Compensation Controller

M

Marex

Compensation Controller

New York, NY
Full Time
Paid
  • Responsibilities

    Diversified. Resilient. Dynamic.

    Marex is a global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.

    The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a major franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world's major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.

    With more than 35 offices around the globe, and over 2,300 dedicated people enabling access to exchanges and technology-powered services.

    For more information visit www.marex.com

    Purpose of Role:

    The US Compensation Controller will ensure consistent reporting of employee expenses across the group. The role is the interface between Finance and HR and the owner of accounting policies and controls relating to employee expenses. In collaboration with the Group Compensation Controller based in London, the role will lead the strategic direction and drive the execution of Marex's global compensation management process. In doing so, the postholder will ensure that all employee costs are monitored, recorded and reported correctly.

    The role will partner with HR and the Group Compensation Controller to develop appropriate MI to forecast overall employee cost for the US group in order to meet CEO reporting requirements and will also work closely with senior leaders and stakeholders across the business to help drive informed decisions on employee costs relating to acquisitions.

    The US Compensation Controller will work closely with the owner of accounting policies to provide expert advice on how employee compensation expenses should be accounted for in the most effective way in the US.

    Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights and analytics

    Responsibilities:

    Financial Controls

    • Owner of accounting policies relating to employee expenses (IFRS2, IFRS7/IAS19 and US GAAP equivalents). Work with accounting policy owner to agreed interpretation and financial controllers to agree implementation.
    • Owner of chart of accounts for employee expenses.
    • Variable pay accrual process owner for both current year awards and prior year deferred awards.
    • Group SOX process owner for variable pay and deferred equity, ensure compliance within the group and by service providers. **
      **

    Cost Control

    • Work with HR to review employee expenses and provide reporting to allow monitoring
    • Linking salary expenses to headcount reporting.
    • Sizing the variable pay pool to meet business performance.
    • Reviewing other employee benefits with HR to ensure all costs are captured accurately.

    Management Reporting

    • Forecasting of employee expenses by business (fixed pay, variable pay, employer taxes, recruiting incentives, severance and other benefits)
    • Providing guidelines and templates for AOP process.

    Other

    • Partner with tax to ensure process guidelines and chart of accounts allow for accurate tax reporting.
    • Provide scenario analysis for stress testing
    • Undertaking an on-going review of processes relating to compensation reporting with a specific focus on the determination and reporting of front office bonuses.
    • Preparing reports on compensation expense, by business/function/region/country as requested
    • Identify opportunities to make efficiencies to the management of compensation expense and offer solutions to issues that arise.
    • Supporting the Deputy Chief Financial Officer and the Chief Financial Officer on assessing the financial reporting and cost impact of new compensation initiatives and new benefits that may be developed from time to time.
    • Ensuring compliance with the company's regulatory requirements under the SEC, FINRA, NFA, CFTC and other applicable exchanges.
    • Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
    • Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values
    • At all times complying with Marex's Code of Conduct
      • To ensure that you are fully aware of and adhere to internal policies that relate to you, your role or any other activities for which you have any level of responsibility
      • To report any breaches of policy to Compliance and/ or your supervisor as required
      • To escalate risk events immediately
      • To provide input to risk management processes, as required.

    The Company may require you to carry out other duties from time to time.

    ** Competencies, Skills and Experience:**

    ** **Competencies

    • Demonstrates curiosity
    • Resilient in a challenging, fast-paced environment
    • Ability to take a high level of responsibility in a fast pace and high-volume environment
    • Excels at building relationships, networking and influencing other
    • Ability to communicate effectively and professionally, both orally and in writing, with all organizational levels.
    • Ability to organize, manage, and track multiple detailed tasks and assignments with frequently changing priorities
    • Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness

    ** Skills and Experience** ****

    • Bachelor's degree in accounting or finance or related field.
    • A subject matter expert and proven track record of developing a compensation control framework suitable for a growing business.
    • The position requires an individual who is proficient at working in a fast-paced environment.
    • Experience delivering companywide compensation expense analysis.
    • Experience working within financial institutions in a mid-senior Finance role.
    • Extensive cost accounting knowledge including as it relates to incentive compensation.
    • Able to problem solve and demonstrate operational as well as strategic skill.
    • Confident in challenging the status quo.
    • Self-motivated and resilient – thrives within a high-pressure environment where there is constant change.
    • Demonstrates curiosity by listening and asking to inspire innovation.
    • Excellent numerical, written and verbal communication skill.
    • Excellent business acumen.
    • Proven stakeholder management experience as a commercial, credible and assertive subject matter expert with ability to influence at all levels
    • Experience of portraying complex issues and problem-solving initiatives in a 'user friendly' format, together with supporting processes and procedures
    • Experience of building trusted relationships across the business
    • Approachable, resilient, and able to juggle multiple competing priorities

    Salary Range: $120,000 to $150,000 per year and eligible for discretionary bonus.

    Marex Benefits for 2025

    Company Values

    Acting as a role model for the values of the Company:

    Respect

    – Clients are at the heart of our business, with superior execution and superb client service the foundation of the firm. We respect our clients and always treat them fairly.

    Integrity
    – Doing business the right way is the only way. We hold ourselves to a high ethical standard in everything we do – our clients expect this and we demand it of ourselves.

    Collaborative
    – We work in teams – open and direct communication and the willingness to work hard and collaboratively are the basis for effective teamwork. Working well with others is necessary for us to succeed at what we do.

    Developing our People
    – Our people are the basis of our competitive advantage. We look to “grow our own” and make Marex the place ambitious, hardworking, talented people choose to build their careers.

    Adaptable and Nimble
    – Our size and flexibility is an advantage. We are big enough to support our client's various needs, and adaptable and nimble enough to respond quickly to changing conditions or requirements. A non-bureaucratic, but well controlled environment fosters initiative as well as employee satisfaction.

    Marex is fully committed to the elimination of unlawful or unfair discrimination and values the differences that a diverse workforce brings to the company.

    We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by the law.

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