Reward & Performance Partner

Join LGPS Central at a pivotal moment, where investment meets long-term impact.

The Reward & Performance Partner will play a pivotal role in shaping and delivering LGPS Central’s reward and performance agenda. The role will lead high-impact work across base pay, variable pay, benefits, pensions, benchmarking, job architecture, reward governance, and the development of a clear, consistent performance approach that strengthens accountability, performance culture and organisational outcomes.

The role will help shape a reward and performance framework that is fair, transparent, market-informed and designed to support a high-performing, inclusive culture. The postholder will bring strong technical expertise, sharp analytical thinking, and credible stakeholder influence, working in close partnership with the Chief Transformation Officer, Head of People and the wider team, to drive well-evidenced decisions, stronger performance outcomes and meaningful people impact.

This is a unique opportunity to shape reward and performance practices that support the People Strategy, embed V2MOM performance objectives, reflect regulatory expectations, strengthen organisational resilience, and serve the long-term interests of LGPS Central and its Partner Funds.

What you’ll be doing:

Reward Strategy and Framework Development

• Deliver LGPS Central’s total reward review in line with the People Strategy and agreed reward principles
• Lead activity across base pay, variable pay, benefits, pensions and total reward
• Help shape a fair, transparent and market-informed reward framework
• Ensure reward recommendations support performance, inclusion and a positive employee experience
• Support reward practices that recognise performance, contribution and impact

Benchmarking, Pay Analysis and Job Architecture

• Lead the annual benchmarking cycle, working with external advisers where needed
• Deliver pay benchmarking, comp-ratio analysis, market insight and reward modelling
• Support the design and development of job architecture and clear job levelling
• Turn analysis into clear, evidence-based recommendations

Performance approach, objectives and culture

• Own and evolve LGPS Central’s performance approach, ensuring it is simple, consistent, outcome-focused and aligned to the People Strategy.
• Lead the development and embedding of a stronger performance culture, with clear expectations, meaningful performance conversations and evidence-based outcomes.
• Support leaders to set, cascade and calibrate V2MOM performance objectives so individual and team objectives are aligned to corporate priorities, business outcomes and cultural expectations.
• Use performance insight, calibration outputs and colleague data to identify trends, strengthen accountability and improve the quality and consistency of performance outcomes.

Variable pay and performance-linked reward

• Lead the delivery and modelling of variable pay and incentive frameworks, drawing on external expertise where needed.
• Ensure performance metrics are integrated into incentive design, aligned to V2MOM objectives, the corporate scorecard, business priorities and risk expectations.
• Own the connection between performance outcomes and pay decisions, ensuring reward outcomes are fair, consistent, evidence-based and clearly governed.
• Ensure variable pay approaches support sustainable performance, strong governance, appropriate risk outcomes and a positive colleague experience.
• Promote credible performance-linked reward through clear principles, robust calibration and transparent decision-making.

Governance, reporting, and stakeholder engagement

• Prepare high-quality committee papers, analysis, and recommendations for PCRC, RemCo, NomCo and other governance forums.
• Engage the Senior Leadership Group, Executive Committee, the Chief People & Transformation Officer and other senior stakeholders.
• Manage relationships with external reward advisers and other third-party partners.
• Present reward data, options, and recommendations clearly, with appropriate context and risk insight.
• Build trusted relationships across the business to strengthen understanding, confidence and engagement in reward and performance practices.

Data, systems, and process improvement

• Own reward data, modelling and analysis, ensuring accuracy, confidentiality, and strong governance.
• Identify opportunities to improve reward processes, reporting, data quality, and system use.
• Develop efficient, reliable pay modelling tools and analytical approaches.
• Ensure reward activity is delivered in a controlled, well-documented and auditable way.

Compliance, regulation, and risk management

• Ensure reward structures and recommendations reflect FCA requirements and broader governance expectations.
• Support reward activity in line with LGPS Central’s risk culture, risk appetite, and internal policies.
• Identify and escalate reward-related risks, issues, and as appropriate.
• Build a strong understanding of the LGPS landscape, implicationsPartner Fund expectations and the wider impact of reward decisions

About Us

LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for fourteen local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £100bn+ of their assets. It is one of six Local Government Pension Scheme (LGPS) asset pools in the UK.

LGPS Central’s Partner Funds are:

• Cheshire Pension Fund
• Derbyshire Pension Fund
• Leicestershire Pension Fund
• Nottinghamshire Pension Fund
• Shropshire Pension Fund
• Staffordshire Pension Fund
• West Midlands Pension Fund
• Worcestershire Pension Fund
• Gloucestershire Pension Fund
• Hampshire Pension Fund
• Suffolk County Council
• Wiltshire Pension Fund
• Norfolk Pension Fund
• Oxfordshire Pension Fund

The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.

LGPS Central offers a friendly and diverse, hybrid working environment with a range of employee benefits. The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links.

Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds

Requirements

• Significant reward experience in financial services, asset management, or a similarly regulated environment.
• Strong technical reward expertise, analytical depth and a good understanding of performance frameworks, objective setting and performance calibration.
• Proven ability to engage and influence senior stakeholders and committees with confidence and credibility.
• Excellent judgement, attention to detail and the ability to balance rigour with pragmatism.
• Strong communication and relationship-building skills, with the ability to influence senior leaders, boards, and external partners.
• Commercially aware, with the ability to align people and reward priorities to organisational goals and financial context.
• High degree of professional ethics, integrity, and gravitas.
• Strong analytical skills, including the ability to use performance, pay and workforce insight to support robust, evidence-based decisions.
• Highly effective partnering skills, with the ability to build trust, create momentum and work across the organisation.
• A growth mindset, with the ability to learn quickly, drive continuous improvement and bring fresh thinking across reward and performance.

Qualifications:

• Degree level or equivalent in a relevant discipline.
• Reward, HR, finance, pensions or related professional qualification would be advantageous.

What do we offer?

We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:

• Competitive salary
• An enhanced and generous Pension Scheme
• 30 days' paid holiday plus bank holidays
• 2 days paid volunteering days
• An extra paid Company Day in addition to paid holidays
• Excellent Learning & Development Opportunities
• Welfare and Family-friendly policies
• Enhanced pay for new parents
• Access to our Employee Assistance Programme - 24-7 Health & Wellbeing Support
• Vitality Private Medical Insurance
• Hybrid Working
• Company Service Awards
• Cycle to Work Scheme
• Company Electric Vehicle Scheme
• Nominees of the Family Friendly Employer of the Year 2022 - Personnel Today Awards 2022
• Winner of the Cultural Awareness Initiative of the Year - FT Advisors Diversity in Finance Awards 2023
• Winner of Diversity and Inclusion Award LAPF In Investments Award 2023
• Winner of LAPF Investment Innovation
• Winner of Pool of the Year 2025