Compensation and Benefits Manager in London

About the company

Steamship Mutual is a P&I insurance company, with over 240 employees worldwide. The main office is based near Liverpool Street station, London. We have offices in Bermuda, Brazil, Cyprus, Greece, Hong Kong, Japan, New York, and Singapore.

Job Purpose

To provide expert advice and administrative support in delivery of accurate and compliant UK and international payrolls and manage the Company’s global employee benefits programmes. The role provides specialist advice on compensation and benefits, supports the annual reward cycle, ensures adherence to legal, tax, and regulatory requirements across multiple jurisdictions, and contributes to the ongoing development of the Company’s total reward framework.

Key Responsibilities

• Payroll

• Lead and administer monthly UK and international payrolls, ensuring accuracy, timeliness, and full compliance.
• Ensure adherence to all statutory, tax, and regulatory obligations across UK and international jurisdictions.
• Manage vendor performance for outsourced payroll services, setting clear SLAs and monitoring deliverables.
• Oversee payroll governance, including monthly reconciliations, statutory reporting, internal controls, and payroll audits.
• Main point of contact for queries relating to payroll or tax codes queries.
• Manage payroll adjustments such as back pay, severance, off cycle runs, deductions and benefits contributions.
• Identify process inefficiencies and implement workflow improvements to enhance accuracy and reduce risk, including HRIS integration.
• Assist with annual pay reviews, including data management and input.
• Collaborate with Finance, HR, brokers, and payroll providers.

• Manage the lifecycle of employee benefits programmes, including renewals, plan design, communications, vendor negotiation, and governance.
• Administer the full range of employee benefits, including healthcare, risk benefits, pensions, wellbeing initiatives, salary sacrifice schemes, and the Benefits Hub platform.
• Oversee benefits policies, SharePoint content, and HR systems to ensure accuracy and compliance.
• Monitor benefit usage, performance, and cost-effectiveness, providing insights and recommendations.
• Coordinate the annual benefits review to understand benefits offered, take-up, cost to serve and ROI.
• Support annual insurance renewals. Liaise and negotiate with brokers, and ensure benefits communications and policies remain accurate, engaging, and compliant.
• Develop strong relationships with external suppliers and brokers, ensuring efficient and effective service delivery.
• Manage and track all benefit related invoices and reconciliations within areas of responsibility.
• Improve communication and awareness of benefits offered on a consistent basis across the business. Communicating any announcements and changes to benefits.

• Support the annual pay and bonus review processes, budget planning, and reward analytics.
• Produce accurate monthly HR metrics, establishment numbers, turnover data, and equal pay analysis, and UK Gender Pay Gap reporting.
• Conduct external salary benchmarking and market analysis.
• Preparing all the relevant spreadsheets and pay review letters.

• Manage and develop the Payroll Administrator, ensuring high standards, strong performance, and continuous growth.

Person Specification

Essential

• Extensive UK payroll experience and exposure to international payrolls (any experience in any of the following jurisdictions would be desirable: HK, Japan, Singapore, Bermuda, Cyprus, Greece, and Brazil).
• Highly numerate, detail-focused with an exceptional analytical accuracy.
• Strong benefits administration expertise including medical, risk benefits, pensions, and wellbeing initiatives.
• Advanced Excel and HR reporting experience - Comfortable with pivot tables, chart production, data analysis, and reporting.
• Ability to manage vendors, influence stakeholders, and uphold high standards of governance.
• High level of professional integrity and discretion.
• Ability to work independently and manage competing priorities.

Desirable

• Experience with Staffology, SAP or international payroll platforms.
• Reward analytics or compensation modelling experience.
• Professional HR or payroll qualification.

What you will get

Joining our collaborative, supportive and friendly working environment, you will enjoy a rewarding career with the opportunity to build on your existing skills and knowledge. We offer great work life balance initiatives, including competitive hybrid working policy. Clear and transparent career pathway – offering you continued support with enhancing your skills and creating employment development opportunities. We offer free educational access to the Protection & Indemnity Qualification, created by the International Group of P&I Clubs. An attractive benefits package which includes private healthcare. We also provide competitive health subsidy, and access to our comprehensive wellbeing and savings programme throughout the year, to create an environment that supports everyone’s mental and physical health.

Company Values

• Mutuality - ensuring fairness amongst Club Members.
• Integrity - upholding high ethical, legal, and regulatory standards.
• Safety and Sustainability - contributing to safety of life at sea and the preservation of the environment.
• Transparency - building strong relationships based on trust and open communication.
• Excellence - enabling our people to realise their full potential as team members, industry experts, leaders, and managers.
• Collaborative - embracing flexibility, diversity, and inclusivity.

Steamship Insurance Management Services Ltd is committed to providing a great service to all our members. We pride ourselves on offering a people-centred culture that provides mutual respect and support for all our staff, and we welcome and encourage you to apply.