Compensation Analyst Compensation Analyst …

Canada Life Limited
in Potters Bar, England, United Kingdom
Permanent, Full time
Be the first to apply
Canada Life Limited
in Potters Bar, England, United Kingdom
Permanent, Full time
Be the first to apply
Compensation Analyst
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.
Job Purpose
This role is the subject matter expert lead on applying the Willis Towers Watson methodology within Canada Life. The job holder maintains the WTW Global Grading System and is required to analyse and interpret data reports generated from the system, to ensure our evaluation processes are fit for purpose. The role holder supports and guides line managers on job description completion, as well as explaining the benchmarking outputs to all levels of management.

The role holder is also responsible for assisting with data analysis and reporting required by the reward team. This includes analysis and reporting in support of the annual salary review process, the external data submission process for our compensation data providers, production of regular benefits reporting such as the pension contribution report and starters/leavers benefit reporting as well as the gender pay analysis requirements and equal pay audits in support of our Diversity and inclusion agenda. The role also supports global mobility and is responsible for reporting and managing the global mobility tracking processes for the UK (e.g., Short term business visitors, international movements etc)

Key Accountabilities
- Lead and prepare all job evaluations using the Willis Towers Watson Online Global Grading System, ensuring it is always correct and up to date and that the reporting capability from the system is maximized. Prepare content and/or discussion documents from the Global Grading System for CCF board and other senior level audiences
- Support the Compensation & Mobility Partner in the analytical requirements for the annual review cycle which is managed on Success Factors. Support on UAT testing and enhancement of the Compensation and Variable pay module.
- Own the people impacts spreadsheet, tracker, role profile list spreadsheet and future state target operating model (FSTOM) dashboard. Manages the MI and data reporting for all FSTOM activities in conjunction with the HOPs, PRPs and recruitment partners. Ensures that the reporting requirements are included for new initiatives and develops MI and reporting on a continuous basis as required, to maximise insight and effectiveness. Ensures that appropriate reporting for monitoring FSTOM activities and data on daily, weekly, and monthly basis
- Support the Compensation & Mobility partner in ensuring high quality market analysis based on valid benchmark material is available to support project and BAU cash compensation processes to ensure a competitive overall market position for the company. Explain benchmarking outputs to all levels of management with justification for evaluation and interpretation of the data within Willis Towers Watson, XpertHR, McLagan and Polymetrix survey data. Develop reporting capability and enable the dissemination of information in an easily understandable and actionable manner.
- Provide comprehensive analytical support to key reward initiatives including annual salary survey submission, market trends benchmarking, Gender & Ethnicity reporting, functional remuneration and incentive schemes benefit programs and reward policy and processes.
- Act as a technical expert on job description completion to support and guide People Leaders on the creation of JDs. Close collaboration and communication with all levels of management and internal stakeholders, to ensure maximum business effectiveness is derived from the creating of new position descriptions.
- Own the Canada Life UK Global Mobility tracker, overseeing the updating of the tracker and the tracking and reporting of short-term business visitor reporting requirements to HMRC within a timely manner
- Provide day to day support to the Compensation & Mobility Partner and assist with various administrative tasks, as well as any adhoc Reward projects as required across the broader business.

Desired Knowledge / Experience / Skills
• Experience working in a specialist compensation role as a subject matter expert within a centre of excellence HR model is essential
• Understanding and experience of the Willis Towers Watson job evaluation methodology, with the knowledge and capability to use and report from the Global Grading System (GGS).
• Experience in job matching using multiple surveys such as Willis Towers Watson, XpertHR, McLagan & Polymetrix.
• Strong analytical and numerical skills
• Intermediate to Advanced user of Microsoft Office - Excel, PowerPoint, and Word
• Ability to manage and interpret large sets of data
• Previous experience using SAP Success Factors
• Able to draw on strong emotional intelligence to enable an effective and positive partnering approach with colleagues and stakeholders
• Ability to work within a virtual team with colleagues and stakeholders spread across multiple locations
• Strong delivery and customer focus
• Proactive and self-reliant
• Communicates clearly and effectively across all levels of management
• Knowledge of the financial services' regulatory environment in connection with SMCR
• Bachelor's degree or relevant experience in an HR specialist topic. (Desirable)
• Membership status of the CIPD (Desirable)
• Completion of or aiming to complete Reward Management Certificate (Desirable

What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.

Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences

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