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Head of Performance and Cash Compensation - Director

Employer
Michael Page Human Resources
Location
City of London, England
Salary
Competitive Benefits Package
Closing date
29 Sep 2022
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Job Details


A well-established Financial Services firm based in the City of London seeks a Head of Performance and Cash Compensation - Director to provide deep subject matter knowledge, experience and expertise in performance and remuneration to ensure the smooth running of that service and to continually improve the service.

Client Details

Financial Services

Description

A Head of Performance and Cash Compensation - Director:

  • To establish robust performance and reward frameworks that deliver an excellent employee experience through the year-end salary and bonus review for our client, across all EMEA entities, and year-round processes to review reward on occasion of hire, role change/transfer or promotion.
  • To support the Group to implement projects where a change to its service is required
  • Role interfaces with the wider HR team, with particular alignment with the Talent, Learning and Development team
  • Interfaces with wider scope to control functions, stakeholders within the Planning Group, Control Functions and business managers.
  • Role will have a matrix reporting line for performance experience to the Head of Talent, Learning and Development, EMEA
  • To provide effective project management to three reward analysts, who will support the delivery of BAU and change activity across the Performance, Reward and Benefits areas.

Further accountabilities include:

  • Performance Management: Working with the Talent, Learning and Development team, define and deliver an engaging process to deliver an engaging employee experience, including engaging with key stakeholders to understand the challenges across the business to ensure that the Bank is fair in the way it assesses the performance of its employees. Manage the delivery of the Annual Performance Management review to ensure a smooth, consistent and fair process.
  • Promotion Management: Working with the Talent, Learning and Development team, ensure that the year-end employee experience integrates planning for Promotions; including engaging with key stakeholders to understand the challenges across the business to ensure that the Bank is fair in the way it assesses and administers promotion readiness.
  • Annual Reward Review: Responsible for the annual salary and bonus review; process, including engaging with key stakeholders to understand the challenges across the business to ensure that the organisation is fair in the way it pays its staff and can attract and retain the people we need & who share our vision and values. Evolve the Annual Salary and Bonus review to enhance the employee experience and ensure a smooth, consistent and fair process.
  • Bench-marking: Responsible for the overall delivery of the annual salary bench-marking review across all EMEA entities. Ensuring engagement with line, local and overseas HR Business Partners and seek to improve the process year on year, embedding good data in the Bank's decision-making process.
  • Salary Bands: Responsible for the review and management of the 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 bonus model, including forecasting of bonus outcomes and re-design in light of regulatory requirements.
  • Governance: Managing the drafting of the data and reports for various Branch Boards and their Committees - particularly Remuneration Committees
  • Recruitment: Responsible for the provision of timely, accurate and relevant benchmarks across the business (in conjunction with the salary banding structure).
  • Reporting and Analytics: In support of the HR MI and Analytics manager, develop a reporting framework in support of the Annual Salary & Bonus Review and for monthly management reporting. Ensure data available throughout the year to support budgetary review and accrual/funding processes.
  • Policy: Support the Reward Policy, Governance and Executive Reward manager, and engage with stakeholders, to ensure that Group wide remuneration policies (including remuneration policy, severance policy, performance adjustment policy and guarantee policy) are implemented and communicated. Input into the development of policy to embed excellent employee experience.
  • Budgeting: Engagement with F&C and HR Services on the production and delivery of budget data to F&C on Bonus accruals for our client's legal entities. Working closely with HR Services on activity related to fixed pay budgeting for EMEA.]
  • 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.

Profile

A Head of Performance and Cash Compensation - Director with:

  • Knowledge of the regulatory environment although will not be the subject matter expert
  • Proved track record in managing and delivering on key projects at scale
  • Strong understanding of Performance Management process
  • Strong understanding of bonus modelling.
  • Highly numerical and analytical with a high attention to detail. Strong excel skills
  • High level of competence liaising with senior stakeholders and understanding commercial considerations of reward.
  • Ability to communicate clearly and persuasively both up and across the hierarchy. Expertise in communicating scalable business processes across management and employee populations.
  • 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.
  • Excellent written and verbal communication
  • Relevant experience within Performance Management and in Reward,
  • Degree preferred, CIPD

Job Offer

A competitive salary and package depending on skills/experience along with hybrid working.

Company

Michael Page Human Resources is acknowledged as one of the leading recruitment companies for human resources with over 30 years of recruitment expertise and a team of specialist consultants based in offices nationwide.  If you’re looking for permanent or temporary job opportunities in human resources, let us use our extensive network and strong relationships to help you find you the next step in your career.

Michael Page Human Resources recruit HR roles nationwide, ranging from HR Administrator to Global HR Director and also within the specialist areas of HR including Learning & Development, Recruitment, Reward, and Talent.

We offer vacancies across executive, director, manager and junior levels with many of the UK’s leading companies. Our teams have specialist consultants that focus on permanent, interim and contract opportunities. Find out more about our consultants here.

To get started browse for human resources jobs or contact one of our offices directly to find out how our expertise could make a difference to your HR recruitment process.

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