levels and innovation products is now looking for a key as Head of Group Rewards
To provide strategic leadership, vision and oversight for all aspects of the Compensation, Benefits, Payroll, and Performance Management functions across the Bank.
The Role
The role will comprise of the following
Strategy
- Contribute and provide inputs to the development of the Human Resources strategy in line with the overall business objectives of THE BANK.
- Ensure cascading of the Human Resources strategy into the Group Rewards Management strategy by effectively translating it into business / action plans to ensure vertical alignment and horizontal integration with other interfacing strategies.
People Management
Manage the effective achievement of objectives through setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal in order to maximise subordinate and the overall performance.
Budgets and Plans
Prepare and recommend the Group Rewards Management budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, and areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalised upon.
Organisation Structure
Define an optimum organisation structure for Group Rewards Management in coordination with OD and Effectiveness so that resources are optimally utilized and communication can take place in an efficient manner.
Rewards Management
Design plans and programs, and develop, implement and maintain compensation, benefits, payroll, and performance management policies, procedures, strategies, audit guidelines, communication plans for THE BANK Group.
- Partner with THE BANK Group leadership to leverage compensation and benefits programs to meet organisational objectives.
- Develop, track, and review the manpower budget for THE BANK based on the manpower headcount budget prepared by OD and Effectiveness and in liaison with Group Financial Control and Group Strategy and Corporate Affairs.
- Ensure that all THE BANK Group’s compensation structures, pay grades, and pay practices are in accordance with all respective laws and the best practices and standards.
- Assume full responsibility for executive compensation policies, pay practices and compensation structure.
- Oversee the design and review of compensation structures, levels, cash and non-cash benefits, and policies, including Annual Incentive Scheme (AIS), Long Term Incentive Scheme (LTI) and Short Term Incentive Scheme (STI).
- Develop and prepare THE BANK’s Annual Compensation Review in coordination with Group Leadership Development to ensure retention and full engagement of Key Risk Roles and Key Talent.
- Conduct regular and systematic reviews of compensation practices and policies, analyse current rewards programs to ensure they align with business strategy, and analyse market competitiveness of THE BANK Group’s compensation and benefit plans to ensure they optimise the ability to attract and retain top talent.
- Assume full responsibility of Performance Management System; ensure all annual performance evaluations are thoughtfully written with clear feedback for performance improvement.
- Monitor programs, processes and policies for effectiveness and make recommendations for changes that balance the bank’s needs with short- and long-term health and financial welfare of employees.
- Serve as lead subject matter expert, problem solver, policy interpreter as it relates to compensation, benefits, payroll and performance management matters.
- Liaise with Group HRIS to ensure data integrity and efficient unitization of the HR Information System to effectively and accurately administer payroll, compensation, benefits and employee performance.
Champion the communication of rewards and compensation philosophy throughout all levels of THE BANK Group on an on-going basis including the design and implementation of communication tools to improve the understanding and value of the offered programs.
- Oversee the evaluation of jobs using best-in-class methodologies and support
- Organizational Design and Effectiveness in reviewing changes in Organization Structure proposed by respective functions and facilitating their implementation
- Maintain knowledge of current trends, laws and developments in compensation, benefits, payroll and performance management.
Change Management
Provide advice and support on organizational change needs and develop recommendations in order to enable continuous improvements.
- Provide specialized expertise to enable implementation of business transformations and re-organizations.
- Undertake the required initiatives in order to effectively design and implement change management.
Continuous Improvement
Motivate subordinates and contribute to the identification of opportunities for continuous improvement of systems, processes and practices taking into account ‘international leading practice’, improvement of business processes, cost reduction and productivity improvement.
Job Details
| Date Posted: | 2016-11-10 |
| Job Location: | Kuwait |
| Job Role: | Human Resources/Personnel |
| Company Industry: | Employment Placement Agencies/Recruiting |
Preferred Candidate
| Career Level: | Executive/Director |
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