Rewards & Benefits Manager

Reporting to the Head- HR Shared Services, the role is responsible for preparing and coordinating the production of the Bank’s financial reports in line with the Group’s accounting policies, regulatory framework and managing risk through a fully reconciled balance sheet.

To ensure adequate availability and correct utilization of long term funds, manage relationships with funders and optimize interest expense through proactive tracking and forecasting of funding requirements, funding mix and cost of funds.

KEY ACCOUNTABILITIES

• Develop, implement and continuously review the Bank’s reward and benefits framework to ensure internal equity, market competitiveness, employee value proposition alignment and compliance with applicable laws, policies and governance requirements.

• Manage end-to-end benefits administration, including eligibility validation, enrolment, employee communication, monthly updates, claims support, renewals, vendor performance monitoring, reconciliations and timely resolution of employee queries.

• Administer medical insurance by coordinating staff and dependent enrolment, additions, deletions, premium schedules, claims escalation, utilization analysis, renewal negotiations and staff sensitization.

• Coordinate life assurance, disability cover and workman’s compensation arrangements, ensuring accurate membership data, timely premium processing, claims coordination, compliance documentation and effective liaison with insurers and brokers.

• Oversee leave entitlement administration by ensuring accurate leave policy interpretation, system updates, reporting, exception monitoring, advisory support to managers and alignment with labour law and Bank policy.

• Manage provident fund administration and perform principal officer responsibilities where applicable, including coordination with trustees, fund administrators, regulators and internal stakeholders; ensuring accurate contributions, timely reporting, member education, reconciliations and compliance with fund rules.

• Administer staff welfare and recognition benefits including gym, lunch, gifts, handsets, airtime, fuel and other approved benefits, ensuring transparent eligibility, allocation, controls, vendor coordination and cost monitoring.

• Manage staff loan benefit administration in collaboration with relevant internal stakeholders, ensuring adherence to policy, accurate documentation, eligibility validation, approvals, reporting and employee communication.

• Partner with Finance, Procurement, Risk and Legal to manage rewards and benefits budgets, contracts, vendor due diligence, service level agreements, reconciliations, risk controls and audit requirements.

• Conduct benefits benchmarking and market analysis to support recommendations on benefit design, cost optimization, competitiveness and employee value proposition improvements.

• Prepare accurate rewards and benefits reports, dashboards, analytics and insights for  management decision-making, including utilization trends, cost drivers, employee uptake, claims experience and compliance status.