Reward Analyst

2 weeks ago

London, United Kingdom Hays Specialist Recruitment Limited Full time

Reward Analyst - Multinational insurance - Permanent - London - Hybrid
**Your new company**
A world-leading provider of consulting and technology solutions to the insurance industry. A high growth company that is highly regarded in insurance, employing some of the industry's most talented professionals and technical experts. The company works acrossevery stage of the insurance lifecycle and across all major commercial insurance lines. They serve an extensive blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, and syndicates, aswell as brokers and distributors.
The firm is private equity backed, following a large investment in 2020.
**Your new role**
As Reward Analyst you will work collaboratively with the Head of Reward, who will provide guidance and support within the operating framework. This is a challenging and exciting role working in a global business, operating in 35 countries, which is undergoingcontinual expansion and change. You will be supporting the development of the Reward Function which covers the whole group (Global). The Reward Analyst is expected to provide ideas and process improvements to support and improve customer service. This roleis a great opportunity to develop and broaden skills and knowledge across the Reward portfolio.
**What you'll need to succeed**:

- Provide expert Reward advice to Managers and members of the HR team, particularly in relation to the Reward planning cycle, new hires and Reward related queries.
- Carry out and review job matching in conjunction with Business Units (BUs) where appropriate, supply data to salary surveys, analyse survey output in relation to Reward Strategy, and help to create structure for the internal reward framework.
- Provide ad hoc benchmarking for existing and new roles within the business.
- Support the Reward Review cycle. We are currently reviewing our reward process with the aim of making it more automated. However, our current process includes:

- Data gathering and validation from various sources and engaging with Payroll to ensure complete alignment between HR and payroll data
- Creation of BUs Reward Review spreadsheets for salary review and bonus recommendations
- Manage the secure distribution of files via SharePoint including giving/removing access to relevant parties during the process
- Creation of management reports for BUs and the Group
- Production of documentation at the end of the process
- Preparation of data file to send to Payroll to instruct payments to be initiated
- Preparation of salary and bonus data to be uploaded to the HR system at the end of the process
- Bonus Plan modelling for multiple schemes in multiple BUs, iterate the models until sign-off.
- Administration of deferred cash plans - liaising with external provider to provide updates of leavers, ensure accurate data is held on the deferred cash system and process payments as necessary.
- Provide data and analysis for best practice/future legislation reviews e.g. gender pay gap reporting.
- Continually look for ways to improve existing reward processes and increase automation of these processes.
- Partner with the HR and IT teams to enhance the Reward functionality of the HR System.

**What you'll get in return**:

- A highly competitive salary and benefits package
- A positive work environment where people are empowered to make the best decisions and where learning is valued highly and shared across our business
- Continuous learning and development
- Study support for relevant professional qualifications
- A fun and inclusive place to work
- Quiz nights, tennis tournaments, football matches and a range of other social events
- Hybrid working - 1 day in office p/w

If this job isn't quite right for you but you are looking for a new position, please contact us for a confidential discussion on your career.

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