Compensation and Benefits Consultant (m/f)
The Compensation and Benefits Consultant is based in Luxembourg and reports to the Regional Head of Compensation EMEA, based in London. This role will have primary responsibility for the development, communication, and administration of compensation and benefits programs for the company's operations across Continental Europe (CE) - Countries include Luxembourg, Switzerland, Sweden, Netherlands and Germany.
The key responsibilities of the role include:
COMPENSATION PRINCIPAL RESPONSIBILITIES
- Partners with HR Country Manager, HR Consultants, Business Managers, and Finance to address internal salary management, market data, salary policy, job structure, incentive target setting and compensation guidelines.
- Analyzes local market data to determine appropriate pay levels for new offers, pay adjustments and internal equity reviews.
- Develop manager and employee communications to facilitate the understanding of compensation philosophy and processes.
- Keeping abreast of and ensuring compliance with jurisdictional legislative requirements such as ABBL in Luxembourg and submission of required legislative and regulatory reporting for CE locations.
- Works on special projects as needed including M&A projects. Represents specific local area requirements on global compensation projects to ensure compatibility and compliance.
- Monitor regulatory requirements established by the CSSF and EBA and ensure that the Company's compensation philosophy and practices are in line with regulatory requirements in CE locations.
- Support compensation governance, including effective running of the local Compensation Committee.
BENEFITS PRINCIPAL RESPONSIBILITIES:
- Analyse local markets to determine mandatory/statutory requirements, market benefit levels and market trends.
- Serve as an expert resource or "go to person" for general pension and benefits queries related to Continental Europe locations.
- With oversight and input from the Snr Benefits Consultant EMEA,
- Ensure company's Benefit Plans comply with local mandatory/statutory requirements
- Conduct Benefit Plan and Policy reviews and make recommendations to the Regional Head of Benefits EMEA.
- Design end to end benefit delivery to improve practices and procedures
- Manage outsourced vendors in accordance with corporate vendor management policies and resolve escalated issues
- Produce communications and materials for meetings with representative bodies
- Undertake Benefit Budgeting and forecasting and cost allocation.
THE PROFILE :
The successful candidate will benefit from having:
- At least 5 years of experience in a similar role ideally in the financial sector
- An excellent level of English, French as a plus
- Knowledge of Continental Europe Compensation and benefits practices
- Understanding of elements of compensation, including long-term incentives
- Sound project management skills
- Experience with senior management level presentations (preparation and delivery)
- Experience of working in matrix structure such as global teams
- Risk Management awareness
- Advanced level Excel skills
- Strong analytical skills
- Strong research and interpretation skills
The competencies that would be valuable for this role include:
- Knowledge of the broader EMEA regulatory environment relating to remuneration
- Ability to interpret and apply regulatory legislation to applicable Compensation policies and procedures
- Ability to interpret and apply legislative changes to Benefit policies and plans
- Consulting and client servicing skills, ability to influence senior management
- Excellent oral and written communication skills and strong judgement
- Ability to synthesise data/complex messages
THE CLIENT :
Our client is a large international bank based in Luxembourg.
At the final stages of the recruitment process, some of our clients ask the successful candidate to provide supporting documentation such as, for example, copies of diplomas or proof of previous jobs, and a standard criminal record check might also be requested.