Admiral UK (EUI) Head of Reward

Background – Admiral Group

Admiral Group is a leading FTSE100 Financial Services company with a presence in eight countries. The company was set up in 1993 as a car insurance specialist, but since then the Group has expanded in other countries and other insurance verticals such as household and travel insurance, in loans, price comparison platforms, and has developed innovative products.

Admiral is agile, innovative and not afraid to test new ideas. During the early 2000’s, Admiral created the first price comparison website, and now heads the largest network of price comparison platforms in the world.

The Group launched Admiral Financial Services, focused on personal loans, in 2017. It utilizes the learning gained from the Group’s experience within the insurance sector, and has a focus on data analytics, technology, customer-centricity, and product innovation. 

More recently, the Group has launched new Insuretech propositions, such as Veygo and Homebrella focused on millennials and microinsurance. To provide further resource for business development, a new arm was recently set up called Admiral Pioneer, tasked with exploring and investing in new ventures and emerging consumer needs.

The Group has 7 million customers worldwide and employs over 11,000 people across its operations, with around 7,000 in the UK. Admiral is a growth story with an enviable track-record of strong financial performances, ROE consistently over 50%, a turnover of £3.5 bn and a profit before tax of £520 m in 2019.

Company Culture

Admiral’s philosophy is that ‘people who like what they do, do it better,’ and Admiral is proud to offer an open culture where achievement is rewarded and recognised and where coming to work is exciting every day. In 2019 Admiral received a special award from ‘Best Companies to Work For’ as the only company to feature within their rankings since they began 20 years ago: a true testament to the Group’s culture.

Admiral aims to recruit the best talent and strives to empower its managers and equip them with the tools needed to succeed, including giving them ownership from the onset. Admiral has a digitally focused, entrepreneurial and customer-centric mindset. Managers are encouraged to explore new ideas and have regular exposure to the Group’s CEOs. This is a quite special place where talented individuals can progress their careers, whilst also maintaining a good work-life balance and have fun.

Role Overview

The Head of Reward is responsible for the development and delivery of the reward strategy for EUI (Admiral UK).

This is a senior position, reporting directly to the Head of People Services and working closely with other senior managers, providing support and guidance in key areas of remuneration and reward. 

Key Areas of Responsibility

• Ensuring that the remuneration structure and strategy of the UK business is aligned to both the commercial and cultural objectives of the group, and the requirements of the regulators 
• Work with the Head of People Services to integrate Reward into the overall People strategy for the UK business and through all parts of the employee lifecycle 
• Recommending possible changes in the UK remuneration structure, including salary levels, incentive schemes and bonus payments; whether driven by internal factors (efficiency, staff morale) or external factors (regulator, investor expectations)
• To provide both internal and external benchmarking of role compensation levels and benefit packages at different levels to ensure we attract and retain talent; and to ensure that employees with the same level of experience and responsibilities within the company are rewarded fairly and are on par with each other
• To improve or enhance the overall reward offering to support Admiral in continuing to be one of the employers of choice in Wales and the UK
• Ensuring that the reward and benefits offered are visible, well understood and have high take up from the UK workforce
• Ensuring that payroll is processed in accordance with HMRC requirements
• Continually reviewing the Pension and benefits provision to ensure it attracts and retains key talent
• Supporting the Board, Remco and other relevant committees in all its deliberations relating to UK remuneration structures by working closely with the Group Head of Reward
• Working with the Regulators on matters relating to UK remuneration
• Responsibility for accurate and timely MI in both Payroll and Reward areas
• Overall line manager responsibility for the UK Payroll and Reward areas

Candidate Profile

Essential

• Experience of implementing and improving Reward structures in a large company
• Experience of working with and operating at senior manager level
• A high degree of comfort in communicating and presenting up to Board level
• An excellent track record of running successful teams in Payroll and Reward
• Ability to build open relationships and gain consensus with all internal and external stakeholders
• Attention to detail, with an analytical and numerical mindset
• Strong influencing and persuasion skills
• Strong communicator
• Commercially minded
• Proven project management skills

Beneficial

• Experience working with the regulators
• Working at a senior level within a People/ HR Function
• Degree, CIPD or equivalent experience/ qualification

Salary, Benefits and Work-Life Balance

We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.

At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we're voted no. 1 in the 2019 Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.

Please note, if successful, you must be available for an interview on Monday 9th November. 

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