Head of Reward Asset Management | London, UK

Legal & General; London; On-site; GBP 50,000 - 90,000; Full time

Job description

Company Description

Legal & General is a leading UK financial services group and major global investor. We've been safeguarding people's financial futures since 1836, aiming to build a better society for the long term by investing our customers' money in things that make life better for everyone and create value for our shareholders.

Our Group Functions provide the services that all areas of the business need. This requires a talented and diverse team behind the scenes, who enable everyone at L&G to do what they do best.

Joining us means helping to improve the lives of our customers and contributing to the success of the business every day.

Job Description

To lead advisory and technical policy support to L&G Global Asset Management & Institutional Retirement regarding all reward matters, reporting and practices in accordance with Group policies and regulatory requirements. This also includes planning and executing the annual reward processes, projects, other activities including hiring, promotions and terminations.

This role also includes providing reward advisory for the Private Markets business within Asset Management which is pursuing a growing presence in the international markets, in particular in the US.

Principal accountabilities:

1. Support the Senior Leaders across L&G Global Asset Management & Institutional Retirement regarding all remuneration issues and requests including, developing reward strategies to incentivise, reward and retain employees, working with the divisional HR Director and other key persons to implement an effective reward strategy in line with requirements.
2. Supporting HR Business Partners and Talent Acquisition team with benchmarking requests and preparing recommendations for any adjustments to pay and/or pay opportunity, new hire packages, offer construction, buy-outs, and preparation of proposals in line with company strategy & requirements.
3. Manage the annual reward processes for the L&G Global Asset Management & Institutional Retirement division, including base pay reviews, annual bonus determination, and long-term incentive awards, including, budget coordinating with divisional business heads and HR, implementing and communicating reward outcomes, determination, based on benchmarking analysis, business performance, and Group constraints, adhering to Group-wide reward processes and timelines.
4. Assist in ensuring compliance with remuneration policies and regulatory requirements including, coordinating and managing the divisional Reward Steering Committee and undertaking evaluation and preparing compliance reports (e.g. Code Staff, equal pay, etc.)
5. Development, implementation and oversight of Private markets specific remuneration plans, in particular Carried Interest and associated Co-investment plans.
6. Maintain global focus, ensuring Reward design and execution is designed, positioned (in terms of communication and understanding) and executed in line with global policy but with respect given to country specific nuances (including regulatory obligations).
7. Maintain close working relationship with Division Finance Teams to help inform and guide Reward Design and Execution (including helping to design effective remuneration structures and drive appropriate differentiation of reward outcomes).

Qualifications

• CIPD or significant reward experience in Financial Services (specifically Asset Management and potentially, although not obligatory, experience in the Pension Risk Transfer business)
• Comprehensive modelling and analysis skills using multiple data sources
• IT skills including MS Excel, MS PowerPoint and MS Outlook required
• Able to guide and influence effectively with ability to judge when to challenge
• Broad and deep knowledge/experience in Asset Management including Private Markets (Carried Interest plans) remuneration including the UK and European reward regulatory environment/requirements (MiFIDPru, AIFMD, UCITs)
• Experience in dealing with internationally mobile employees
• Extensive experience in working in Reward for a large organisation
• Financial Services Asset Management experience essential including contributing to the requirements of annual fund reporting disclosures for the Asset Management business.
• Advanced understanding of remuneration plans (both cash, deferred, share and fund based) and associated terminology
• Proven skills in stakeholder management, planning, writing clear and simple papers for leadership team and Board level consumption with proven communication and influencing ability as well as track record of driving continuous improvement in process (and technology where required).

Additional Information

At Legal & General, our purpose is to improve the lives of our customers, build a better society for the long term and create value for our shareholders.