Job Type: Permanent
Job Industry: Financial Services/insurance
Contact Name: Robert Lynch
Job Location: London
Job Title: Reward Manager
Job Salary: £75,000 - £85,000 Per Annum
Job Start Date:
Portfolio HR & Reward are working with an international multi award-winning Financial Services brand looking to hire a Reward Manager.
This is a hybrid role (2-3 days in the office per week) based in Central London on a 12 Month Fixed-Term basis.
* Work with Procurement and the Country Head of HR to lead the selection and management of third-party suppliers relating to the Reward function.
* Manage the annual processing and evaluation of the Bank’s benefits portfolio as well as an ad hoc scheme change that are required, adhering to delivery and communication timetables.
* Overall responsibility for the day-to-day running of the benefits administration
* Ensure the schemes premiums are paid in a timely manner.
* Work alongside 3rd party benefit administrator/advisors and manage ongoing relationships.
* Take ownership of the local reward process including payroll, job harmonisation, salary and benefits benchmarking and survey activity. In conjunction with the Country Head of HR, manage the annual salary and bonus reviews.
* Prepare salary/benefits cost for annual budget.
* Monitoring and monthly reconciliation of all HR related suspense accounts e.g., pension brokerage, pensions, expats, payroll, tax, loans etc. Ensuring that reconciliations are signed off on a monthly basis.
* Preparing monthly analysis of the HR management account for the HR Director of actual costs versus budgeted costs, including commentary on the differences.
* Overall responsibility for the payroll process. Ensuring payroll information is sent to the external payroll provider on a timely basis (and in line with strict authorisation controls), payroll is checked and the salary account is funded to ensure that salary payments can be made.
* Ensure payroll submissions are accurate, and be accountable for its accuracy
* Ensure all changes are entered accurately and in a timely basis on the payroll database
* Responsible for ensuring that all payroll transactions are recharged to the appropriate cost centre and that the uploading process is in line with the appropriate controls.
* Ensure all EXPAT invoices made through account payable are grossed up through payroll
* Ensure all EXPAT EURO payments are made through HSBC in a timely manner
* Maintain/monitor relationship with payroll provider
* Ensure all new joiners pension are processed correctly on payroll
* Reconcile the monthly pension contributions before payroll is finalised.
* Ensure monthly payments are loaded into the Aegon site for payment
* Coordinate Pension Governance meetings on a quarterly basis
Policy and Governance
* Manage the reward aspect of all people policies, ensuring standard Terms & Conditions and other relevant contractual documents are maintained
* Ensure all regulatory requirements relating to reward are adhered to
* Ensure that team are adequately trained on all processes and that SOPs are kept up to date.
* Assist the HR team to streamline and automate processes
* Managing the team responsibility for all financial, reporting and benefit related HR activities
* Ensure that monthly analysis reports (such as turnover, headcount, vacancy, sickness) and ad-hoc reports are delivered as required
* Ensure delivery of monthly headcount reports
* Proactively review and propose reporting that might better support the business on an ongoing basis
Annual HR Activities
* Tax year end administration
* Preparation of P11ds for all employees
* Class 1A NIC contribution calculation and payment
* Liaise with the tax department re PSA calculations and payments
* Calculate directors emoluments for auditors
* Renewal of flexible benefits programme
* Review all Compensation and Benefits processes to ensure they are compliant and up to date
* Work with NL to support the upgrade of the HRIS, ensuring the UK derives maximum benefit from the HRIS and other relevant systems
* Ad-hoc projects as required
* Solid experience as a Reward Manager
* Experience within Financial Services
* Excellent analytical skills