Closing Date: 31 May 2021
Business Unit: Reward Corp Centre
Senior Specialist Executive Reward & Performance
Short Description / Purpose of Job:
Responsible for all Executive (GEC and GEC 1), Sasol Limited Board and subsidiary member remuneration matters, statutory reporting on reward matters as well as global governance on non-executive and executive director remuneration.
Responsible for the annual research, benchmarking of practices and fees, drafting of quarterly Board submissions, obtaining approval for and implementing non-executive director fee structures at Ltd Board as well as the fees for directors and trustees of different trusts and subsidiaries within the group.
Monitoring of compliance by the BUs/regions to group minimum standards.
Minimum Qualifications and Experience required
University Bacherlor’s Degree / Certified GRP qualification
10 relevant years (Min 8 yrs in HR of which min of 6 yrs in Rewards & Benefits environment)
Certification & Professional Membership:
World at Work(W@W) GRP certification and accreditation. SARA accreditation as a Reward Specialist.
Recruitment Description / Key Accountabilities
Participation in relevant Executive and Non-executive reward surveys, including variable pay surveys through submission of high-quality survey submission files as well as the analysis of survey reports and preparation of reports for GEC and Remco purposes.
Analyse annual financial statements published by peer group companies to determine global remuneration trends in Chairman, NED and ED fee structures, fees and benefits. Assist in the submission of executive survey data and assist in the compilation of data relating to non-executive directors.
Assist in the annual review and implementation of non-executive director fee structures at Ltd Board level as well as different trusts and subsidiaries within the Sasol Group.
Assist in the review and implementation of executive reward pay lines, pay structures and pay mix.
Deal with all reward and tax related queries from executive and non-executive directors and provide accurate responses and reconciliations.
Extract remuneration reports from AFS, analyse and make recommendations to the Remcom regarding fee structures, fees, benefit structures for NEDs, Chairman and EDs. Assist in training HR partners in the consistent application of Sasol Global Executive Reward policies.
Ensure the BU/regional Reward teams are trained on the global policies to render a professional service to clients.
Assist the global Governance & Policy team in presenting the modules to HR business partners. Keep abreast of global reward governance requirements.
Regular attendance of reward community forums, self-study of international reward governance practices.
Facilitate regular community of practice meetings.
Assist Policy and Governance in the compilation of group reward related submissions for inclusion in the Sasol Ltd Remco packs. This includes annual increase submission, NED fee proposals and variable pay proposals.
Undertake Remuneration benchmarking processes and drafting of professional submissions.
Assist in the compilation of annual statutory reward returns, annual financial statements, integrated report, annual remuneration report and subsidiary remuneration reports.
Assist in addressing remuneration audit risks.
Ensure accurate processing of approved fees, accurate capturing of data in report tables, obtain clean audit reports and meet all Finance deadlines regarding disclosure requirements.
Processing of NED fees and manage the taxes of the Board Chairman and Non-Executive Directors as well as statutory returns.
Keep abreast of statutory reporting requirements including King IV, JSE listing requirements, Company’s Act requirements and SEC requirements.
Ensure that NED fees are processed timeously and that annual tax returns are submitted in various tax jurisdictions.
Responsible for the regular review of non-executive director, executive director, GEC and GEC1 employment contracts and benefits as well as the implementation of these contracts.
Responsible for the management of remuneration for GEC and GEC1 appointees including recommendation for annual increases / interim adjustments to the Sasol Ltd Remcom, calculation of short- and long-term incentive awards, buy-out and retention awards and drafting letters to the effect.
Handling all on-appointment contracts and correspondence for employees in GEC & GEC1.
Provision of specialist reward advice on the structuring of packages for purposes of car allowance and retirement fund contributions, employee taxes, calculation of net monthly salary values, explanation of short- and long-term incentive plans and gains, corporate performance targets etc.
Implementation of the administration and taxation of the security solution for GEC members.
Management of executive contribution towards the offshore pension plan and dual contracts.
Provision of IRP5 certificates and ongoing individual tax information relating to all salary, bonus and share related processes. Ensure accurate tax returns to eliminate personal and company reputational risks.
Payment of part salaries in offshore currencies and ensuring accurate reconciliation to a common currency for purposes of tax calculations.
Provision of Total Reward Schedules to GEC and GEC 1 appointees on an annual basis. Stay aware of legislation governing employment contracts in the various legal jurisdictions impacting executive employment contracts.
Drafting of tables for inclusion in the annual remuneration report, to be signed off by the auditors as part of the annual financial statements.
Analytics: The systematic computational analysis of data or statistics
Business Acumen: An intuitive and applicable understanding of how a company or unit makes money. Displays a thorough understanding of what drives profitability. Maintains a market-focused approach to business. Keeps an overall big picture understanding of the business and its interrelationships enabling a person to make better business decisions. The ability to make good business judgments and quick decisions in a manner that is likely to lead to a good outcome.
Collaboration: The action of working with someone to produce something
Compliance: Understanding the rules, regulations, sanctions and other statutory requirements, guidelines and instructions relating to governing bodies and organizations, both internally and externally.
Critical reasoning: The action of critically thinking about something in a logical, sensible way and taking all factors into consideration.
Data Management: Knowledgeable of the theory, purpose, architecture and design of the management, administration and relationships of the organization’s data.
Execution capability: The underlying ability to execute a strategy/project or day to day work
Relationship Management: The conscious aim to develop and manage long-term and/or trusting relationships with internal or external customers, distributors, suppliers, or other parties in an environment which can include marketing, selling, servicing and other areas where a relationship is crucial to on-going success. At a senior level, it includes C-level relationships with senior management such as CEO [Chief Executive Officer], CIO [Chief Information Officer], and CFO [Chief Financial Officer].
Reporting: The ability to access information from databases, forms, and other sources, and prepare reports according to requirements.
Risk Management: The process of measuring, or assessing risk and then developing strategies to manage the risk. Strategies employed may include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk.
Self-Mastery: Takes accountability for driving own growth through developing self-awareness, reflecting, seeking feedback and self-correcting.