Payroll Controller: Senior Compensation Controller

Job summary

You will perform a key role within the Payroll Controller team, reporting to the Head of the Payroll Controller team, who in turn will report to the Payroll Head and who is responsible for overseeing both the Controller and Administration teams. You will initially play a significant role in developing the new team in Glasgow and for helping to manage the successful transition of responsibilities from the London team to the new Glasgow team.

Job Description

Ongoing responsibilities will incorporate a combination of project work, ownership of key monthly processes, people management and liaison with different groups in the firm.

Supporting a team of three, specific responsibilities will include:

• Ownership of the UK & EMEA payroll, cash bonus and other key compensation accrual processes (including employee loan accounting and severance bookings) with responsibility for ensuring that the accounting for these processes is complete, accurate and prepared on a timely basis.
• Responsibility for ensuring that any currency exposure generated by the booking of compensation expenses is hedged on a timely basis in line with the firm’s strategy for managing foreign exchange rate risk.
• Maintaining and enhancing the Accounting control framework for compensation expense.
• Reviewer responsibility for certain balance sheet and P&L accounts related to the above mentioned processes, reporting variances and issues to management on a monthly basis and resolving issues and queries that arise.
• Key involvement in a variety of projects undertaken by the department including roll out of the global compensation-splitting project, automation projects and managing acquisition, new EMEA offices or disposal activities.
• Working with payroll IT where necessary on payroll accounting systems, including maintenance, upgrades and any necessary changes to system requirements.
• Leading the team in the preparation of monthly compensation flash reporting for the UK and EMEA regions with focus on drivers behind monthly variances. These reports satisfy internal management reporting requirements and are distributed to relevant groups in the US for inclusion in monthly and quarterly global compensation reporting.
• Interaction with management reporting and legal entity controller groups across both infrastructure and business unit areas, responding to queries and providing support for and analysis of compensation movements for monthly infrastructure and BU P&L reporting.
• Liaison with a variety of groups and individuals (including payroll controllers in the US, Far East and within all European regions, HR, legal entity controllers, accounting policy and tax groups) in agreeing payroll policy, changes in processes, discussing payroll related issues and roll out of changes to payroll systems.
• Pivotal role in the year-end process, including responsibility for the year-end cash bonus accruals, analysis of dual contract splits, currency hedging, year-end planning with HR in Europe and NY, and completion of the year-end bonus reconciliation.
• Liaison with external and internal auditors to assist with understanding the key processes, giving access to systems for sample testing and providing evidence of key controls.

Skills / Experience

• The candidate should be a qualified accountant (CIMA or ACA).
• Strong accounting knowledge with experience of compensation based accounting and disclosures would be a strong advantage (UK, IFRS and US GAAP knowledge).
• Prior experience of managing teams is required as this candidate will have responsibility for overseeing and managing the work of approximately three people.
• Good track record of managing processes and of continuously reviewing and improving processes is required.