Associate, Reward & Benefits

The Associate, Reward Benefits role is responsible for supporting the management and development of the Bank’s retirement plan benefits, ensuring they are market competitive and professionally managed. The role provides expert advice to senior management and HR partners, manages policy development, and oversees the delivery and communication of benefits to staff.

Responsibilities

• Provide input to the development and communication of the Bank’s reward strategy and compensation policies.
• Monitor and review retirement plan benefits including benchmarking with comparator organisations.
• Support development and communication of policy changes and new policies related to retirement plans.
• Assist in development of annual compensation proposals to the Board and Executive Committee.
• Lead specific parts of annual reward and benefits proposals to improve policies.
• Manage specific reward projects to develop specialist solutions.
• Maintain up to date understanding of best practices and market trends related to benefits, focusing on retirement plans.
• Provide information and training to staff and HR teams regarding benefits policies and processes.
• Deputise for Principal, HR Reward as required to provide retirement plan expertise and support.
• Serve as internal consultant to HR Business Partners and clients on reward advice and policy interpretation.
• Analyse reward and benefits policies in relation to comparator groups and participate in surveys and external consultancy.
• Manage retirement plans annual cycle tasks such as benefit statements, audit, actuarial valuation, and US Waiver exercise.
• Support management of internal retirement plan committees including meeting arrangements and documentation.
• Manage relationships with external providers to ensure efficient benefit provision and accurate invoicing.
• Assist with contract extension and retender exercises for external providers.
• Respond to queries from staff, former staff, HR teams, and external providers.
• Manage benefit settlement processes for deaths, divorces, and transfers.
• Manage staff engagement framework with outsourced suppliers including financial wellness sessions.
• Conduct internal controls framework testing related to benefits.
• Participate in ad hoc tasks and projects as required.
• Maintain and enhance retirement plan knowledge base articles and Staff Guide intranet pages.
• Work with Employee Relations and Legal teams to maintain Staff Handbook reward policies.
• Ensure retirement plan records are maintained and appropriately stored.

Requirements

• Relevant degree, or equivalent experience.
• PMI (or equivalent) qualification preferred.
• Significant breadth of relevant experience in all aspects of retirement plan management and consultancy.
• Excellent knowledge of retirement plan practices.
• Experience of developing, implementing and communicating policy changes.
• Demonstrated experience of drafting retirement plan communication materials for staff and providing training sessions.
• Trustee/retirement plan committee secretarial support experience would be an advantage.
• Experience operating in HR systems transformation environment would be an added advantage.
• Excellent interpersonal and relationship management skills, with a consulting mentality, and the ability to coordinate and integrate ideas and solutions across teams.
• Numerate and computer literate.
• Excellent communication skills (verbal and written), fluent in English language, with the ability to convey complex information in a simple and engaging way.
• Effective analytical and problem solving skills.
• Ability to manage conflicting priorities, within tight deadlines, prioritising work effectively.
• Ability to work autonomously and exercise sound judgement.

Skills

• Retirement Plan Management
• Retirement Plan Consultancy
• Retirement Plan Practices
• Policy Development
• Policy Implementation
• Policy Communications
• Training Delivery
• Communication Materials Drafting
• Trustee Support
• Retirement Committee Support
• HR Systems Transformation
• Interpersonal Skills
• Relationship Management
• Consulting Mentality
• Numeracy
• Computer Literacy
• Verbal Communication
• Written Communication
• Analytical Skills
• Problem Solving
• Prioritization
• Autonomous Work
• Judgement

Languages

English