Job title - Performance and Reward Specialist
Location - London
Start date - ASAP
Pay Rate - £522.50 PAYE or £670 Umbrella
Contract - 9 Months
A new opportunity has arisen for an experienced & enthusiastic Reward specialist to join HSBC's Global Performance & Reward team in London to support the ongoing implementation of Carried Interest.
The incumbent will work as part of a small subset of the wider Performance & Reward team and work closely with the aligned HR Business Partner for Asset Management. Key stakeholders will include leaders from the Asset Management business.
Key Job Responsibilities:
As the subject matter expert, you will:
- Manage existing carried interest arrangements (true & synthetic) including plan structure/rules, co-investment, plan documents & communications, governance & approvals (across all locations).
- Develop and maintain key processes and controls, establishing ownership and compliance at each stage, to ensure the smooth implementation and ongoing operation of Carried Interest. You will also ensure that these processes are integrated with other Reward processes and policies where appropriate.
- Build & maintain the tracking system (and associated documentation) of all carry allocations, distributions;
- Maintain plan records including key milestone activity and participation data and the issue and review/maintenance of plan documentation. This may include proposing third-party specialist carried interest platform providers to work with.
- Manage the relationship with any third-party administrators relating to Carried Interest.
- Support the preparation of reports & audits including managing leavers, transfers & new joiner processes;
- Provide support in the preparation of offer packages for new hires and act as the main point of contact for all staff participant & business queries/training in relation to Carried Interest.
- Play a key role in identifying and implementing technological solutions and communication strategy for Carried Interest.
- Prepare supporting materials and analysis for the Carried Interest Committee and draft papers to the Remuneration Committee on Carried Interest as required.
- Monitor peer remuneration arrangements, market benchmarking and provide advice and guidance through use of data analysis, modelling and interpretation in relation to Carried Interest;
- Working with internal legal and tax experts you will ensure that legal, tax and regulatory requirements are met and that plan documentation is fit for purpose
- Provide strategic advice and guidance including year-end remuneration processes, business hiring and corporate restructures/acquisitions involving Carried Interest;
- Serve as primary point of contact and subject matter expert for senior management on enquiries, issues, and escalations regarding Carried Interest and employee investments
To be successful in this role you will enjoy working in a business facing advisory role. This is a complex rewards environment which we believe would suit you best if you enjoy the legal and tax side of compensation design.
You will have experience in the creation and management of carried interest plans, both true and synthetic, including familiarity with plan documentation, governance and finance requirements as well as grant and maturity processes. This experience could have been gained directly with an Asset Manager or similar, or via a law firm or consultancy.
You will understand how business strategy can be supported through the implementation and management of effective carried interest arrangements.
You will have a high level of attention to detail, accuracy and a strong interest in working with numerical data coupled with the ability to analyse and interpret data to inform decision making. You will maintain thorough, up-to-date knowledge of leading-edge reward practices in Asset Management, including Private Markets, Real Assets and Venture Capital. Absolute discretion is required.
Strong communication, presentation and influencing skills are crucial, alongside excellent organisational skills and the ability to multi-task. You will have demonstrable problem-solving skills, along with a creative, solutions focused and commercial approach whilst maintaining high standards of client service. In addition, you will also have the confidence to think differently and be open to learning in a fast paced and changing environment.
Prior experience of remuneration regulation within the financial services sector, experience with UK and European remuneration regulation developments would be advantageous.