You are on page 1of 2

Case study for: Reward Strategy implementation

Client Profile
The Dubai Financial Services Authority (DFSA) is the sole independent regulator of all financial
and ancillary services conducted through the Dubai International Financial Centre (DIFC).
The DFSAs regulatory mandate covers asset management, banking and credit services,
securities, collective investment funds, custody and trust services, commodities futures
trading, Islamic finance, insurance, an international equities exchange and an international
commodities derivatives exchange.

Objective
PRPi Consulting was asked to work with CEO David Knott to formulate a Reward Strategy and
present this in detail to the DFSA Board within one month.

Clients situation
Our client hired external resource (PRPi) to rapidly co-ordinate previous historical reward
initiatives and the CEOs own ideas to present a coherent and robust strategy to assist in the
future dynamic development of DFSA. It was particularly important that any reward strategy
enabled DFSA to recruit and retain high calibre individuals from international financial
markets.

Solution
Our strategic input included:
Formulating a new DFSA reward strategy
 Advising on salaries, benefits and bonus levels
 Benchmarking all roles to up-to-date regional and international market data
 Advising on a migration strategy including the buy-out of historical benefits


This involved:






Designing a corporate title structure linked to broad banded pay levels


Defining new salary levels and a rationalized, simplified benefits structure
Producing a migration plan to the new broad banded salary and benefits
structure
Developing corporate promotion criteria
Documenting supporting processes and procedures for the communication of
new strategy

Providing observations on broader HR issues and production of a Road Map


for future development
 Presentation of the Reward Strategy and migration plan to the DFSA Board


Benefits
Our client introduced a new system of compensation which was very well received by all
employees and incorporated world class standards in terms of philosophy, performance,
diversity and equity.
What our Client said:
This project was a huge success. We were delighted with PRPis
professionalism, integrity, commercial input and of course, the positive
embracing of the new arrangements by all our staff
David Knott
Chief Executive Officer

PRPI CONSULTING LIMITED

CONFIDENTIAL

PAGE 2