Head of Payroll and Benefits

About the London Metal Exchange LME Group is the world centre for industrial metals trading and clearing. Most of the world’s non-ferrous metals business is conducted on the LME. The metals community uses the LME, a member of HKEX Group, as a venue to transfer or take on price risk, as a physical market of last resort and as the provider of transparent global reference prices.

Overall Purpose of Role

The role of the Head of Payroll and Benefits is to effectively deliver key operational HR activities including the effective and timely running of multiple payrolls across various locations and related payroll reporting as well as the review and renewal of all benefit programs. The role will also be heavily involved in both external and internal audits as well as general HR operational process improvements. The Head of Payroll and Benefits will support and manage the HR Analyst.

Responsibilities

• Standard Payroll: Responsible for the running of the UK payroll, including a detailed reconciliation of net month to month variance. Review all monthly payroll interface data and variable data to ensure this has been inputted correctly. Supervise the HR Analyst, providing guidance and training in development areas. Manage the payroll integration between ADP and our HRIS, Workday. Reviewing all monthly payroll interface data and variable data inputted by HR Analyst, in preparation for Head of Reward & HR Operations final review. Offer guidance to HR Analyst on all payroll data entry. Check all new joiners have the appropriate paperwork from onboarding. Ensure appropriate evidence is obtained for all pay-related changes. Be the main point of contact to employees for any payroll-related queries including helping the HR Analyst to manage the payroll inbox and coach them in picking up low-level queries. Review the monthly new starter administration of the Company’s pension scheme and pension arrangements including monthly reconciliations and ensuring auto‑enrolment obligations are met. Submit monthly schedules for Give As You Earn and Childcare vouchers. Create monthly GL postings for UK Finance team. Manage P11d and P60 process in line with mandatory timelines. Manage compulsory settlement agreement reporting to HMRC. Responsible for Singapore payroll and submission of all mandatory tax reporting (IR8A form).
• Bespoke Payrolls: Management of international pay‑runs including managing Italian Social Security shadow pay‑run and ensuring complete compliance with Italian authorities, and managing monthly Dubai payroll, including mandatory DEWs process and contribution reporting. Manage all data required to complete the Non‑Resident Directors (NRD) pay‑runs each month. Responsible for the annual Short Term Business Visitors (STBV). Ensuring correct gross‑up and non‑gross‑up of total compensation elements. Long service award, shadow / gross‑up pay‑run to ensure the benefit has been taxed appropriately. Manage quarterly and annual HKEX Global Commodities Board pay‑runs. Responsible for the long‑term incentive plan. Ensuring all tax obligations on Restricted Share Units (RSUs) are met via the sell‑to‑cover process. Responsibility for external engagement, including ensuring full audit trail of PAYE elements that are submitted to HMRC and managing mandatory RSU reporting to HMRC.
• General responsibilities and projects: Run project ensuring abolishment of P11ds and mandatory payrolling of benefits is completed before statutory deadlines and create new monthly process for ensuring pro‑rated BIK costs are processed via the payroll. Work closely with tax advisors to ensure the LME is up to date on employment taxation legislation. Where specific overseas working arrangements are required, research the local obligations and recommend plan for local payroll and reporting compliance. Present recommendation to CEOs for approval. Answer all non‑resident director tax queries. Responsible for all director emolument forms and share charge calculations. Strong partnership with Finance on people cost management. Work closely with Finance team on the annual budgeting process, providing detailed MI as requested.
• Benefits: Run the UK and SG annual benefit renewals of the Group’s Life Assurance, PHI, Private medical insurance and all other benefits, liaising with the LME’s benefit broker. Work closely with benefit broker to ensure benefits offered are industry standard. Strategic input will include presenting recommendations to the CEOs and the Executive Committee. Conduct periodical market review of LME benefit package (with broker involvement), present results and recommendations to the Head of HR and CEOs. Work closely with HK to run the annual medical review for Dubai. Build out benefit offerings in line with local industry standard. Roll out new benefits where appropriate (electric car scheme for example). Thoroughly research new benefits and present recommendations to the CEOs and the Executive Committees. Responsible for everyday processing of the pension scheme. Ensure monthly pension contributions are calculated correctly and submitted to pension provider in a timely manner. Ensure auto‑enrolment requirements are met. Main point of contact for annual PWC pension audit.
• Audit and Processes: Own and manage the JML (joiner, mover and leaver) process from a HR perspective and represent HR in process improvement meetings. Responsible for annual PwC JML audit and payroll audit. Assist Head of Reward and HR Operations with continuous HR process improvement. Assist with process updates via Visio as and when required. Responsible for data cleansing program ensuring all employee data is cleansed in line with GDPR requirements.

Required Knowledge and Level of Experience

Degree level of education. Payroll accreditation (CIPP) preferred. Accounting and financial accruals knowledge.

Skills set and Core Competencies Required for Role

• Excellent system skills – particularly Excel.
• Ability to confidently present to CEOs and sub‑committees of the Board.
• Ability to deal with demanding deadlines and conflicting priorities.
• Ability to work without extensive supervision.
• Interested in continuous improvement and exploring options to make processes more efficient.
• Work collaboratively with peers.
• Demonstrate appropriate attention to detail.
• Offer innovative solutions to problems.
• Relationship Management – must be able to proactively build partnerships across the LME and externally.
• Ability to handle confidential and sensitive information and situations.
• Experience of working with Workday preferred.

Personal Qualities

• Positive attitude.
• Thrives in a fast‑paced environment.
• Analytical and detail‑oriented.
• Calm disposition with an ability to work on numerous projects and conflicting deadlines.

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity and expression, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.