Remuneration Committee Member will be tasked with providing general counsel to provide the Committee leadership insights.
- Provide understanding and legislative insights and guidelines about the rule of law
- Possess knowledge and understanding of Talent Management Frameworks and approaches
- Provide insights and leadership that will ensure effective Succession planning for the Clients leadership and mission critical positions
- Provide leadership and insights in ensuring appropriate remuneration framework, which is fair responsible, transparent, ethical and is aligned to the Clients overarching business strategy, risk management strategy and King 1V.
- Provide leadership and assurance to the Clients governing body about the development, implementation, and maintenance of an ethical culture
Qualifications and Experience
- Minimum: Bachelor’s Degree or an admitted HR professional with at least 10 years post admission experience, at least five years experience of service as a NED, preferably as an REMCO Committee Member.
- At least Ten (10) years in Senior Management in the relevant field, Strong Leadership and Excellent Oral Communication.
- Affiliation with IODSA is recommended.
- Any other advance qualification would be added advantage
- A minimum of 5 year’s experience in remuneration committee or executive management, preferably in the public sector, is required.
Applicants Must Demonstrate:
- A sense of integrity and strong ethical values;
- An ability to act honestly and in good faith in the public interest;
- Sound understanding of the mandate of the committee;
- Independence and objectivity;
- Goal oriented and transformative;
- Good understanding of audit and risk management practices;
- Leadership qualities;
- An understanding of the business of Company and applicable accounting standards;
- Applicants must show willingness to exercise due diligence, and to provide sound advice to the Company
- Overall, applicants will execute the committee mandate, as articulated in the Committee ToR. This includes:InIn terms of section 34(3) of the public audit act, 2004 (Act No. 25 of 2004), the auditorgeneral is responsible for determining the terms and conditions of employment of all Company’s employees.
- The auditor-general in terms of section 5(2)(bA) of the act must establish a remuneration committee.
- The committee shall make recommendations to the auditor-general in respect of the following matters:
- The general trends and practices regarding employment benefits, including the structuring of conditions of employment and remuneration packages;
- The framework or broad policy for remuneration of the Company executive and senior management;
- The targets and rules for any performance-related pay schemes operated or to be operated by the Company
- General salary increases and mandates for negotiations, where applicable;
- Within the terms of the agreed policy, the total individual remuneration packages of each executive member of the Company management team (executive committee members and business executives), including, where appropriate, bonuses and incentive payments; and
- Any other human resource management-related issues impacting on the remuneration which the auditor-general may wish to table for discussion by the committee.
- In determining the policy for remuneration of the executive and senior management, the committee shall take into account factors which it deems necessary. The objective of such policy shall be to ensure that members of the Company executive management are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the success of the Company
- The chairperson shall provide the auditor-general with formal feedback on the committee’s recommendations at a time as agreed between the chairperson and the auditor-general.
- The committee should ensure that remuneration is disclosed by the Company by means of a remuneration report in three parts:
- A background statement.
- An overview of the main provisions of the remuneration policy.
- cAn implementation report which contains details of all remuneration awarded to individual members of the governing body and executive management during the reporting period. Thus the remuneration committee must ensure Company report on the remuneration report as per King IV recommendations. 5.5 In addition, the remuneration committee is mandated to make recommendations to:
- the independent commission on the salary, allowances and benefits of the auditorgeneral; and
- the auditor-general on the conditions of employment, the remuneration, allowances and benefits of the employees of the auditor-general contemplated in section 34.
- It is the norm that the committee meets three times a year during the following months:
- February to approve the annual increases
- June/July to review the performance bonuses
- November to review the human resource issues of the Company
All responses should be sent via email to firstname.lastname@example.org
Closing date for applications is 05 December 2022
For more information, go to Placement Partner