Job Description
Hello future Share Schemes Administrator
FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand’s business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you!
Job Profile Summary
Under limited supervision, provides specialised administrative support to the Group Share Schemes function by administering all employee share schemes end-to-end on the share scheme platform. The role is accountable for the accurate loading and maintenance of scheme data, the running of the annual award and vesting cycles, monthly reconciliations and charge-outs, and the correct application of scheme rules to awards, terminations, transfers and settlements. The incumbent is expected to have a strong working knowledge of the share scheme system and its interfaces, and to identify, test and recommend system and process improvements. The role works closely with accounting, payroll, tax, treasury and stockbroking teams to ensure accurate financial processing, funding and payment. Understands the statutory and legal obligations, group policies and regulatory requirements applicable to the job function. Collects, compiles and analyses complex data for both monthly and ad-hoc reporting and exercises independent judgement and reasoning within mandate.
Are you someone who can:
- Support the consolidation of the segment share allocation lists into the group Masterfile and prepare the summary of offers submitted to the Remuneration Committee and CEO for final approval
- Load approved bulk and ad-hoc awards onto the share scheme system, verifying award date, award price and awarded units prior to approval
- Issue award and offer letters, load supporting documentation into the participant's electronic file and manage acceptances, declines and amendments
- Administer ad-hoc awards granted outside the annual reward cycle, including awards made during closed periods, in line with agreed guidelines and in conjunction with Group Treasury
- Maintain accurate participant, award and scheme data to support share-based payment accounting and financial reporting
Annual vesting and settlement process
- Run the annual vesting cycle end-to-end, confirming that all vesting conditions have been met and appropriately approved before any settlement is processed
- Administer participant settlement elections (cash or shares), including the bulk transfer of restricted shares into unrestricted stockbroking accounts and the release of restrictions on vesting
- Apply for tax directives from the South African Revenue Service and ensure that tax is accurately calculated, settled and reconciled on all settlements
- Prepare and submit payment instructions to payroll and shared services within agreed cut-off dates, ensuring adequate hand-off of information and supporting documentation
- Perform proxy trades on behalf of participants who are unable to transact, within mandate and in line with approved segregation of duties
- Manage participant queries on awards, vesting, dividends, tax and scheme rules, and support scheme communication and participant education
Terminations, transfers and application of scheme rules
- Monitor the interface between the human capital system and the share scheme system to identify terminations, transfers and cost centre changes, and resolve exceptions timeously
- Administer manual terminations for entities outside the core human capital system, including monthly confirmations from in-country payrolls, formal follow-up and escalation, and retention of supporting evidence in an approved repository
- Apply the correct scheme rules to fault and no-fault terminations, including retentions, pro-rata reductions, forfeitures, lapses and transfers of forfeited shares
- Administer inter-company transfers of participants and the recovery of settlement costs between employer companies
- Run monthly reports to ensure that new participants are correctly loaded and that terminations are checked against the database and processed in line with policy
Accounting, reconciliation and payroll interface
- Reconcile monthly general ledger balances, share scheme and bank reconciliations and related invoices, and identify and resolve invoicing issues, accounting discrepancies and other financial related issues
- Prepare and adjust financial journal entries as required, ensuring calculations are accurate, valid and supported by an adequate audit trail
- Prepare monthly charge-outs and cost recoveries to business units and support the annual budget and forecasting process for the schemes
- Work closely with the accounting, treasury and tax functions on scheme funding, share-based payment inputs and valuation data, and resolve queries raised
- Partner with payroll and shared services to ensure accurate and timeous processing of settlements, employee tax deductions and directives, including reconciliation of amounts processed
System understanding and system improvement
- Develop and maintain an expert working knowledge of the share scheme administration platform and its interfaces with the human capital, payroll, stockbroking and accounting systems
- Take ownership of data integrity on the system, including bulk uploads, exception and error handling, correction of failed or suspect records and re-processing of data
- Provide input into system enhancements and releases by defining business requirements, participating in testing and user acceptance testing, and supporting implementation and post-implementation review
- Identify manual and spreadsheet-intensive activities, flag opportunities to automate and migrate to platform, and support the use of technology in process and system improvements
- Support user access administration, including role and profile definitions, the user access matrix and maintenance of appropriate segregation of duties
- Apply advanced Microsoft Excel skills to validate system data, reconcile large data sets and produce analysis, while complying with critical spreadsheet requirements
Governance, risk, audit and record keeping
- Administer the schemes in line with the approved scheme rules, group policies and applicable legislation, including the Companies Act, Income Tax Act and listing requirements
- Maintain current process documentation and run books, including the risk and control assessment, with clearly defined roles, responsibilities, approvals and mandates
- Prepare and provide evidence for internal and external audit reviews and implement agreed management actions within the committed implementation dates
- Identify, capture and report operational risk events on the approved risk system within the required reporting timelines
- Implement and maintain both electronic and manual filing systems and ensure departmental record keeping meets group records management requirements
Reporting and analysis
- Collect, compile and analyse complex data and information for monthly, annual and ad-hoc reporting requirements
- Provide timeous reports on operations, performance, scheme balances and audit findings, and report on transactional activity within set guidelines to enable decision making
- Complete relevant administration, reporting and updating of information accurately and on time, and continually investigate new ways to optimise reporting
Service delivery, cost management and relationships
- Contribute to a client service delivery culture by adhering to approved service delivery principles and relevant service level agreements, and by offering appropriate solutions
- Resolve customer dissatisfaction and complaints by taking ownership of the problem through to resolution
- Build and maintain relationships with the reward, human capital, finance, treasury, tax, payroll, stockbroking and audit teams in order to deliver on work expectations
- Demonstrate cost consciousness, identify and escalate potential risks that may lead to increased costs, prevent wastage and identify process improvements that contain and reduce costs
- Produce high-quality work by adhering to predefined standards, procedures, quality standards, turnaround times and compliance and governance requirements
Personal development and teamwork
- Seek out regular performance feedback, identify activities to address own development gaps and agree a personal development plan with the team leader or manager
- Keep abreast of learning opportunities, changing products, scheme rules, tax treatment and market trends relevant to share scheme administration
- Contribute to teamwork and inclusivity by working together to achieve team goals, valuing individual contributions, respecting diversity and sharing information and knowledge that benefits the team, including cross-training to reduce key person dependency
You will have access to:
- Challenging work in a complex and exciting environment
- Opportunities to innovate and create efficiencies.
- Be part of a high-performing Group Reward team
- Work on impactful projects involving data, systems, and process optimisation
- Opportunity to influence decision-making through analytics and insights
- Exposure to cross-functional collaboration across HR, Finance, and IT
We can be a match if you are:
- Curious & courageous - you're driven by always wanting to know more and learn more and you're brave enough to
- Obsessed with mastery - you know what it takes to become good at what you do and are constantly pushing yourself to do it.
- Have a general understanding of different risk types.
Are you interested in taking the step? We look forward to engaging with you further. Apply now!
#Post
#FCC
#LI-NK2
Important Closing Date Note
Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.
08/09/26
All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.