Compensation and Benefits Manager

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Compensation and Benefits Manager, London

Client:

PIC

Location:

London, United Kingdom

EU work permit required:

Yes

Job Reference:

1ddd29395c9b

Job Views:

3

Posted:

30.03.2025

Expiry Date:

14.05.2025

Job Description:

About PIC

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

• A hands-on role responsible for supporting the Compensation and Benefits team to help us attract, engage and retain employee satisfaction and a high performing workplace.
• The Compensation and Benefits Manager plays a key role in delivering Compensation & Benefits team activities relating to Remuneration Committee support, salary and benefits benchmarking and Share Awards and performance incentive plans across the Company.
• Ownership of all reward related activities and queries from designated client areas and the HR team to ensure consistency and fairness in our approach.
• The Compensation and Benefits Manager will play a pivotal role in enhancing the employees’ experience in line with the company’s values and priorities.

Specific accountabilities assigned to the role of Compensation and Benefits Manager within the Human Resources:

• Partner with the Head of Compensation & Benefits in the analysis and interpretation of the Gender Pay Gap Reporting, Financial Reporting and Forecasting Budget.
• Prepare comprehensive reports that demonstrate sound analysis and recommendations for process improvement on the different stages of the compensation lifecycle.
• Lead on assigned people related change and transformation projects effectively drawing upon the skills, knowledge and expertise of others within the HR function to drive capability and competency across the business.
• Responsible for the successful delivery of compensation market data analysis for the designated business areas working closely with the Finance Business Partners, HR Business Partners, Talent Acquisition, and senior leaders to effectively manage headcount and employment costs in line with budget.
• Design and develop all employee communication in various formats with the purpose of educating and upskilling employees on Total Reward information relating to all benefits.
• Take ownership of the timely and accurate response to Compensation and Benefits queries from across the business to maintain and exceed the HR function NPS score of an effective HR service.
• Lead on complex and non-complex compensation and benefits data analytics and benchmarking to support Total Rewards decisions and coach managers and senior leaders on its application to ensure consistency and compliance with UK employment legislation and mitigate risk in a regulated environment.
• Effectively collaborate with the HR Centres of Excellence to provide an exceptional people related service to the business that drives our people strategy and supports the achievement of the Company’s strategic objectives.
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Human Resources.
• Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to Total Reward by attending industry seminars, reading and sharing relevant published articles.

Requirements

Knowledge

• Good knowledge of Financial Services regulatory environment.
• Good knowledge of the deliverable to support the annual Remuneration Committee annual schedule.
• Good knowledge of the principles and practices of compensation analysis and benchmarking.
• Knowledge of the deliverables of the annual compensation cycle desirable.
• Knowledge of employee benefits programmes with exposure to pension administration desirable.
• Knowledge of Share Plans would be an advantage.
• Good knowledge of job evaluation and levelling activities within an organisation would be an advantage.
• Intermediate knowledge of HRIS (Oracle is desirable) and a compensation tool with reporting functionality would be an advantage.

Skills

• Advanced knowledge of MS Excel.
• Ability to collate and analyse data to produce clear recommendations for management action.
• Excellent organisational skills, able to multitask and manage competing priorities.
• Good written and verbal communication skills.
• Attention to detail to ensure accuracy with reporting.
• Ability to work under pressure.
• Good working knowledge of MS Word, MS Outlook and MS PowerPoint.
• Strong problem-solving skills.
• Ability to organise work to meet deadlines.
• Ability to work within defined procedures as recommended by functional teams.
• Commercial judgement.
• Ability to persuade and influence both directly and indirectly.

Experience

• Recognised qualification in Accounting, Economics, Mathematics, Commerce and/or accreditation to a professional body in a HR related field would be desirable.
• Proven track record of analysing and interpreting compensation data and applying it within a corporate context.
• Strong experience of analysing and applying market data and survey systems, such as Willis Tower Watson or McLagan within a corporate context.
• Experience of partnering with internal stakeholders to successfully deliver the annual compensation review process on time and within budget.
• Share Plan management or administration, such as SAYE, would be desirable.
• Knowledge of the principles and practices of Gender Pay Gap reporting would be advantageous.

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.