Head of Reward

Network HR has been retained by an established Insurance business to support with the appointment of an experienced Reward Leader, to own and develop the reward policies across the group. Working closely with the Chief People Officer and Senior leaders to scope, design and implement the Reward strategy across the business. The successful Reward Manager will ensure that the reward plans and initiatives will align with the firm’s business strategy and meet regulatory requirements. The ideal candidate will have a solid background in Financial Services and will be able to evidence a track record of reward frameworks and design on a global scale.

The Head of Reward will be supported by a team of 6 in a growing and profitable business and will be accountable for developing a suite of best in class variable pay offerings to support the business growth agenda, developing an efficient methodology to integrate new acquisitions in to the organisations reward framework and developing a best in class benefit and pension offering and implement across the group.

Responsibilities will include:

• Lead, develop and own the reward framework and policies across the group
• Develop, as the SME, with the Platform HR Directors to develop their reward strategy within the reward framework
• Develop strategies to continue to enhance the reward framework not only reflecting the commercial direction of the Platforms but the broader diversity, inclusion, environmental, social and governance agenda the Group is pursuing
• Lead the remuneration committee for the company, liaising with the chairman, investors and non-executive directors
• Own the remuneration policy and the sales incentive business standard
• Manage a team of 6 reward, benefit and pension SMEs
• Own and develop the sales incentive and discretionary bonus plans across the platforms to align and deliver the platform strategy.
• Own and develop the grading and job family framework
• Implement transparent and effective salary banding
• Develop an automated benchmarking tool to support the recruitment and promotion processes.
• Lead the annual pay review cycle.
• Be the custodian of Reward processes and, with the Reward Operations Manager, automate and simplify processes as far as possible with the employee experience front of mind.
• Own and develop a best in class benefit and pension offering to include optimising the existing flexible benefit platform.

Specific experience:

• Outstanding reward experience, including knowledge of fixed and variable pay, reward frameworks and managing the annual cycle
• Proven track record of delivering stretching targets with drive and resilience
• Experience of working in a regulated environment
• Consultative, influencing and proactive approach – works in partnership with the business
• Ability to work in a culture and environment which is lean and results driven
• Ability to create an extensive and relevant external reward network that supports the needs of the business, including awareness and insight into emerging trends
• Outstanding motivational leader – able to take the team with them, encourage followership and build capability
• Ability to make pragmatic and commercial decisions to support the business strategy
• Ability to digest data and provide insightful and commercial analysis

In return, my client is offering full remote working and a competitive remuneration package! If this is something of interest and you have the relevant experience, then please apply or forward your CV to jenna.stocks@networkhr.co.uk