Head of Reward

Lloyds Banking Group; London; Hybrid; GBP 80,000 - 120,000; Full time

Job summary

Lloyds Banking Group is seeking a dynamic Head of Reward to drive their reward strategy across customer-facing business areas. This full-time role is integral to the Reward Leadership team, focusing on innovative practices and exceptional stakeholder engagement, aimed at attracting top talent and optimizing total rewards.

Benefits

Generous pension contribution of up to 15%

Annual performance-related bonus

Flexible benefits to adapt lifestyle

30 days holiday plus bank holidays

Wellbeing initiatives and generous parental leave policies

Qualifications

• Experience in reward partnering and strategy development is essential.
• Ability to transform complex needs into effective rewards strategy.
• Proven track record of working with diverse stakeholders.

Responsibilities

• Lead the development of a best-in-class reward strategy.
• Forge trusted relationships with senior executives to support the colleague reward life cycle.
• Oversee reward governance approvals and manage annual pay activities.

Skills

Analytical Skills

Stakeholder Management

Understanding of Reward Policies

Data Analysis

Relationship Building

Transformation Management

Education

Significant experience in reward management or related field

Job description

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End Date

Sunday 08 June 2025

Salary Range

£0 - £0

We support flexible working – click here for more information on flexible working options

Flexible Working Options

Hybrid Working, Job Share

Job Description Summary

JOB TITLE: Head of Reward

LOCATION(S): London, Edinburgh, Leeds or Bristol

HOURS: Full-time

WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.

Join us and be part of the UK's largest retail, digital, and mobile bank, serving over 30 million customers, working with an incredibly high performing reward team in our People & Places Function.

The Head of Reward will drive the development and execution of the reward strategy for customer-facing business areas at Lloyds Banking Group. Reporting to the Total Reward Director within the People & Places business area, this role is integral to the Reward Leadership team and requires building strong stakeholder relationships with partnered business areas.

The role will lead the implementation of a best-in-class reward strategy, leveraging deep insight into external trends, industry benchmarks and consumer business area needs now and in the future. They will serve as the lead subject matter expert on reward-related strategic initiatives, including reward governance approvals, pay and group performance share activity, Employee Value Proposition (EVP) and Group and business area change programmes. Using exceptional data capability and consumer knowledge, the role holder will develop flexible and innovative reward practices that enable the partnered business areas to achieve transformational change.

Job Description

Key Accountabilities

• Leverage deep insight of reward policies and practices to drive a best-in-class reward strategy for the partnered business areas, enabling the Group to attract and retain the skills needed to drive our objectives.
• Use end-to-end product mindset to develop flexible and innovative reward practices at pace, using expertise in consumer businesses, technology and data to support our transformation agenda.
• Deep understanding of partnered business area priorities, challenges and risks, balancing competing needs to tailor the reward strategy to have significant impact.
• Forge strong trusted relationships with respective Executive Committee member, People Director and People teams to support all aspects of the colleague reward life cycle including recruitment, retention, exits and organisational change.
• Proactively use benchmarking, modelling and external trend insights to facilitate bold and innovative data-led reward proposition development.
• Lead the annual pay and bonus activities for the partnered business areas, utilising Reward team to ensure smooth and effective delivery.
• Subject matter expert on reward-related strategic initiatives including Group and business area-led change programmes, such as TUPEs and divestments.
• Oversee reward governance approvals, including for Executives, ensuring the business area attracts the necessary skills and talent to deliver our strategy whilst adhering to our governance framework and regulatory requirements.
• Upskill and empower business area People Partnering teams and business area leaders on reward policies and processes, enabling self-service for colleague queries.
• Identify and mitigate risks, working with the leadership team to develop flexible responses to current and horizon reward-related challenges.
  
  

Key Capabilities, Knowledge, Skills And Experience

• Significant experience in reward partnering supporting key customer-facing and product populations.
• Expert technology and data capability, with background in crafting flexible, innovative reward practices that enable the partnered business to deliver transformational change.
• Ability to transform complex business needs into a clear, compelling reward strategy, empowering business areas to attract top talent whilst adhering to our governance and regulatory requirements.
• Proven ability to thrive in complex, diverse stakeholder environments; ability to engage senior leaders, balance competing demands, and influence leadership behaviours to drive key business decisions.
• Exceptional analytical skills, adept at synthesising data to shape reward decisions and strategy development, including critically challenging data.
• Demonstrated track record of understanding current social, economic, regulatory, and legal trends, including anticipating their influence on reward strategy and business impact in the future.
  
  

We also offer a wide-ranging benefits package, which includes:

• A generous pension contribution of up to 15%
• An annual performance-related bonus
• Share schemes including free shares
• Benefits you can adapt to your lifestyle, such as discounted shopping
• 30 days’ holiday, with bank holidays on top
• A range of wellbeing initiatives and generous parental leave policies
  
  

About Working For Us

Our focus is to ensure we’re inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We’re committed to creating a consciously inclusive workplace where our colleagues can be themselves, thrive and perform at their best. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.

As an inclusive employer, we offer Workplace Adjustments for colleagues with a disability (which may include long-term health and neurodivergent conditions) where it is reasonable to do so. This could include flexibility with regards to office attendance, location, and working pattern.

We are proud to be a Disability Confident Leader. If you have a disability, you can also apply via our Disability Confident Scheme (DCS). Through the DCS, we guarantee to interview a fair and proportionate number of applicants with a disability, whose application meets the minimum criteria for the advertised job role.

We also provide adjustments that are reasonable throughout the recruitment process to reduce or remove barriers for applicants with a disability, long-term health condition or neurodivergent condition. If you’d like an adjustment to the recruitment process just let us know

If you’re excited by the thought of becoming part of our team, get in touch.

We’d love to hear from you.

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.

Seniority level

• Seniority level

  Executive

Employment type

• Employment type

  Full-time

Job function

• Job function

  Human Resources

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