Director of Reward

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Waystone leads the way in specialist services for the asset management industry.

Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years' experience and a comprehensive range of specialist services to its name, Waystone is now serving assets under management in excess of $2Tn. Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.

The Director of Reward is responsible for developing and overseeing the organization's compensation and benefits strategies to ensure they attract, retain, and motivate employees. They play a crucial role in ensuring that the organization's compensation and benefits programs are competitive, compliant, and aligned with the overall business strategy.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Compensation Strategy

• Develop and implement a comprehensive compensation strategy that aligns with the organization's goals and budget.
• Conduct market analyses to ensure competitive pay structures.

• Design and manage salary bands and pay scales for various roles within the organization.

Benefits Management:

• Oversee the development and administration of employee benefits programs, including health insurance, retirement plans, and other perks.
• Evaluate and negotiate with benefits providers to ensure cost-effective and competitive plans.
• Monitor trends in employee benefits and recommend enhancements or new programs.

Incentive Programs:

• Design and implement short-term and long-term incentive programs, such as bonuses, stock options, and performance-based rewards.
• Ensure incentive programs are aligned with business objectives and performance metrics.
• Communicate and promote incentive programs to employees.

Compliance:

• Ensure all compensation and benefits programs comply with local regulations.
• Stay updated on legislative changes that affect compensation and benefits practices.
• Prepare and submit required reports to regulatory bodies as required.

Performance Management:

• Develop and manage the organization's performance management system, linking performance to compensation.
• Develop and communicate the performance management processes and best practices with internal and external stakeholders.
• Analyse performance data to inform compensation decisions and identify areas for improvement.

Budget Management:

• Develop and manage the budget for the compensation and benefits programs.
• Monitor costs to ensure they remain within budget and provide value for money.
• Provide financial reports and forecasts related to compensation and benefits.

Employee Communication and Education:

• Communicate compensation and benefits programs to employees clearly and effectively.
• Develop educational materials and conduct sessions to help employees understand their compensation and benefits.
• Address employee inquiries and concerns about compensation and benefits.

Data Analysis and Reporting:

• Analyse compensation and benefits data to identify trends and make data-driven decisions.
• Prepare regular reports on compensation and benefits metrics for senior leadership.
• Use data to recommend adjustments to compensation and benefits strategies.

Leadership and Team Management:

• Build out and manage the reward team, providing guidance, mentoring, and performance feedback.
• Foster a collaborative and high-performing team environment.

Executive Compensation:

• Develop and manage executive compensation plans, including base salary, bonuses, equity awards, and other incentives.
• Work with the board of directors and executive team to design compensation packages that attract and retain top leadership talent.
• Ensure executive compensation aligns with shareholder interests and company performance.

Vendor Management:

• Manage relationships with compensation and benefits vendors, ensuring high-quality service and cost-effectiveness.
• Evaluate vendor performance and negotiate contracts and agreements.
• Stay informed about new products and services that could enhance the organization's reward programs.

Strategic Initiatives:

• Participate in strategic planning sessions to ensure the reward strategy supports overall business objectives.
• Lead or support initiatives related to organizational change, such as mergers and acquisitions.
• Provide strategic insights and recommendations to senior leadership based on reward program performance and industry trends.

REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Skills and Experience:

• Minimum of 10-15 years of progressive experience in human resources, with at least 5-7 years specifically focused on compensation and benefits.
• Significant experience in designing and managing executive compensation programs.
• Proven experience in leading global compensation and benefits projects or initiatives.
• Ability to develop and implement long-term compensation and benefits strategies that align with organizational goals.
• Strong analytical and quantitative skills to assess compensation data, conduct market analysis, and make data-driven decisions.
• Excellent verbal and written communication skills for presenting complex information to executives, managers, and employees.
• Skilled in negotiating with vendors, benefits providers, and internal stakeholders.
• Deep understanding of relevant laws and regulations related to compensation and benefits.
• Experience in leading change management initiatives, particularly related to compensation and benefits programs.
• Proficiency in HRIS and compensation management tools.
• Proven ability to manage multiple projects and meet deadlines.
• Experience with change management and employee integration.
• Experience working in a global organization.

Education:

• Master's degree in Human Resources, Business Administration, or a related field.