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Associate, Reward
3 months ago
Requisition ID- 34661- Office Country- United Kingdom- Office City- London- Division- Human Resources & Org. Development- Contract Type- Fixed Term- Contract Length- 2 years- Posting End Date- 31/05/2024**Purpose of Job**
The Associate, Reward and Policy Implementation is responsible for keeping up to date with Reward and Policy best practices and helping Director Rewards and Principal, Reward and Policy Implementation in supporting HR Transformation agenda with regard to the Bank’s reward package. In particular, the role requires providing support towards:
- Establishing and continuously assessing of the market competitiveness of the Bank’s reward package whilst aligning it with the strategy of the Bank in attracting, motivating, and retaining talent for new market practices.
- Program management of Rewards and Policy Review for new HR system integration.
- Ad hoc Reward and Benefits Project support
Herein, the tasks will vary in nature and will include working in partnership with the Reward and Benefit Teams producing documentation, analytical reports, developing communication materials and providing expert advice and guidance to HR Business Partners. The role will also include liaison with external consultants and providers where required.
**Accountabilities & Responsibilities**:
**Policy development and implementation**
- Project Manage the reward and benefits review with an aim to create seamless integration with the new HR system and where appropriate, actively gaining buy-in from stakeholders during the review.
- Support in identification of opportunities to automate Reward operations activities outside the new HR system - work towards automation and integration of these activities with the new HR system.
**HR Transformation Project Contribution**
- Draft reward and benefit-related as-is processes as agreed with key stakeholders.
- Help Identify opportunities to simplify and automate.
- Contribute to the completion of configuration workbooks for the implementation partner in all relevant functional areas.
- Contribute to articulation of future detailed processes at L4, L5 and work note level.
- Co-ordinate with other HR SMEs and project stakeholders as required to socialise and secure approval of all functional design artefacts.
- Along with respective team create testing scenarios for both SIT and UAT
- Conduct testing.
- Support the change workstreams with an accurate ‘Fit Gap’ for global design versus local requirements and current ways of working.
- Facilitate C&E for Reward areas along with Benefits and Compensation team.
- Management and ownership of ad hoc projects to develop specialist solutions in the area of reward and benefits.
- Support in development of bank wide communications for staff regarding changes to policies and processes as they are implemented.
**Provision of expertise to the Bank**
- Serve as the primary source of expert advice on their specialist field for HR Business Partners and their clients to enable them to make decisions, interpret policies, resolve complex issues as they arise.
- Designing communication to staff on the Bank’s reward philosophy, policies and processes via a number of different channels, including the design and provision of training, information and education sessions to staff and HR colleagues.
- Build and maintain a network of professional relationships designed to tap into and develop the best policies and plans for the Bank.
**Reward Specialist specific: ongoing management of reward processes**
- Support the Principal in producing analytics to be used for completion of papers to various Board and Executive Committees and Staff Council.
- Other responsibilities may include supporting colleagues in other teams, ensuring the Staff Handbook is maintained in terms of reward policies, and participating in external seminars and conferences.
- Updating of the IT system tool with referrence to reward and benefit changes as part of review and the Total Reward Statements (if needed). Carry out user acceptance testing on behalf of HR or business stakeholders when necessary.
- Conducting the internal controls framework (ICF) testing for the Reward and Benefits team.
- From understanding of the data, the role holder will be expected to offer additional insights into trends for stakeholders: Use data and information to provide insights into people issues and guide improved, evidence-based decision-making and fix problems at the root cause.
**Drive continuous improvement**
- Proactively identify gaps in the current HROD reporting platforms and highlight possible solutions.
- Support team members to improve their data analytics capability, understanding of appropriate use of data and storytelling.
This job description is not limited to the responsibilities listed and the incumbent may be requested to perform other relevant duties as required by business needs.
**Knowledge, Skills, Experience & Qualifications**
- Degree in a relevant discipline o
