Job Type: Permanent
Job Industry: Financial Services/insurance
Contact Name: Leona McCarthy
Job Location: London
Job Title: European Compensation Partner
Job Salary: £60000 - £70000 Per Annum
Job Start Date:
MUST HAVE EXERIENCE WORKING IN FINANCIAL ENVIRONMENT
Comp Partner for European Business
* Training and support on comp plans and principles for Europe HR team (e.g. salary ranges, bonus plans, equities).
* Support on complex offers (typically in distribution) and terminations.
* Survey submission for Europe – most, in particular McLagan, could be done in US, but some specific surveys benefit from local focus (such as Swiss survey).
* Lead market pricing for European roles (partnering with US on matrix roles as appropriate).
* Partner with global comp partners to ensure fair and consistent approach to regional market pricing and advise on survey data sources and application of local data/ market trends – e.g. partner on pricing, advise on merit matrix changes.
* Review guidance for small offices – consider new data sources and application of salary grades or soft guidance
* Be subject matter expect on reward trends for local HR and management – represent CG at external seminars/conferences. Maintain network of reward contacts at other asset managers. Report back to local HR and US comp team on trends.
* Be active member of the Global comp team – participate in weekly calls, get involved in global comp initiatives. Learn how US plans operate and why. Pro-actively educate US comp team on nuances of smaller office and European comp.
European Remuneration Regulation
* Re the Luxembourg Management company. UCITS implementation and management. Act as secretary to the Remuneration Committee. Oversee fund disclosures and monitor status re proportionality and identification of material risk takers, working with legal, compliance and lux management team.
* CRD – annual review of policy and update based on changes in practice and regulation. Present to board.
* Respond to RFPs (questions typically regulatory in nature)
* Gender Pay Gap – not currently required to disclose, but increasing focus. Calculations would require payroll involvement. The work is in staying up to date with competitor practice and responding to future developments.
* Future developments – expected 2019+ : UK prudential regime for asset managers. Planned updates to CRC IV V. BREXIT.
Sales Compensation Management
* Manage annual sales plan (plan docs etc)
* Regular contact with finance (MHB) to anticipate impact on sales plans
* Updates with HB/GRL/PSMS re new BDM incentive plan
* Project manager and model plan changes or developments (such as changes to senior BDAs)
* Monitor FCA/ESMA guidance re sales incentives (MiFID)
* Support finance/ SAF – provision of information etc. Potential to streamline and centralise this, but still some support provided directly to local finance re forecasting/ brexit planning/ ad-hoc
Luxembourg Warrant Plan Administration
* Luxembourg warrant plan – 3 grants per year. Working with GVO payroll and shared services, manage/oversee plan administration and monitor developments.