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Payroll Governance and Compliance Manager

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Legal & General

1mo ago

  • Job
    Full-time
    Senior Level
  • Legal
    People, HR & Administration
  • Cardiff
  • Quick Apply

AI generated summary

  • You need expertise in payroll processes, pensions legislation, risk management, FCA regulations, auditing, manual tax calculations, and leadership experience. Proficiency in Excel is essential.
  • You will audit payroll processes, manage risk events, ensure compliance, deliver training, coordinate transaction monitoring, and develop team performance while embedding Conduct Risk principles.

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 primary responsibility of the Payroll Governance and Compliance Manager?

The primary responsibility is to monitor payroll processes and legislative compliance, ensuring accurate and timely payments to customers while coordinating risk event actions and analysis.

What skills are required for this role?

Required skills include in-depth knowledge of payroll processes, familiarity with pensions payroll legislation, risk management expertise, auditing skills, and intermediate Excel skills.

Is there an opportunity for professional development?

Yes, the role includes managing and developing employees, which supports career development and the opportunity to share knowledge through training.

What type of work environment does Legal & General provide?

Legal & General provides a welcoming culture that values diversity and inclusion, with redesigned workspaces that emphasize collaboration and employee wellbeing.

Are there benefits related to family leave?

Yes, the company offers competitive family leave benefits.

What experience is necessary for this role in terms of leadership?

A minimum of 1 year of management experience or experience leading by example is necessary for this role.

Will there be opportunities for participation in performance-related plans?

Yes, there is an opportunity to participate in the annual, performance-related bonus plan and valuable share schemes.

Does the role require interaction with external regulatory bodies?

Yes, the role involves attending regular regulatory and industry forums and events to stay informed on compliance practices.

What is Legal & General's stance on flexible working arrangements?

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

How does this role contribute to customer outcomes?

The role ensures that all payroll processes and internal controls deliver good customer outcomes while managing conduct risk effectively.

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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.