Senior Compensation Specialist

2 weeks ago

London, Greater London, United Kingdom Canada Life Full time

Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Job Summary: We are looking for an experienced individual to join the Canada Life Reward team to support and lead preparation for key activity associated with our annual pay review as well as providing input and support on reward projects, analysis and insight.

This role is the subject matter expert lead on applying the Willis Towers Watson methodology within Canada Life. The job holder maintains the WTW Global Grading System and is required to analyse and interpret data reports generated from the system, to ensure our evaluation processes are fit for purpose. The role holder supports and guides line managers on job description completion, as well as explaining the benchmarking outputs to all levels of management.

The role holder is also responsible for assisting with data analysis and reporting required by the reward team. This includes analysis and reporting in support of the annual salary review process, the external data submission process for our compensation data providers, production of regular benefits reporting such as the pension contribution report and starters/leavers benefit reporting as well as the gender pay analysis requirements and equal pay audits in support of our Diversity and inclusion agenda. The role also supports global mobility and is responsible for reporting and managing the global mobility tracking processes for the UK (e.g. Short term business visitors, international movements etc)

The role holder is responsible for managing all compensation aspects of Organisation Transformation activity including but not limited to providing oversight and technical input to manage and develop job evaluations and maintain MI reporting (dashboard and tracker).

If you are a self-starter who is collaborative and motivated by improving processes and making an impact then this role could be for you

Responsibilities:1) Own all job evaluations using the Willis Towers Watson Online Global Grading System, ensuring it is always accurate and up to date and that the reporting capability from the system is maximised. Prepare content and/or documents from the Global Grading System for CCF board and other senior level audiences. Own all Reward queries.Support and completion of any compensation cyclical activities as required, including regulatory reporting. Full ownership of all salary survey submissions.

2) Completion of all analytical requirements for the annual review cycle which is managed on Success Factors and carry out UAT testing. Support on continuous improvement of the Compensation and Variable pay module.

3) Own the job profile list spreadsheet and oversee position management in Employee Central on Success Factors. Ensures that the reporting requirements are included for new initiatives and develops MI and reporting on a continuous basis as required, in order to maximise insight and effectiveness.

4) Support the Compensation Manager in ensuring high quality market analysis based on current benchmark material is available to support project and BAU compensation processes, to ensure a competitive overall market position for the company. Explain benchmarking outputs to all levels of management with justification for evaluation and interpretation of the data within Willis Towers Watson, McLagan and Polymetrix survey data. Develop reporting capability and enable the dissemination of information in an easily understandable and actionable manner.

5) Provide comprehensive analytical input to key reward initiatives including Gender & Ethnicity reporting, functional remuneration and incentive schemes benefit programs, reward policy and processes.

6) Act as a technical expert on job description completion in order to support and guide People Leaders on the creation of JDs. Close collaboration and communication with all levels of management and internal stakeholders, to ensure maximum business effectiveness is derived from the creating of new position descriptions. Collaborate with Systems teams, PRPs etc.

Experience Required:
• Experience working in a specialist compensation role as a subject matter expert within a centre of excellence HR model is essential
• Understanding and experience of the Willis Towers Watson job evaluation methodology, with the knowledge and capability to use and report from the Global Grading System (GGS).
• Experience in job matching using multiple surveys such as Willis Towers Watson, McLagan & Polymetrix.
• Demonstrable experience in accurate analysis and submission of data for regulatory reporting and reporting to external bodies.
• Very strong analytical and numerical skills
• Advanced user of Microsoft Office - Excel, PowerPoint and Word. Experience using vlookups, Pivot tables, Index Matching, IF/SUM formulae.
• Ability to manage and interpret large sets of data
• Previous experience using SAP Success Factors
• Able to provide a positive partnering approach with colleagues and stakeholders
• Ability to work within a virtual team with colleagues and stakeholders spread across multiple locations
• Strong delivery and customer focus
• Proactive and self-reliant
• Demonstrates sound judgment in knowing when to escalate issues or seek support from colleagues
• Communicates clearly and effectively across all levels of management
• Strong knowledge of the financial services regulatory environment in connection with SMCR

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