Carried Interest Plans Manager

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Job Description At abrdn, enabling our clients to be better investors drives everything we do. Through the expertise, insight, and innovation of our team, we aim to help clients create more ways for money to...

Job Description

At abrdn, enabling our clients to be better investors drives everything we do.

Through the expertise, insight, and innovation of our team, we aim to help clients create more ways for money to make an impact. We set our sights on giving them more confidence to achieve their goals, and more clarity about what they need next. And we focus on delivering outcomes that are more than just financial – by investing responsibly to build a better world.

The Global Reward Team sits in abrdn's HR function and is responsible for developing and embedding a compensation and recognition framework that attracts, motivates and retains employees.

Reporting to the Global Head of Reward, the Carried Interest Plans Manager will be responsible for the management of Carried Interest Plans for our Private Markets businesses.

Through a number of methods such as benchmarking, analysing market best practice and understanding our Private Markets businesses, this role will manage the application and review of the philosophy and design parameters for Carried Interest Plans. The role will be responsible for partnering with the business in the development and implementation of new plans, the management of ongoing plans including maintenance of plan data (joiners, leavers and associated reallocations) and the plan maturity process. The role holder will work closely with the Private Markets businesses globally. The role will be required to ensure policy and practice meet legal and regulatory requirements and will be responsible for ongoing plan reporting.

Key Accountabilities:

Carried Interest philosophy and design parameters: Overseeing and applying the strategy and approach to Carried Interest policy, aligning to Company remuneration principles and compliant with relevant legal and regulatory requirements. The role will be accountable for ensuring adequate risk management takes place.

Management of Carried Interest Plan processes: Managing processes and key performance indicators to support the business in the creation, governance and delivery of Carried Interest Plans. The role will be accountable for ensuring robust process controls and the documentation and maintenance of key processes, establishing ownership and compliance at each stage, working closely with colleagues in our Tax function.

Tracking existing plan arrangements: Working with the Private Markets businesses to catalogue existing plans and participation in a single source register.

Activities required to perform in this role:

  • Carried Interest Policy: Keep closely aligned to business, external market and regulatory developments in order to oversee Carried Interest philosophy and design parameters that meet required objectives for abrdn and the Private Markets business. Engage closely with the Private Markets businesses and regional HR functions to ensure consistent application of the philosophy and design parameters and associated governance as appropriate. Work with the Global Head of Reward and with other abrdn colleagues and external advisers as required, to maintain, interpret and apply Policy consistently.

  • Carried Interest processes: Manage the structure, standards and governance for Carried Interest Plan management in conjunction with the business and the wider HR function and with other abrdn colleagues and third-party suppliers as appropriate. Identify and escalate concerns and risks that cannot be managed within the role.

  • Ongoing plan lifecycle maintenance: Maintain plan records including key milestone activity and participation data and the issue and review/maintenance of plan documentation as appropriate. Work with business managers and leaders to identify and rectify any gaps in central plan records.

  • Ensuring legal and taxation compliance: Working with internal legal and tax experts to ensure that legal, tax and regulatory requirements are met and that plan documentation is fit for purpose from a legal, taxation and regulatory perspective.

  • Ad-hoc activity: Support the Carried Interest-related requirements of any ad-hoc programmes or corporate actions including acquisition or disposal of Private Markets businesses, working as part of multi-function teams within and beyond HR.

Essential candidate requirements:

  • Proven experience of involvement in the creation and management of Carried Interest Plans including familiarity with plan or other legal documentation and ideally with the grant and maturity process

  • Awareness of how the Private Markets strategy can be supported through the implementation and management of effective Carried Interest arrangements

  • Sound numerical, analytical and data management skills with strong attention to detail

  • Strong Microsoft Excel, Word and PowerPoint skills

  • Proactive and comfortable working independently

  • Results orientated with the ability to manage multiple competing priorities

Desirable:

  • Project and process management experience

  • Exposure to robust risk management processes

  • Experience of report writing for senior audiences

  • Relationship management including building relationships with influencing senior stakeholders

  • Awareness of wider Reward frameworks is desirable

We are proud to be a Disability Confident Committed employer. Therefore, if you have a disability and would like to submit an application to one of our UK roles under the Disability Confident Scheme, please notify us by completing the relevant section in our candidate questionnaire and one of our team will reach out to support you through your application process.

Our Benefits

There's more to working life than coming home with a good salary. We have an environment where you can learn, get involved and be supported. 

When you join us, your reward will be one of the best around, including 40 days annual leave, a 16% employer pension contribution, a discretionary performance-based bonus (where applicable), private healthcare and a range of flexible benefits including gym discounts, season ticket loans and access to an employee discount site amongst many others. You can read more about our benefits here.

We’re committed to providing an inclusive workplace where all forms of difference are valued and which is free from any form of unfair or unlawful treatment.  We define diversity in its broadest sense – this includes but is not limited to our diversity of educational and professional backgrounds, experience, cognitive and neurodiversity, age, gender, gender identity, sexual orientation, disability, religion or belief and ethnicity and geographical provenance.  We support a culture that values meritocracy, fairness and transparency and welcomes enquiries from everyone.

If you need assistance or an adjustment due to a disability please let us know as part of your application and we will assist.

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