Head of Compensation & Benefits

Responsibilities:

Strategic Compensation

1. Partner closely with the Head of Human Capital to align firm wide strategies, programs and initiatives across the C&B function
2. Capture and manage total compensation data and compensation commitments
3. Review salaries in a structured and consistent manner as and when required (i.e., done on an ad-hoc basis). Consider market factors, previous increase and business and individual performance factors (in conjunction with HR Business Partners)
4. Participate in salary surveys as required including job matching, data collection and reporting and interpretation of results for business use
5. Document and control budget allocations
6. Liaise with and advise the Management team and HR team on all strategic compensation matters
7. Prepare regular and bespoke management reporting and analysis as required
8. Manage the annual bonus process including deferrals. Ensure all deferral data is properly informed to local administrators for processing payments
9. Robust collection and recording of bonus recommendations/suggestions/allocations to maintain full proof audit trail of all changes and revisions across all countries and business areas
10. Prepare systems (if any) procedures and training / guidance materials for each bonus process
11. Provide prompt, up to date and accurate total compensation data, bonus status and information for top management review and decision making
12. Oversee the production of bonus letters across all countries and business areas
13. Bonus reconciliation of actual to budget
14. Provide reporting and answer questions on general ledger booking on bonus
15. Monitoring compensation commitments and ensuring local administrators are properly informed on all bonus/ deferred bonus payments for accurate and timely processing
16. Ensure total compensation and finalized bonus figures are correctly reflected in Workday
17. Capture and document agreements made by the relevant Remuneration Committee
18. Manage secondees annual exchange rate review to take into consideration of fluctuations in the market
19. Manage annual budget process in the preparation of company rate cards and department headcount & budget projections.

Benefits

1. Plan and develop benefits programs by seeking out market data regarding benefits offered Group-wide, analyze data and make cost effective recommendations where necessary
2. Regularly review company’s competitive position from a strategic benefit perspective and undertake reviews to ensure that we revise (maintain/enhance/reduce) as required. Propose revisions as required
3. Oversee the insurance renewals to ensure consistent benefit practices and arrangements and best possible value propositions are being deployed across the region
4. Review the benefit items across the region to ensure the consistency within the group
5. Ensure the Investment Committee meeting is held on a regular basis to review pension strategy and scheme performance.
6. Monitor the Employee Voluntary contribution deducted from bonus/ deferred bonus.

Payroll & Servicing

1. Oversee the Payroll & Servicing team to deliver the full spectrum of operational tasks including the HK payroll to ensure accuracy and timeliness of payroll processing
2. Support the implementation of the global payroll vendor across various CITIC CLSA offices
3. Provide sign-off on leaver final payment and related separation documents.

Ad-hoc

1. Preparation of regular reports and ad hoc reports per HQ requests.
2. Other Compensation and Benefits projects as necessary from time to time
3. Contributing to and managing (as appropriate) other HR related ad-hoc projects and Group wide HR initiatives

Leadership

1. Actively manage team members, including monitoring performance, and providing guidance, coaching, training, and mentoring
2. Undertaking regular appraisal and review processes for direct reports ensuring that quality feedback is provided regularly to align staff performance in accordance with personal objectives and overall business strategy
3. Providing general leadership and guidance to the wider HR team

Requirements:

1. At least 12 years experience as a compensation & benefit specialist, with at least 3 years in a senior / strategic leadership role
2. Payroll experience would be advantageous
3. Extensive regional compensation & benefit knowledge and experience essential
4. Experience managing and utilising salary surveys (e.g. McLagan)
5. Degree qualified, ideally HR and / or finance related. Highly developed organizational skills and exceptional attention to detail
6. Highly developed and demonstrated analytical and problem solving skills
7. Advanced computer skills, particularly in Word, Excel, PowerPoint, and good knowledge and experience in database management
8. Independent and able to work well under pressure with good judgment and strong risk sense
9. Ability to multitask, completing numerous tasks for different people simultaneously
10. Excellent communication, interpersonal and presentation skills with diverse audiences
11. Client focused and team based approach to work
12. High proficiency in report writing in Chinese and English.
13. Must be a proactive self-starter, with the ability to meet deadlines
14. Fluent written and spoken English and Cantonese and Mandarin