HR Regulatory Manager

  • Jefferies
  • London, UK
  • Apr 14, 2022
HR Manager Human Resources

Job Description

Working with the EMEA Head of Human Resources and the CEO of EMEA, along with the Heads of Business Units, to ensure compliance with all HR regulatory requirements, in particular compensation regulation and the Senior Managers and Certification Regime (SMCR). This newly created role sits within the Human Resources (HR) function of Jefferies International Limited (JIL). The primary objective of the role is to ensure that the HR function, including its policies and practices across the EMEA region, remain compliant with the regulatory and legal requirements in each of the countries that the company has a presence in EMEA. This is a great opportunity to join the EMEA HR team at a time of tremendous business growth and diversification. A proactive, pragmatic response to the evolving regulatory and legal environment will be critical to the company's growth ambition.



Key Detailed Deliverables:


1) General Responsibilities:


  • Direct oversight of all HR regulatory matters for EMEA
  • Anticipate the changing HR regulatory requirements in EMEA that will impact JIL employees
  • Lead projects and serve as the subject matter expert of all HR regulatory matters both from the HR business perspective and overall employee impact
  • Support in evaluating JIL’s HR policies and practices against the EMEA regulatory regime
  • Working with Employment Legal, act as the first point of contact for HR privacy, data protection, incident management matters and ensure that EMEA is compliant with local privacy legislation and global policies




2) Compensation Regulation


  • Provide subject matter expertise and oversight on Compensation Regulation, ensuring that the appropriate structures and practices are in place across the EMEA region
  • Keeping abreast of regional regulatory issues and evaluating JIL’s Remuneration policies, practices and processes against the continuously evolving remuneration regulatory landscape in EMEA
  • Involvement with complex remuneration/regulatory projects including working across-functional teams
  • Responsible for ensuring the proper identification and remuneration of Material Risk Takers (MRTs) and the annual filing with the FCA of the MRT Exclusion list
  • Participate in the preparation of the annual Gender Pay Report including presentation to the Remuneration Committee and filing with the FCA
  • Front to back ownership of Capital Requirements Directive (CRD V) and The Investment Firm Regulation/Directive (IFR/D) to ensure compliance
  • Key contact for the JIL Company Secretary in preparing for Remuneration Committee meetings, including preparing relevant documents and attending meetings
  • Assisting with the implementation of the remuneration regulatory requirements, and compliance with the UK/EMEA regulators as necessary whilst maintaining Jefferies global approach to remuneration issues
  • Support in developing JIL’s reward structures to ensure compliance with EMEA regulatory requirements while maintaining Jefferies global Compensation philosophy and remaining competitive
  • Chair the JIL Quarterly Regulatory Working Group- main responsibility is to determine MRT status of new joiners and movers
  • Role Based Allowance identification and implementation through payroll and legal documentation
  • Working closely with the wider Compensation Finance team and other internal stakeholders i.e., Risk, Compliance and Legal
  • Training HR colleagues and key stakeholders on practical implementation of remuneration governance and regulatory requirements from a UK/EMEA perspective.
  • Manage audit responsibilities in connection with regulatory remuneration matters and support liaising with control functions to demonstrate governance and controls
  • Liaise with the regulatory governance team to ensure the company is compliant with regulatory reporting requirements
  • Partner with colleagues locally and globally to ensure streamlined delivery of regulatory compensation matters
  • Drive change and optimize processes across all regulatory compensation matters
  • Work with Compensation Finance to ensure accurate compensation accruals on a monthly basis




  • SMFs
    • Liaise with Compliance and the JIL Company Secretary to:
      • Ensure that appropriate individuals are allocated the appropriate mandatory SMF functions, including prescribed and overall responsibilities
      • Assist with the preparation of the statements of responsibility for the SMFs making sure that they understand the scope of their SMCR responsibilities.
      • Ensure that SMFs and the regulators are formally notified of their responsibilities and any changes to them
      • Assist in maintaining the Job Descriptions s for SMF roles
      • Ensure that there are no overlaps between different SMF responsibilities
      • Assist with the recertification of SMFs where relevant every 12 months
      • Assist Compliance with the onboarding and off-boarding of the SMFs including collation and preparation of the application packs for their regulatory approval and other required notification forms
  • Breach reporting
    • Work with Compliance to ensure systems are in place to notify the FCA of any disciplinary action or conduct rule breaches within relevant timescales.
  • Recruitment and onboarding
    • Sign off on all regulatory references given and those received where flags have been raised and liaise with Compliance as appropriate
    • Act as an adviser in determining whether a role is a Certified role
  • Background checks
    • Coordinate with HR Operations to ensure that SMFs and Certified staff are properly screened.
    • Working with Compliance, ensure annual rescreening of staff supporting their re-certification as fit and proper
    • Ensure that appropriate evidence supporting the fit and proper checks is passed on to the SMF with the responsibility for determining fitness and propriety
  • Policies and Procedures
    • Ensure the annual update of all policies, procedures and forms that constitute the Individual Accountabilities Regime Framework (SMCR and Conduct Rules)- this includes Regulatory References Policy amongst others
  • Administer the SMCR system (currently Axiom)
    •  Ensure the appropriate input of the Management Responsibilities Map, Statements of Responsibilities and all information relating to SMFs and fitness and propriety.
    • Run reports of the system as required





Person Specification


1) Essential knowledge and experience:


  • Expertise and knowledge of CRD V and IFR/D as they impact remuneration regulation
  • In-depth understanding of the SM&CR regime insofar that it impacts HR activity
  • Background and proven experience for project managing HR regulatory projects such as Brexit, SMCR and CRD V as they impact compensation
  • Experience in a compensation/analytical role, ideally within HR
  • Strong background in, or familiarity with, the financial services industry
  • Understanding of banking compensation regulations generally
  • Ability to manage projects, daily responsibilities and ensure accurate production of analytics
  • Able to analyze highly complex information (e.g., legal and regulatory texts)
  • Excellent communications skills; verbal & written
  • Excellent analytical skills (able to produce meaningful reports from multiple streams of data)
  • Data oriented with exemplary attention to detail and awareness of the need for data auditing
  • Highly proficient in MS Excel 



2) Preferred Skills:


  • Enjoys high volume, fast paced environment
  • Good time management and organizational abilities
  • Proven ability to grasp new concepts quickly and a curiosity for learning new things
  • Strong work ethic, attention to detail and an organized approach to tight deadlines and deliver results under pressure
  • A great team-mate with a high level of integrity and the ability to always maintain confidentiality at all times