Compensation & Benefits Accountant

Job description

The Compensation and Benefits Accountant is responsible for the accurate accounting, reporting and control of employee compensation and benefits across the Group. The role ensures payroll-related costs, bonuses, commissions, pensions, share-based compensation and other employee benefits are recorded appropriately and reported accurately and on a timely basis. Working closely with Finance, HR, Payroll, Tax, FP&A, Legal and external auditors, the role will provide strong financial control over compensation and benefits processes and support the business with analysis, reporting and accounting advice. Key Responsibilities: Compensation & Benefits Accounting (40%) Own the accounting for employee compensation and benefits, including payroll, bonuses, commissions, pensions, share-based payments and other employee-related costs, as relevant to the Group. Prepare and review monthly journals, accruals, prepayments and provisions relating to compensation and benefits, ensuring completeness, accuracy and appropriate supporting documentation. Calculate, review and challenge bonus, commission and other incentive accruals, ensuring they are appropriately supported and reflect the latest business expectations. Support the accounting for share-based payments and other long-term incentive arrangements, including relevant IFRS assessments and disclosures. Maintain clear accounting documentation and ensure consistent application of Group accounting policies to compensation and benefits transactions. Work with HR to deliver the Directors Remuneration Report section of the Group’s Annual Report. Month-end, Reconciliations & Reporting (25%) Lead the month-end close activities for compensation and benefits, ensuring all relevant balances are complete, accurate and recorded in the appropriate period. Prepare and review balance sheet reconciliations for payroll, bonuses, pensions, benefits and other employee-related accounts, investigating and resolving reconciling items promptly. Provide accurate monthly reporting and analysis of compensation and benefits costs, including actuals versus budget/forecast and commentary on material movements. Support the preparation of financial statements, management reporting and disclosures relating to employee costs and benefits. Financial Controls & Audit (20%) Maintain a strong financial control environment across compensation and benefits accounting, including appropriate review, approval and segregation of duties. Ensure payroll and benefits interfaces and accounting outputs are reconciled to the general ledger and investigate exceptions in a timely manner. Support internal and external audit requests, providing clear evidence, reconciliations and explanations for compensation and benefits balances and transactions. Identify and remediate control weaknesses, process gaps and recurring issues, contributing to continuous improvement in the wider finance control framework. Business Partnering & Process Improvement (15%) Support the FP&A team by preparing compensation & benefits forecasting and headcount forecasting for planning purposes Partner with HR, Payroll, FP&A, Tax and other stakeholders to understand compensation and benefits arrangements and ensure appropriate accounting treatment. Provide financial and accounting support for new compensation structures, incentive plans, benefits changes and other people-related initiatives. Translate compensation and benefits data into clear financial insight for Finance and business stakeholders, highlighting key drivers, risks and emerging trends. Identify opportunities to simplify, automate and improve compensation and benefits accounting processes, reporting and controls. Leadership and Team Management Act as a subject matter expert for compensation and benefits accounting, sharing knowledge and supporting colleagues across the Finance function. Build strong working relationships across Finance and the wider business, fostering a collaborative and high-performance culture focused on accuracy, control and continuous improvement. General Responsibilities Maintain up-to-date knowledge of relevant IFRS standards, payroll and employee benefits accounting requirements and Group policies affecting the role. Support finance transformation, systems enhancements and other strategic initiatives relating to payroll, HR and compensation data. Undertake other accounting and financial control responsibilities appropriate to the role and business needs. Key Skills and Experience Qualified accountant (2-4 years post-qual ACA/ACCA/CIMA or equivalent). Strong post-qualified experience in financial control, management accounting or financial reporting, ideally within financial services, a listed company or a Big 4 audit environment. Experience accounting for payroll, bonus, commission, pension, share-based payment or other employee benefit arrangements. Good working knowledge of IFRS, with experience applying accounting standards to employee benefits and share-based payments; knowledge of IAS 19 and IFRS 2 is desirable. Experience with month-end close processes, balance sheet reconciliations, accruals and provisions, and financial reporting. Strong analytical and problem-solving skills, with the ability to investigate variances, identify issues and reach well-reasoned conclusions. Strong controls and governance mindset, with experience supporting audit processes and maintaining clear and robust documentation. Excellent Excel and data analysis capability, with experience working with payroll, HR or finance systems and large employee datasets. Excellent written and verbal communication skills, with the ability to work effectively with Finance, HR/Reward, Payroll and senior stakeholders. Proactive and open to change, with a willingness to simplify, automate, reengineer and improve processes and ways of working. CMC Markets is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of gender, sexual orientation, marital or civil partner status, gender reassignment, race, colour, nationality, ethnic or national origin, religion or belief, disability or age.