Regulatory Compensation, Senior Consultant Regulatory Compensation, Senior Consultant …

Northern Trust
in London, England, United Kingdom
Permanent, Full time
Last application, 17 Feb 20
Northern Trust
in London, England, United Kingdom
Permanent, Full time
Last application, 17 Feb 20
Northern Trust
Regulatory Compensation, Senior Consultant

The Senior Consultant, Regulatory Compensation for EMEA is based in Canary Wharf, London and reports to the Head of Compensation and Regulatory Reward EMEA, also based in London. The EMEA regional compensation team is responsible for the management and implementation of compensation programmes and compensation regulatory compliance across the UK, Ireland, Luxembourg, the Netherlands, Guernsey, Sweden, Switzerland and Middle East.

With oversight from the Head of Compensation EMEA and working closely with other HR and Risk and Compliance partners, the Senior Consultant, Regulatory Compensation is responsible for coordinating compliance efforts for all UK and EMEA remuneration regulations applicable in the relevant EMEA jurisdictions.


• Keep abreast of changes to regulatory legislation impacting compensation practices in EMEA, developing/maintaining strong external relationships with relevant consultants, industry groups, and peer networks.
• Responsible for preparing and submitting all required country specific and / regulatory disclosures under CRD IV, UCITS V e.g. UK RPS, EBA High Earners, benchmarking filings, Pillar 3 etc.
• Responsible for identifying quantitative Material Risk Taker ("MRT") roles under CRD IV and Identified Staff under UCITS V. This includes annual fixed pay analysis which also forms the basis for the regulatory disclosures.
• Responsible for management of the annual compensation cycle for EMEA MRTs and Identified Staff. This includes application of the regulatory remuneration requirements in an excel tool and working with Compensation Operations team to implement appropriately.
• Annual review and approval of the Total Compensation Policies and various remuneration guidelines.
• With oversight and input from the Head of Compensation EMEA:
- Monitor and adapt to regulatory requirements established by the European Banking Authority, US Federal Reserve Bank, EU Commission and as adopted by the Country regulators e.g. Prudential Regulation Authority, Financial Conduct Authority, CSSF etc.
- Ensure Northern's compensation philosophy and practices are in line with regulatory requirements in all EMEA locations and be able to recommend changes to remuneration programs or practices in response to current and future regulations;
- Manage the implementation of compensation regulations in EMEA in partnership with Risk & Compliance teams, HR colleagues, and the business units;
- Develop and deliver employee communications to facilitate the understanding of remuneration regulatory requirements for relevant employees and their managers;
- Prepare materials for the EMEA remuneration governance groups such as local/regional and global Compensation Committees;
Draft responses to queries from the regulators in conjunction with relevant stakeholders
• Maintain regulatory specific clauses in the EMEA contracts in conjunction with Employee Relations and support HR Consulting Function and Talent Acquisition on offers for EMEA Regulated Roles;
• Lead Compensation Consulting for a business unit / corporate function and will have the primary responsibility for the development, communication, and administration of compensation programs for that group (such as market data participation and analysis, providing guidance to EMEA HR on salary and incentive proposals, oversee the administration of the Annual Review Cycle etc.)
• May lead compensation workstream for certain M&A projects and contribute to other strategic compensation projects.
The successful candidate will benefit from having:

• Significant knowledge of UK and broader EMEA regulatory environment relating to remuneration
• Ability to interpret and apply regulatory legislation to applicable Compensation policies and procedures
• Understanding of all elements of compensation, including long-term incentive design
• Sound project management skills
• Experience with executive level presentations (preparation and delivery)
• Experience with 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:

• 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 for executive understanding and consumption
• Ability to drive results through influencing and partnerships as opposed to direct control over decisions and resources

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Working with Us:

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and ethical companies. Build your career with us and apply today.