Senior Manager, Total Rewards & Benefits

Lloyds Banking Group•New York, NY

21h

About The Position

Lloyds Overview: Lloyds Bank Corporate Markets, plc (“LBCM”) forms an integral part of Lloyds Banking Group, a UK-focused retail and commercial bank with more than 30 million customers globally. We have been operating in North America for over 100 years, providing a client-focused approach for global businesses with strong links to the UK. Our New York operations provides a gateway between the UK and North America for financial institutions and large corporate clients, offering core banking products such as lending, trade finance and a range of debt capital and financial markets services through our US broker dealer, Lloyds Securities Inc. Lloyds Bank is committed to attracting, retaining and developing the best talent in the industry and embracing the diversity of our people. We offer our colleagues ongoing training, development, mentoring and networking opportunities, as well as competitive benefits and vacation leave. We are dedicated to working with our community and offer a range of volunteering and fundraising activities throughout the year. Diversity and inclusion are a part of who we are at Lloyds Bank. Lloyds North America strives to create a culture where every individual feels included, and empowered to be their best. Providing equal employment opportunities to all applicants and employees without regard to race, color, religion, creed, gender, gender identity or expression, age, national origin or ancestry, citizenship, disability, sexual orientation, marital status, pregnancy, veteran status, membership in the uniformed services, genetic information, or any other class protected by applicable law. Lloyds values diversity in all backgrounds and experiences and wants their employees to bring their “whole self” to work! Reasonable Accommodations for Qualified Individuals with Disabilities During the Application ProcessLloyds North America is committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you have a disability and require a reasonable accommodation in order to participate in the application process, please contact our Human Resources Dept at: [email protected]

Requirements

Minimum of 5-7 years experience as a Compensation and Benefits Specialist or similar role, with expertise in US compensation and benefits practices.
Banking or financial institution experience, preferred
Relevant certifications in compensation and benefits, a plus
Bachelor’s degree required
Strong experience in HR Operations covering Payroll, Benefits and Pension Governance
In-depth knowledge of US employment laws, regulations, and tax requirements related to compensation and benefits.
Strong understanding of compensation practices, including salary benchmarking, job evaluation, and pay structure design.
Experience in managing employee benefits programs, including pension schemes, healthcare plans, voluntary benefits and payroll.
Proven ability to partner with Finance, vendors, HR colleagues and senior business leaders
Proficiency in using compensation and benefits survey data and analytical tools.
Excellent analytical and problem-solving skills, with the ability to interpret and analyze complex compensation and benefits data.
Strong attention to detail and accuracy in managing compensation and benefits processes.
Excellent communication and strong interpersonal skills to effectively collaborate with stakeholders at all levels.
Strong project management skills to manage multiple tasks, priorities, and deadlines.
Proficient in using MS Office applications, particularly Excel, for data analysis and reporting.
Understanding of HRIS systems and their integration with compensation and benefits processes.
Continuous learning mindset to stay updated with changes in compensation and benefits practices, laws, and regulations.
Proven ability to work well in a fast-paced, team environment
Managing Internal and External Relationships
Initiative and sound judgment

Nice To Haves

Banking or financial institution experience, preferred
Relevant certifications in compensation and benefits, a plus

Responsibilities

Effectively leads and manages the Reward function across all areas, including management of Payroll, Compensation Planning, Benefits and Pensions. Liaising closely with counterparts across the Group and external providers / consultants to obtain/ exchange information, identify and implement best practices.
Provide technical support and interpretation of legal, regulatory, and statutory requirements of all aspects of Pay and Reward to Senior Management.
Identify and use HR management information to help the business make informed decisions, by undertaking analysis in order to identify issues and recommend solutions.
Provide coaching and counsel to employees at all levels on Total Reward.
Ensure process flows are developed and maintained.
Deliver professional/specialist expertise and input into the development and implementation of the Reward Policy and delivery.
Contribute to the development of medium-term operational plans and implement plans specific to supported business areas.
Influence, develop and motivate colleagues, creating a high performing team that will deliver business objectives.
Lead, develop and implement processes to deliver Group policy aligned to own area.
Engage with stakeholders, providing guidance, advice and challenge in order to support the delivery of LBG values and behaviors.
Develop a network of colleagues and external advisers, keeping abreast of benchmark practice in order to influence policy and local strategy development.
Identify and facilitate Pay and Reward policies and approaches
Direct Pay and Reward team to achieve behavioral change and continuous improvement.
Specify content for materials which facilitate the effective communication and implementation of HR policy.
Review and evaluate all decisions to identify and ensure all risks (financial, people, regulatory and operational) are managed and mitigated effectively.
Provide guidance on the Group Pay, Group Remuneration Governance Policy and the relationship between risk, performance and pay and reward, and identifies various remuneration risks and the principles of malus.
Provide guidance on pay policies and procedures, including equal pay principles.
Interprets external salary benchmarking data and input to salary survey submissions.
Understands how LBG's Pay and Reward principles and practices compare with external practices and structures. Has detailed understanding of bonus policies and procedures, including deferral and understands the link between performance and reward.
Demonstrates knowledge of competitor activity, industry best practice, tax treatment for pay, bonus, share plans, pensions, benefits and how the total reward offering engages and motivates colleagues.
Set agenda for Pension Committee meetings, prepare minutes, and follow up on all decisions made.
Liaise and obtain approval from UK Group Pensions UK on all pensions matters, proposals, projects, etc.
Proficient usage of HR and Reward systems, with a good understanding of the data requirements. Use and manipulate spreadsheets, produce formatted charts and advanced formulae and pivot tables to support role.
Identify and use HR management information to help the business make informed decisions, by undertaking analysis in order to identify issues and recommend solutions.
Develop and maintain effective relationships with business areas including the exchange of information in order to identify current and future HR related requirements.
Contribute towards the overall Human Resources strategy plan and periodic plan reviews ensuring these are consistent with business requirements and Bank policy.
Develop and continue to grow close working relationships with HR counterparts across the Group on an international basis.
Meet Internal & External Audit requirements
Responsible for knowing, understanding, and complying with all Bank and governmental rules and regulations that apply to his/her job (details of such rules and regulations can be obtained from the employee's supervisor and/or Local Compliance Dept).
Responsible for reporting to the Chief Risk Officer or to the Head of Compliance any non-compliance with Lloyds Banking Group or governmental rules or regulations that may come to the employee's attention in the course of his/her employment