The Reward team is a newly established part of our People function, dedicated to helping the Bank attract, motivate, and retain its workforce. With an ambitious people transformation agenda underway, this is an exciting opportunity to join the Bank and play a key role in shaping and executing an updated reward strategy.

The team is tasked with developing our reward and benefits strategy and delivering frameworks that promote a high-performance culture, support the people transformation agenda, and enhance employee retention.

The primary purpose of this role is to collaborate with the Reward Director in managing reward and benefit programs that support effective recruitment and engagement of employees, aligning with the Group’s People vision to become an employer of choice.

The role holder will serve as a subject matter expert on all reward-related topics, collaborating closely with the Reward Director and the broader People team. This would be inclusive of complying with relevant financial services remuneration regulations.

A significant part of the role involves contributing to the development of the Group’s culture and people transformation agenda by helping to design and implement innovative frameworks that promote a high-performance culture and aid in retaining key talent.

Your responsibilities will include…

• Developing a Reward and Benefits Strategy that fosters a high-performance culture, addresses the current and future needs of the business, whilst remaining financially sustainable, and attracts and retains top talent
• Aiding the Reward Director in statutory reporting by drafting the Directors' Remuneration Report for the Annual Report & Accounts, compiling necessary information such as emolument statements and approvals
• Working closely with the Company Secretariat team to administer employee share schemes, including drafting and reviewing plan rules and managing grants, vestings, minimum holdings, exercises, lapses, and communications related to share-based incentives
• Partnering with the Reward Director to manage the annual Compensation Review process for salary increases and discretionary bonuses
• Working alongside Payroll to calculate the annual Gender Pay Gap (GPG) and CEO Pay Ratio, preparing related documentation for review and approval by the Remuneration Committee
• Managing the administration and vendor management of UK employee benefits, maintaining proactive relationships with brokers and intermediaries, ensuring timely and accurate policy renewals, and negotiating to secure best value for the Group
• Developing and delivering regular, clear, and engaging communications about reward and benefits to Line Managers and employees
• Attending employee forums and team or departmental meetings to improve understanding of the Group’s reward and benefits offerings

This role can be based in London, Wolverhampton or Chatham in Kent with an element of travel involved to other locations

We offer a base salary dependent on experience between £90,000 - £100,000 and a competitive benefits package including:

• Discretionary annual bonus opportunity of up to 25%
• 30 days annual leave plus bank holidays
• Contributory pension (8% employer 5% employee)
• Life Assurance (4x salary) plus Group Income Protection
• Access to Private Medical Insurance and Medical Cash Plan

• Additional benefits such as Hybrid working, Cycle Purchase scheme, Technology Purchase scheme, Season Ticket Loan, Holiday purchase / sell schemes, Employee Perk Portals, Payroll giving and Save as you Earn scheme

Please use this link to see the fantastic benefits available at OSB: OSB Careers 

At OSB Group, we understand how much our people bring to our organisation, which is why we try our best to give back too! Our Purpose is to help our customers, colleagues and communities prosper and we are on a transformation journey to become ‘the bank of the future’.

Our commitment to professional development, flexible working, and employee well-being fosters a dynamic and supportive workplace.

We are looking for talented individuals who have the experience and knowledge set out below:

• Proven experience in a specialist Reward or Compensation & Benefits role within Financial Services, including:
• Managing or supporting compensation-related activities such as remuneration committee matters, annual compensation reviews and the design of compensation schemes
• Collaborating with external employee benefits providers, brokers, and intermediaries
• Conducting thorough job evaluations and delivering salary benchmarking data using recognized external methodologies
• Strong technical expertise across a wide range of employee benefits and reward programs

Experience within financial services or providing advisory services to financial services clients from a consulting perspective will be essential for success in this role.

If this sounds like you, please apply now! For internal applications please visit the internal careers page to apply.

Still on the fence? Hear from our team or explore our process: OSB Careers

Shortlisted candidates will go through a personalised recruitment process, that is relevant and conversational – inclusive any individual reasonable support required. We want to bring out the best in you!

Diversity, Equity & Inclusion

Not sure if you meet the spec? Let us decide.

Research tells us that those from marginalised groups feel like they need to meet 100% of the criteria to apply.

We champion diversity at all levels, with Board-level Diversity Champions tracking our progress. We are proud to be signed up to the Women in Finance Charter to actively support the growth and development of senior women in our sector and are dedicated to treating all our employees and job applicants equally, opposed to discrimination on any grounds.