Reward Manager

OneSavings Bank PLC; Wolverhampton; Hybrid; GBP 75,000 - 80,000; Full time

Job summary

OneSavings Bank PLC is seeking a Reward Manager to lead the development of a comprehensive reward and benefits strategy. This role offers the chance to engage deeply with financial services remuneration issues and provides competitive compensation and excellent benefits, including hybrid working options.

Benefits

Discretionary annual bonus opportunity of up to 15%

28 days annual leave plus bank holidays

Contributory pension (8% employer 5% employee)

Life Assurance (4x salary)

Access to Private Medical Insurance and Medical Cash Plan

Hybrid working options

Cycle Purchase scheme

Technology Purchase scheme

Season Ticket Loan

Employee Perk Portals

Qualifications

• Experience in compensation and benefits roles within financial services.
• Strong technical knowledge of employee benefits and reward mechanisms.

Responsibilities

• Design and implement reward and benefits strategy.
• Collaborate on remuneration committee matters and statutory reporting.
• Manage financial services remuneration regulatory matters.

Skills

Compensation Management

Employee Benefits Knowledge

Remuneration Committee Matters

Job Evaluation

Salary Benchmarking

Job description

About the team

The Reward team is a newly established part of our People function which supports the Bank in ensuring that we can attract, motivate and retain our colleagues. As we embark on an ambitious people transformation agenda, this is a really exciting time to join the Bank to become an integral part of the design and implementation of a revised reward strategy.

The Reward team is responsible for setting our reward and benefits strategy and implementing frameworks that support and incentivise a culture of high-performance, our people transformation agenda and the ongoing retention of employees.

What you will be doing?

As the Reward Manager, you will act as a subject matter expert on all reward matters and work closely with the Reward Director and wider People function.

Your responsibilities will include…

• Working in partnership with the Reward Director in establishing a Reward and Benefits Strategy which helps to create a high-performance culture and meets the current and future needs of the business
• Supporting the Reward Director on all Remuneration Committee matters including drafting papers along with statutory reporting
• Providing support on financial services remuneration regulatory matters including assisting with maintaining the Group’s list of Material Risk Takers (MRTs), updates to policies and any relevant required reporting
• Working collaboratively with the Reward Director and People function on remuneration benchmarking, including completing relevant surveys with external providers
• Partnering with the Company Secratariat in administering employee related share schemes, including drafting and reviewing share plan rules and overseeing grants, vestings, minimum holding requirements, exercising and lapsing of share-based incentives
• Supporting on the design of the benefits approach and managing the administration and vendor management processes associated with all UK employee benefits and maintaining a proactive relationship with relevant external brokers and intermediaries
• Working closely with the Reward Director to coordinate the annual Compensation Review process and annual Benefits Choices Windows ensuring that all actions are completed in a timely manner
• Partnering with the relevant stakeholders with all reward-based initiatives that relate to the OSB India population
• Travelling between the Chatham, Wolverhampton and London sites as and when required

What's in it for you?

We offer a base salary dependent on experience between £75,000 - £80,000 and a competitive benefits package including:

• Discretionary annual bonus opportunity of up to 15%
• 28 days annual leave plus bank holidays
• Contributory pension(8% employer 5% employee)
• Life Assurance (4x salary) plus Group Income Protection
• Access to Private Medical Insurance and Medical Cash Plan

• Additional benefits such as Hybrid working, Cycle Purchase scheme, Technology Purchase scheme, Season Ticket Loan, Holiday purchase / sell schemes, Employee Perk Portals, Payroll giving and Save as you Earn scheme

Please use this link to see the fantastic benefits available at OSB: OSB Careers

About us

At OSB Group, we understand how much our people bring to our organisation, which is why we try our best to give back too! Our Purpose is to help our customers, colleagues and communities prosper and we are on a transformation journey to become ‘the bank of the future’.

Our commitment to professional development, flexible working, and employee well-being fosters a dynamic and supportive workplace.

Do you have the skills?

We are looking for talented individuals who have the experience and knowledge set out below:

• Previous work experience undertaking a specialist Reward or Compensation & Benefits role ideally within Financial Services inclusive of:
  • Managing or supporting on compensation related activities (for example, remuneration committee matters, annual compensation reviews, design of compensation schemes etc)
  • Partnering with external employee benefits providers and associated brokers and intermediaries
  • Completing effective job evaluations and providing salary benchmark data via a recognised external methodology
• Strong technical knowledge of a broad range of employee benefits and reward mechanism

Next steps

If this sounds like you, please apply now! For internal applications please visit the internal careers page to apply.

Still on the fence? Hear from our team or explore our process: OSB Careers

Shortlisted candidates will go through a personalised recruitment process, that is relevant and conversational – inclusive any individual reasonable support required. We want to bring out the best in you!

Diversity, Equity & Inclusion

Not sure if you meet the spec? Let us decide.

Research tells us that those from marginalised groups feel like they need to meet 100% of the criteria to apply.

We champion diversity at all levels, with Board-level Diversity Champions tracking our progress. We are proud to be signed up to the Women in Finance Charter to actively support the growth and development of senior women in our sector and are dedicated to treating all our employees and job applicants equally, opposed to discrimination on any grounds.