Group Head of Reward

  • Location: Gloucester
  • Duration: Permanent
  • Working hours: 35 hours per week, Monday to Friday
  • Application end date: 22/10/21

About the role

To lead the strategic development and operation of the Group’s remuneration strategy, including executive remuneration, base and variable pay, pension and benefits. To lead the development of the Group’s core HR systems and HR analytics capability. As a member of HR leadership team, to contribute to development of wider HR strategy for the Group.

Key accountabilities

  • Lead the strategic development and operation of the Group’s remuneration strategy.
  • Lead the delivery of all aspects of executive remuneration iro executives, senior leaders and material risk takers, acting as a trusted advisor to Group and subsidiary Remuneration Committees.
  • Lead the design, development and implementation of Group’s annual bonus and LTIP schemes across the Group’s Divisions and SBUs.
  • Lead the development and operation of the Group’s job evaluation, pay and grading, and remuneration benchmarking processes.
  • Lead the delivery of annual remuneration cycle including pay benchmarking, union negotiations, employee pay review, variable pay target setting and outturns.
  • Ensure compliance of the Group’s remuneration arrangements with current and emerging remuneration regulation (including Solvency II, MIFIDPRU and UCITS remuneration codes).
  • Lead annual remuneration reporting, including authoring Directors Remuneration Report and regulatory disclosures.
  • Lead the development and operation of the Group’s core and voluntary benefits offering, including risk benefits, flexible benefits and legacy company car scheme.
  • Lead the development and operation of the Group’s EIO GPP (DC) and legacy SRBF (DB) pension schemes and provide consultancy and governance oversight iro SBU pension schemes.
  • Lead the Payroll function for centrally serviced UK and Ireland SBUs and ensure compliant employee taxation arrangements iro international double-taxation, dual location working and taxable benefits.
  • Ensure the delivery of an effective control environment for Reward including effective compliance with GDPR.
  • Lead the strategic development, progressive roll out and operation of the Group’s core HRIS, iTrent, and the development and delivery of HR management information and analytics.
  • Ensure effective service delivery, cost management and thought leadership from the Group’s strategic reward partners including the Remuneration Committee Advisor, benefit partner and DC and DB pension administrators.
  • Act as a member of the HR leadership team, contributing to the development of wider HR strategy for the Group.

Knowledge, skills and experience

  • Experience at a senior level across the full reward agenda, including executive remuneration (essential) and (the majority of) base pay, variable pay, benefits, and DC and DB pensions.
  • Experience of delivering remuneration within a regulated financial services business is strongly desirable (with additional experience of delivery within asset management beneficial), with sound understanding of relevant remuneration regulation.
  • Appetite and ability to roll sleeves up and personally deliver across a both strategic and BAU operational deliverables.
  • Excellent organisational skills, ability to work to tight deadlines across a busy portfolio whilst not compromising on quality and accuracy.
  • Excellent analytical and numerical skills.
  • Strong written communication skills, including experience of drafting Board papers and regulatory disclosures.
  • Highly credible, with personal authority and credibility to establish a strong and effective presence at Board Level.
  • Strategic thinker, with ability to translate strategy into operational delivery.
  • Credible, with proven ability to build effective relationships and influence stakeholders both internally & externally.
  • Strong leadership and engagement skills, with demonstrable ability to lead, direct and coach team.
  • Proven strong consultancy skills and experience of co-creating solutions with business leaders and HR colleagues.