VP Cash Compensation and Reward Manager - London, United Kingdom,
Must have FS regulatory experience inc. Guarantees, Material Risk Takers, SMR
Strong comp and reward backgorundAbout Our Client
A global Financial Services firm is looking for a VP Cash Compensation and Reward Manager to join their wider Human Resources and Personnel team in LondonJob Description
Purpose of the VP Cash Compensation and Reward Manager in London:
- To provide deep subject matter knowledge, experience and expertise in Remuneration and Regulation to ensure the smooth running of that service and to continually improve the service
- To support the delivery and design of the annual salary and bonus review for the business
- To support the Group implement projects where a change to their service is required
- To provide effective management of two reward analysts
- Annual Review: Responsible for the annual salary review process, including engaging with key stakeholders to understand the challenges across the business to ensure that the Bank is fair in the way it pays its staff and can attract and retain the people we need & who share our vision and values. Manage the delivery of the Annual Salary and Bonus review to ensure a smooth, consistent and fair process.
- Benchmarking: Administer that the annual salary benchmarking review across all EMEA entities. Engaging with line, local and overseas HR Business Partners to educate and analyse the data to provide insight to the compensation data.
- Salary Bands: Responsible for the review and management of the business salary banding structure including annual reconciliation against internal and external comparators. Management of the implementation and design of the Bank wide policy and modelling of outcomes on fixed pay.
- Bonus Modelling: Development and administration of the EMEA bonus model, including forecasting of EMEA bonus outcomes and re-design in light of regulatory requirements.
- Governance: Managing the drafting of the data and reports for the business and their Committees - especially Remuneration Committee
- Recruitment: Responsible for the provision of timely, accurate and relevant benchmarks across the business (in conjunction with the salary banding structure).
- Reporting and Analytics: Management of the delivery of ad hoc reporting for Rem & Regs team including but not limited to Recovery & Resolution Planning. In support of the HR MI and Analytics manager, development and management of a reporting framework in support of the Annual Salary & Bonus Review and for monthly management reporting.
- Policy: Support the Regulation and Governance reward manager by engaging with EMEA stakeholders to ensure that Group wide remuneration policies (including remuneration policy, severance policy, performance adjustment policy and guarantee policy) are communicated. Input into the development of policy as regulations change across the EMEA region.
- Projects: Participate in cross-departmental initiatives and develop compensation projects within the region.
- Collaboration: To maintain relationships and work closely with international Business Partners and ensure that the local context and economics are included in any compensation decisions.
Experience for the VP Cash Compensation and Reward Manager:
- Knowledge of the regulatory environment including Guarantees, Material Risk Takers, Remuneration Code and Senior Manager Regime
- Proved track record in managing and delivering on key projects.
- Strong understanding of bonus modelling.
- Highly numerical and analytical with a high attention to detail
- High level of competence liaising with senior stakeholders and understanding commercial considerations of reward.
- Ability to communicate clearly and persuasively both up and across a hierarchy.
- Able to explain complex financial data and communicate it in an easy way to understand
- Excellent organisational, analytical and planning skills with the ability to manage competing priorities and stakeholders.
- Relevant reward experience as a Compensation Manager