Carried Interest Plans Consultant
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- Full Time
- Contact: Recruitment Team
- Reference: R0071559
- Posted April, 22, 2024 6:04 PM
Job Description At abrdn, enabling our clients to be better investors drives everything we do. Through the expertise, insight, and innovation of our team, we aim to help clients create more ways for money to...
Job Description
At abrdn, enabling our clients to be better investors drives everything we do.
Through the expertise, insight, and innovation of our team, we aim to help clients create more ways for money to make an impact. We set our sights on giving them more confidence to achieve their goals, and more clarity about what they need next. And we focus on delivering outcomes that are more than just financial – by investing responsibly to build a better world.
The Global Reward Team sits in abrdn's HR function and is responsible for developing and embedding a compensation and recognition framework that attracts, motivates and retains employees.
Reporting to the Executive Reward Manager, the Carried Interest Plans Consultant will be responsible for the management of Carried Interest Plans for our Private Markets businesses.
Through a number of methods such as benchmarking, analysing market best practice and understanding our Private Markets businesses, this role will manage the application and review of the philosophy and design parameters for Carried Interest Plans. It is a global role and will partner with the business in the development and implementation of new plans, the management of ongoing plans including maintenance of plan data (joiners, leavers and associated reallocations) and the plan maturity process.
Beyond the core Carried Interest responsibilities there is the opportunity to build exposure to and knowledge in broader Reward including Executive Reward.
Key Responsibilities:
Working closely with the Global Head of Reward and Executive Reward Manager, in this role you will:
Oversee and apply the strategy and approach to Carried Interest policy, aligning to Company remuneration principles and compliant with relevant legal and regulatory requirements, ensuring adequate risk management takes place.
Manage processes and key performance indicators to support the business in the creation, governance and delivery of Carried Interest Plans, ensuring robust process controls and the documentation and maintenance of key processes, establishing ownership and compliance at each stage, working closely with colleagues in our Tax function.
Work with the Private Markets businesses to catalogue existing plans and participation in a single source register.
Keep closely aligned to business, external market and regulatory developments in order to oversee Carried Interest philosophy and design parameters that meet required objectives for abrdn and the Private Markets business.
Engage closely with the Private Markets businesses and regional HR functions to ensure consistent application of the philosophy and design parameters and associated governance as appropriate.
Work with the Global Head of Reward and Executive Reward Manager, and with other abrdn colleagues and external advisers as required, to maintain, interpret and apply Policy consistently.
Manage the structure, standards and governance for Carried Interest Plan management in conjunction with the business and the wider HR function and with other abrdn colleagues and third-party suppliers as appropriate. Identify and escalate concerns and risks that cannot be managed within the role.
Maintain plan records including key milestone activity and participation data and the issue and review/maintenance of plan documentation as appropriate. Work with business managers and leaders to identify and rectify any gaps in central plan records.
Partner with internal legal and tax experts to ensure that legal, tax and regulatory requirements are met and that plan documentation is fit for purpose from a legal, taxation and regulatory perspective.
Support the Carried Interest-related requirements of any ad-hoc programmes or corporate actions including acquisition or disposal of Private Markets businesses, working as part of multi-function teams within and beyond HR.
Essential candidate requirements:
Proven experience of involvement in the creation and management of Carried Interest Plans including familiarity with plan or other legal documentation and ideally with the grant and maturity process
Sound numerical, analytical and data management skills with strong attention to detail
Strong Microsoft Excel, Word and PowerPoint skills
Proactive and comfortable working independently
Results orientated with the ability to manage multiple competing priorities
Desirable:
Awareness of how the Private Markets strategy can be supported through the implementation and management of effective Carried Interest arrangements
Project and process management experience
Exposure to robust risk management processes
Experience of report writing for senior audiences
Relationship management including building relationships with influencing senior stakeholders
Awareness of wider Reward frameworks is desirable
We are proud to be a Disability Confident Committed employer. Therefore, if you have a disability and would like to submit an application to one of our UK roles under the Disability Confident Scheme, please notify us by completing the relevant section in our candidate questionnaire and one of our team will reach out to support you through your application process.
Our Benefits
There's more to working life than coming home with a good salary. We have an environment where you can learn, get involved and be supported.
When you join us, your reward will be one of the best around, including 40 days annual leave, a 16% employer pension contribution, a discretionary performance-based bonus (where applicable), private healthcare and a range of flexible benefits including gym discounts, season ticket loans and access to an employee discount site amongst many others. You can read more about our benefits here.