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STPD - HR - Head of Cash Compensation and Governance - Executive Director
SUMITOMO MITSUI BANKING CORPORATION
Source: Headcount Labs · original listing ↗
Job data: Headcount Labs, ODbL 1.0. Job descriptions belong to their employers.
Source date: 10/28/2026
About this role
SMBC: A trusted partner for the long term Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves. Who we are United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future. Role Summary Role: Head of Cash Compensation and Governance - Executive Director Location: London Is the next step in your career at SMBC Group EMEA? We’re looking for a Head of Cash Compensation and Governance for our Total Rewards team. The purpose of this role is to lead the cash compensation function and own the associated governance framework, translating the wider Total Rewards strategy into effective salary and bonus approaches across SMBC EMEA. While part of the EMEA Human Resources team, there are significant stakeholder interactions with Finance/Planning, Legal, Compliance, and Risk on these topics, as well as with the HRBP team and EMEA management. The anticipated salary range for this role is £128,000 - £192,000, with the final offer determined based on the candidate’s skills, experience, role scope, location, and relevant market factors. In addition to base salary, the role may be eligible for a discretionary incentive award and a competitive benefits package, including core benefits such as pension provision. Business Area The Reward team in Human Resources manages everything related to why, when and how employees are remunerated for working at SMBC. This role will have accountability for all cash compensation activities, including the annual compensation review (with project management support), salary and bonus management (including salary ranges, bonus targets, and managing spend forecasts and amounts with Planning and Finance), and governance meeting papers and agendas. Across SMBC EMEA there are approximately 3,000 employees, but there is significant complexity due to the number of countries in which we operate and the number of separate legal entities which need to meet disparate regulatory remuneration requirements Position Description Key accountabilities and responsibilities of this role include Salary and bonus management • Own the framework for salary ranges and bonus targets, leading the annual review and recommendations informed by market benchmarking and analysis delivered by the team (work is carried out by VP in team). • Lead salary budget and bonus funding recommendations, influencing senior stakeholders and partnering with Finance and Planning to balance business priorities and affordability. • Own the governance framework for salary and bonus changes, including out-of-cycle decisions, with clear approval, exception and escalation requirements. • Monitor pay transparency legislation for relevant locations and define response and actions for each location. • Own the stakeholder communication and engagement approach, ensuring HRBPs and Talent Acquisition understand and consistently apply compensation processes and governance requirements. • Identify opportunities for smoother operations, better understanding and improvement of our approach. • Maintain links with McLagan and other external providers to keep on top of market practice and trends in compensation. Annual Compensation Review • Lead the end-to-end annual compensation review (with support from a project manager within the team), defining all actions across a wide range of stakeholders, and ensuring appropriate governance and linkages to other stakeholders/contributors throughout. • Create and deliver a communications plan for the compensation review, ensuring that the right people at the right levels have the information they need in the right order, including presenting to senior stakeholders. • Lead cross-functional alignment across promotions, payrolls, Governance steps (including local Works Councils where required), management of regulatory deferrals, etc. Compensation policies • Own the review and development of remuneration-related policies on an annual basis, working with external advisors as required, and consulting internal stakeholders as needed. • Identify gaps in policy coverage to ensure they are addressed appropriately. Governance • Prepare, or oversee the preparation of, papers for governance meetings throughout the year across multiple legal entities. • Own the follow-through of Reward-related committee decisions and actions, working with Company Secretariat and accountable owners to secure timely completion and escalate outstanding matters • Prepare additional information for RemCo chairs as needed during the year (in some cases proactively anticipating information needs and providing clear analysis to support informed discussion and decision-making. Transformation and Operational Effectiveness • Actively identify opportunities to improve what we do and how we do it. • Continuously seek ways to enhance collaboration and ways of working in order to be more efficient. • Keep abreast of Project Horizon (globalization of HR) so that any changes or improvements considered in EMEA align to the long-term global objectives of the program. • Oversee the performance management process of senior leadership on bespoke performance management arrangements, ensuring alignment, timely data and good communication. People Leadership • Lead and develop a team including three direct reports, setting priorities to achieve the key responsibilities, and aligning capacity across Total Rewards wider team (including pensions, benefits and mobility) • Leverage resources available in the Reward team and/or MI team (and wider HR team) to support initiatives and tasks. Knowledge, Skills and Experience • Extensive senior experience in compensation management including Remuneration Committee experience. • Good understanding of regulatory remuneration requirements, including their implications for MRT compensation and the interaction with deferred awards.. • Ability to influence and constructively challenge senior stakeholders, resolve competing priorities and operate within complex approval structures. • Experience developing teams and delivering through delegated ownership. • Experience leading cross-functional change and strengthening compensation processes, controls and data quality • Excellent analytical skills including use of excel. • Ability to translate and communicate complex compensation concepts into clear recommendations for the Remuneration Committee, senior leadership, internal stakeholders and employees. Clear communication style both written and verbal Competencies Customer Focus Driving Change Driving Results Embraces Diversity Enterprise Leadership Judgement and Decision Making Risk Management Strategic and Visionary Trust and Integrity What we offer For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks. As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you: • Hybrid and flexible working • Competitive paid leave days • Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance • Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services • Access a wide range of learning and development opportunities and career progression opportunities • Ambitious remuneration package So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!! We recognise our role as a bank to support social change and welcome all applications, including those from groups often under-represented in financial services. We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing the sustainable growth of our organisation. We’ll ensure reasonable adjustments to our recruitment process are offered due to a disability or long-term condition whenever requested. We are committed to transparent and equitable pay practices. Compensation is determined using objective criteria, including skills, experience, and role responsibilities, and applied consistently throughout our recruitment processes. We do not request candidates' pay history and are committed to preventing unjustified pay disparities.