Reward Specialist at First Bank of Nigeria Insurance Limited

Employment Nigeria 05-Feb-2016 NIGERIA , Insurance

First Bank of Nigeria Insurance is a limited liability company licensed to transact Insurance businesses in Nigeria. The Company is jointly owned by FBN Holdings Plc (65%) and the Sanlam Group, one of the largest financial institutions in South Africa (35%) and it officially commenced operations on the 1st September 2010.

POSITION : Reward Specialist

Job Id: RWDS/2516

Duties and Responsibilities

Plans, organizes and conducts benefits orientations to employees - for new hires at time to register for benefits selections and for current employees, at time of a qualifying event.
Process and reconcile billing for all benefit programs.
Manages the compensation system. Performs job analyses and evaluations. Establishes the wage and salary structure, pay practices and variable pay systems, including bonus and incentive programs.
Develops compensation related plans that coincide with job evaluations, pay budgets and compensation trends and regulations. Maintains the timeliness and accuracy of market comparisons for wage and salaries by participating in salary surveys. Recommends and administers approved individual pay actions, annual increases and pay structure revisions.
Coordinates and communicates benefits programs per policy such as Leaves of Absence, Employee Assistance Program (EAP), Tuition Reimbursement, social club membership etc.
Develops, implements and maintains ongoing employee recognition initiatives. Coordinates employee recognition programs and social events.
Stays abreast of changes and updates of Human Resources functions and prepares and provides recommendations to policy/procedure changes to CHRO.
Calculates, analyzes and monitors cost of coverage for all benefits plans and programs. Works closely with Finance department to ensure accurate and timely processing of payments, while continually reviewing expenses and generating reports and recommendations to leaders.
Perform other duties as assigned.

Qualifications and Experience

Bachelor's Degree or equivalent in Human Resources.
Minimum of 2 years Human Resources and benefits & compensation experience highly desired
Professional in Human Resources (PHR) or Senior Professional in Human Resources (SPHR) required, or within two (2) years of hire (or based on approved individualized certification plan). Certified Employee Benefits Specialist (CEBS) or a CEBS subset and Certified Compensation Professional (CCP) highly desired.

Competencies
The Person should have the following competencies:

To perform the job successfully, an individual should demonstrate the following behavioral competencies to perform the essential functions of this position:
Problem Solving - Presents problem analysis and recommended solution to others rather than just identifying or describing the problem itself.
Innovative - Able to assimilate and apply changes to business practices
Customer focus - Asks questions to identify client s needs or expectations; takes time to question and understand the real, underlying needs of clients, beyond those initially expressed.
Effective Communication - Acts to understand and respond appropriately to the concerns of others; demonstrates openness and receptivity to new information.
Teamwork - Proactively shares relevant or useful information and learning with colleagues; keeps other team members up to date.
Build Capability - Identify, create, develop and audit organisational capabilities required for sustainable organizational success.
HR Innovator & Integrator - Develop and integrate innovative talent practices towards solving business problems.
Change Champion - Develop internal capacity for change at individual and organizational level in line with changing environment.

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Reward Specialist at First Bank of Nigeria Insurance Limited

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