NMB Bank is a fully-fledged retail and commercial bank in Tanzania. The bank offers banking services to individuals, small to medium sized businesses, as well as large corporate clients. NMB Bank has a wide branch network with over 224 branches, over 6000 NMB Wakala Agents and over 800 ATMs serving over 3 million customers across the country.
With a balance sheet size of over TZS 6.1 trillion, the bank has consistently been the most profitable bank in the country for the last 11 years. NMB Bank is listed on the Dar es Salaam Stock Exchange (DSE)
JOB VACANCY
JOB TITLE: Senior Specialist, Compensation & Benefits
Reporting Line: Head, HR Shared Services
Location: Head Office
Job Purpose
Develop, implement and monitor remuneration and benefits strategies in line with the bank’s and HR strategy as well as guide performance management in the organization in order to ensure staff are productive and highly motivated.
Main Responsibilities:
● Monitor effectiveness of existing compensation policies, guidelines and procedures, recommending plan revision as well as new plans that are cost effective and consistent with compensation trends and Bank’s strategy.
● Implement remuneration and benefits management strategies, policies and interventions in line with corporate priorities.
● Assist in preparation of merit increase and incentive programs and budgeting.
● Ensure market competitor analysis is carried out timely and advise the management on strategies to attract and retain talent.
● Design, evaluate and modify benefits programs and policies to ensure that programs are current, competitive and in compliance with legal requirements.
● Provide on-going compensation and benefits education with management and employees.
● Perform salary and benefits analysis for staff to determine their position against the market and peers
● Develop, manage and ensure an optimal processing of compensation and benefits programs such as annual salary review, variable compensation (bonus), grading, job evaluation, flexible benefits plan etc.
● Analyze costs and competitive trends in cash compensation programs and provide recommendations.
● Implement plans to improve performance, tracking key metrics and adjusting processes.
● Manage executive payroll and assist in processing other payrolls.
● Participate to ensure statutory deductions are remitted timely.
● Compile and analyze performance management data to align with best practices.
● Suggest best ways to improve performance in an organization and reward best performers.
Qualifications and Experience:
● A minimum of a bachelor’s degree or its equivalent in Human Resources, Business or related discipline
● Certified Compensation Professional (CCP);
● Hay certifications are an added advantage
● Experience in HR Systems, remuneration & benefits design and management is critical.
● A minimum of 4 years’ experience in Compensation and benefits.
Skills and Knowledge
● Extensive understanding of the organization's compensation rules and benefits packages
● Knowledge of the market practices, Performance Management, Compensation and Benefits.
● Solid understanding of compensation concepts, including job analysis, market pricing, and total rewards.
● Solid communications skills and problem-solving tactics.
● Demonstrated strong analytical skills and ability to successfully perform in-depth analyses.
● Must possess strong attention to detail and the ability to see the big picture. Strong computer skills, particularly Microsoft Excel.
APPLICATION INSTRUCTIONS:
If you want to apply for this job, click below:
NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
Deadline: 26th December 2020
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