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Payroll Governance and Compliance Manager

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Legal & General

1mo ago

  • Job
    Full-time
    Senior & Expert Level
  • Legal
    Banking & Finance
  • Cardiff
  • Quick Apply

AI generated summary

  • You must have payroll expertise, knowledge of pensions legislation, risk management skills, auditing experience, intermediate Excel proficiency, and leadership experience.
  • You will manage payroll compliance, analyze risks, embed Conduct Risk principles, monitor transactions, deliver training, and develop team members to ensure excellent customer outcomes.

Requirements

  • In-depth knowledge of payroll processes
  • Familiarity with pensions payroll legislation
  • Risk management expertise
  • Knowledge of payroll appropriate governance and controls
  • Understanding of FCA regulations
  • Intermediate Excel skills, including analysis
  • Experience governing over large payrolls
  • Ability to research complex legislation
  • Auditing skills
  • Proficiency in manual tax calculations
  • Understanding of annuitant payrolls
  • Involvement in compliance review/audit
  • Coordination of risk event procedures
  • Leadership experience: Minimum of 1 year in management or leading by example/managing activities

Responsibilities

  • Creating and managing auditing of annuitant payments, collaborating with the Head of Customer Payroll, Risk, Operational Governance, and Operational Tax representatives to create, monitor, and report on the health of payrolls from a compliance and risk perspective, both for the leadership team and for the control framework sign-off
  • Identifying risk events within CS and working with assigned leads, using payroll and process expertise to advise and guide, ensuring processes are reviewed and updated, and relevant analysis is completed to agree on actions for successful closure of the event
  • Embedding the principles of Conduct Risk into day-to-day operations to deliver good customer outcomes at all times, ensuring all business processes and internal controls within the role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk
  • Managing the analysis and coordination of actions required from start through to closure of a payroll risk event, attending regular regulatory and industry forums and events, bringing away best and common practice surrounding practical operations of complex legislation, with a view to embedding learnings within the teams
  • Supporting colleagues by sharing knowledge and delivering training on processes to help maintain excellent customer service and quality standards within the department
  • Managing transaction monitoring, ensuring it takes place, actions are agreed, monitored, and recorded/reported to protect both Legal & General and our customers from any financial loss
  • Ensuring the principles of Conduct Risk are embedded into day-to-day operations to deliver good customer outcomes at all times, ensuring all business processes and internal controls within the role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk
  • Managing, motivating, and developing employees at all levels, in a manner that is consistent with the Company’s policies and procedures, including the Partnership Agreement, to maximise the performance of the area, and covering for G5 roles in the team during absence

FAQs

What is the main responsibility of the Payroll Governance and Compliance Manager?

The main responsibility is to monitor payroll processes and legislative compliance, coordinating risk event actions and analysis to ensure accurate and timely payments and reporting for annuitant payrolls.

What qualifications are required for this position?

Candidates should have in-depth knowledge of payroll processes, familiarity with pensions payroll legislation, risk management expertise, knowledge of payroll governance and controls, understanding of FCA regulations, and experience governing large payrolls.

Is leadership experience necessary for this role?

Yes, a minimum of 1 year in management or leading by example/managing activities is required.

What kind of skills are needed in terms of technical proficiency?

Intermediate Excel skills, including analysis, auditing skills, and proficiency in manual tax calculations are needed for this role.

What benefits does Legal & General offer to its employees?

Benefits include participation in an annual performance-related bonus plan, generous pension contributions, life assurance, private medical insurance, at least 25 days of holiday plus public holidays, competitive family leave, and various discounts.

How does Legal & General approach flexible working arrangements?

Legal & General is open to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs.

What is the culture like at Legal & General?

The culture is welcoming and encourages collaboration with people of diverse backgrounds, views, and experiences. Leaders at the company care about employee futures and wellbeing.

How does the Payroll Governance and Compliance Manager support colleagues?

The manager supports colleagues by sharing knowledge and delivering training on processes to maintain excellent customer service and quality standards within the department.

Are there opportunities for professional development within this role?

Yes, employees are empowered through initiatives that support career development and excellence.

How does the role contribute to maintaining customer trust?

The role helps maintain customer trust by ensuring accurate payments, timely reporting, and compliance with regulatory requirements, thereby protecting customers from financial loss.

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Legal & General

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Finance
Industry
5001-10,000
Employees
1836
Founded Year

Mission & Purpose

Established in 1836, we are one of the UK’s leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With over £1 trillion in total assets under management, we are the UK’s largest investment manager for corporate pension schemes and a UK market leader in pensions de-risking, life insurance, workplace pensions and retirement income. We have also invested over £20 billion in direct investments such as homes, urban regeneration, clean energy and small business finance. Through nearly two centuries of rapid change, we’ve been there, improving the lives of our customers, and building a better society for the long term.