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Consultant, Compensation & Benefits

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Human Resources
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75420 Requisition #
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The Consultant, Compensation and Benefits is based in Luxembourg and reports to the Regional Head of Compensation EMEA, based in the London office. This role will have primary responsibility for the development, communication, and administration of compensation and benefits programs for Northern Trust’s operations across Continental Europe (CE) - Countries include, Luxembourg, Switzerland, Sweden, Netherlands and Germany.

COMPENSATION PRINCIPAL RESPONSIBILITIES:

Partners with HR Country Manager, HR Consultants, Business Managers, and Finance to address internal salary management, market data, salary policy, job structure, incentive target setting and compensation guidelines.
Analyzes local market data to determine appropriate pay levels for new offers, pay adjustments and internal equity reviews. 
Develop manager and employee communications to facilitate the understanding of compensation philosophy and processes.
Keeping abreast of and ensuring compliance with jurisdictional legislative requirements such as ABBL in Luxembourg and submission of required legislative and regulatory reporting for CE locations.
Works on special projects as needed including M&A projects. Represents specific local area requirements on global compensation projects to ensure compatibility and compliance.
Monitor regulatory requirements established by the CSSF and EBA and ensure NT’s compensation philosophy and practices are in line with regulatory requirements in CE locations. 
Support compensation governance, including effective running of the local Compensation Committee.

BENEFITS PRINCIPAL RESPONSIBILITIES:

Analyse local markets to determine mandatory/statutory requirements, market benefit levels and market trends.
Serve as an expert resource or “go to person” for general pension and benefits queries related to Continental Europe locations.
With oversight and input from the Snr Benefits Consultant EMEA, 
- Ensure Northern’s  Benefit Plans comply with local mandatory/statutory requirements
- Conduct Benefit Plan and Policy reviews and make recommendations to the Regional Head of Benefits EMEA.
- Design end to end benefit delivery to improve practices and procedures
- Manage outsourced vendors in accordance with corporate vendor management policies and resolve escalated issues
- Produce communications and materials for meetings with representative bodiesUndertake Benefit Budgeting and forecasting and cost allocation.
- Undertake Benefit Budgeting and forecasting and cost allocation.

The successful candidate will benefit from having:

Knowledge of Continental Europe Compensation and benefits practices
Understanding of elements of compensation, including long-term incentives
Sound project management skills
Experience with senior management level presentations (preparation and delivery)
Experience of working in matrix structure such as global teams
Risk Management awareness 
Advanced level Excel skills
Strong analytical skills
Strong research and interpretation skills

The competencies that would be valuable for this role include:

Knowledge of the broader EMEA regulatory environment relating to remuneration
Ability to interpret and apply regulatory legislation to applicable Compensation policies and procedures
Ability to interpret and apply legislative changes to Benefit policies and plans
Consulting and client servicing skills, ability to influence senior management
Excellent oral and written communication skills and strong judgement
Ability to synthesise data/complex messages 

About Northern Trust 

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion. 

As of December 31, 2018, Northern Trust Corporation had:

$10.1 trillion in assets under custody/administration
$7.6 trillion in assets under custody
$1.1 trillion in assets under management
$132 billion in banking assets 
As Northern Trust is a financial organisation; all new employees will be required to undergo a criminal record check.

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📁 Human Resources

Requisition #: 76448

Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
  • APAC EEO Statement
    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement