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Head of Cash Comp - EMEA

Our client is a very well respected Docklands based Investment Bank. The role involves working on a variety of processes across Compensation & Benefits with responsibility for the Cash Compensation globally, and the Compensation & Benefits lead for Europe, Middle East and Africa.


1. Being the first point of contact for market data and related compensation analytics globally,
2. Being the EMEA lead across both Compensation and Benefits, and
3. Day to day line management of employees

This role comprises:


Cash Compensation
Manage annual survey participation globally, including:

· Management of the relationship with 2 major vendors with a spend of c. £500,000 annually

· Liaising with other niche vendors as required

· Manipulating large volumes of data both for participation in surveys and analysis of results once returned

· Global management of the tools used for data manipulation

Production of firm wide hiring guidelines to reflect changing business needs and ensure ranges are derived at a market competitive and commercially viable level.
Recommend salary policy for the firm annually, including:

· Influencing Finance to inform their budgeting process

· Pre-populating the internal compensation recommendation tool with salaries for the Front Office and parts of Infrastructure to target budget at pre-determined populations (e.g. employees below market, promotions)

Manage the annual compensation round process, including:

· Facilitating Global HR project team who meet regularly to drive process forward

· Oversight of secretarial compensation, including supervising work undertaken within the team to:

· Oversight of graduate compensation (Analysts and Associates - both on the programme and their subsequent comp progression) including:

Manage communication of compensation annually, including design and production of:

· Guidelines for communicating managers

· The global template for compensation profile

· Production of compensation profiles using global template

· Production of total reward statements for Managing Directors


Benchmarking of Senior Management and Top Paid employees for RemCo

Linking in with the Bonus Analytics team to forecast the Infrastructure Bonus Pool and inform the wider forecasting process, including:

· Modelling the overall Infrastructure Bonus Pool and the breakdown thereof, based on many variables (e.g. market position, individual performance, temperature index etc)

· Liaising with external vendors to provide regular trend reports to allow the affordability and demand modelling to be run based on realistic projections.

Working with Infrastructure Support Heads to assist them in managing their bonus pools and salary budgets, including:

· Modelling based on market position, internal relativities, prior year compensation, mix of pay etc

· Pre-population of internal compensation recommendation system

· Advice on breakdown of pool

· Assistance in pitching for additional spend

EMEA Compensation & Benefits
Partnering with local HR across the region to:

· Comply with legislation and local practices (e.g. works council compensation reporting, pension changes etc)

· Assist with renewal of benefit plans including working with brokers and with Barclays Group using the multi-national pooling arrangements.

· Review opportunities arising from changing legislation to maximise tax efficiency of compensation

· Effective working through the year-end compensation process, including assisting with production of local language compensation profiles

· Advise on individual cases (e.g. senior management pension arrangements, leavers with shares)

· Plan initiatives to standardise C&B across the region or if more appropriate ensure we are locally market aligned with our offerings (e.g. standardising car benefit for Spain; implementing long term disability coverage in Italy).

· Assistance with preparing for opening offices in new locations (e.g. hiring guidelines for Prague; research into C&B issues in Moscow).

General

· Cross-team working - into plans and benefits space

· Assessor at HR graduate and intern assessment centres

· Act as a mentor for the wider analyst and associate population across the firm

· Experience in exiting and performance managing employees

· Interviewing candidates across other HR teams

· Working across the wider Group, for example:

· Rep for project team to investigate and implement a global share scheme

· Sharing work done to implement the UK based Scholarship & Bursary Programme.
Experience Required:

· Work experience involving interaction with a variety of levels, internal or external.

· 7-9 years Compensation & Benefits experience.

· Ideally survey experience, such as McLagan, MGMC Towers Perrin

· Ideally some form of equity / deferral plan experience.

· Experience of building strong relationships across functions and locations

· Diplomacy in dealing with senior members of staff globally
Preffered:

· An understanding of the investment banking business, the environment and its people.

· Day-to-day line management skills

· Project management and ability to work effectively to exacting deadlines.

· Highly numerate

· Strongly analytical and an effective problem solver.

· IT literate, exceptional Excel skills.

· Strong attention to detail.

· MS Access database skills

· Initiation and manipulation of tasks and the ability to problem solve

· Good communication skills