Senior Compensation Officer – CHRM.3 – The Human Resources Management Department is responsible for developing and implementing professional, effective and efficient HR management service for the benefit of the Bank’s various organizational units; for administering the Bank’s compensation and benefits programs to support the effective implementation of its compensation and benefits policy, in line with the Bank’s People Strategy in order to recruit, motivate and retain staff with a high level of professional excellence.
As the key professional, the Senior Compensation Officer has an important role in the development of strategy, policy, process and guidelines to ensure that the Bank’s compensation, classification and benefits policies and practices are in line with current labor market trends and best practices to attract high quality staff to enable the Bank to address Africa transformation goals.
Duties and responsibilities
Under the indirect supervision of the HR Policy, Programs and Strategy Division Manager, and the direct guidance of the Chief Compensation Officer, the Senior Compensation Officer will:
1. Support the evaluation, implementation and execution of compensation and benefits programs and initiatives and assignments in the Bank to ensure professional management in adherence with internal and external practices, policies and principles.
2. Provide support in the execution of contracted studies, critique related consultant reports; reviews data, analytics and recommendations for consistency and contractual compliance.
3. Contribute to the analysis for the development of high level and strategic management reports to the Board, including recommendations for Board consideration and other review authorities and committees.
4. Collect and analyze data to ensure that the Bank’s remuneration proposals are aligned with international practices which will enable the Bank to attract, motivate and retain the best talent it needs to fulfil the organization’s mission.
5. Formulate and develop policies and procedures relating to the Bank’s compensation, classification and benefits schemes.
6. Monitor comparator practices, market conditions, and classification and compensation trends to contribute towards policy formulation and establish baseline compensation standards to development and subsequent system design of Bank policies presented for Boards of Directors approval.
7. Undertake cost analysis of current Bank policies and procedures to determine effectiveness and related implications with respect to staffing strategies.
8. Organize and manage general salary surveys, surveys of practices in other organizations, and other activities with respect to the total compensation package of the Bank; including undertaking missions to specific country field offices to carry out salary surveys, assess housing indexes, cost-of-living and hardship indicators.
9. Resolve questions relating to compensation and benefits policy; including designing and maintaining proactive communication and information dissemination practices and systems to ensure that key stakeholders access accurate, timely and relevant information. Accordingly, provide guidance and advice to staff and management on compensation, benefits, classification and related resource issues.
10. Advice managers in consultation on decisions relevant to compensation and benefits, merit based employee motivation and periodically, train Managers on the application of different Compensation policies.
11. Analyze components of the remuneration scheme and prepare internal equity and external competitiveness reports; and ensure all employees’ compensation and benefit scheme are applied properly.
12. Apply analysis to create a rewards matrix to execute successful management of the annual salary review for Headquarters and Field Offices staff that ensures adherence to budget allocations.
13. Study performance-related pay systems issues and formulate proposals to improve the Bank’s performance based pay system and develop an annual salary increase matrix.
14. Provide leadership to ensure transparent administration of Bank’s job evaluation and classification program.
15. Develop and manage relationships with the external compensation consulting firms and comparators to ensure delivery of effective services and mutually beneficial relationship.
Including desirable skills, knowledge and experience
1. At least a Master’s degree or its equivalent in Human Resource management, business management, organizational development, accounting and finance or any other related disciplines;
2. A minimum of five (5) years’ relevant experience in compensation and benefits, job classification and conduct of salary survey in salary surveys. Experience in a similar function in a multilateral development institution like the African Development Bank will be an added advantage.
3. Knowledge and experience in organizational efficiency;
4. Strong analytical and written skills ;
5. Strong client orientation and capacity to build and manage relationships at all levels;
6. Demonstrated ability to work in a multicultural team and environment. Perception and understanding of cultural, nationality and gender differences;
7. Proven ability to work effectively in a dynamic and demanding professional environment; manage several tasks at a time; meet deadlines and work independently with minimum supervision;
8. Excellent communication and interpersonal relationship skills;
9. Competence in the use of Bank standard software (Word, Excel, PowerPoint, MS). Knowledge of SAP will be an asset; and
10. Excellent spoken and written English and/or French, with a good working knowledge of the other language.