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Reward Analyst - Insurance

Reward Analyst - Insurance

Requisition ID 
Job Locations 
Job Family 
Performance, Reward and Talent

Posting Description

Reward Manager – Insurance (McLagan, London, UK)

We’re hiring!


McLagan are currently recruiting a Reward Manager specialising in Insurance to join our team in London. The Insurance Reward Manager will be primarily responsible for providing reward benchmarking and consulting services to UK and European organisations. 


About McLagan

McLagan, a division of Aon Hewitt, is the leading provider of analytical performance reports, reward studies and consulting to the world’s top financial services firms. Focusing exclusively on the financial services industry for over forty years, McLagan serves clients across investment banking, asset management, corporate banking, private equity and private client businesses. McLagan’s highly skilled consultants deliver fact-based guidance to financial services firms helping them enhance productivity and profitability by optimizing revenue and cost drivers. More information about our firm is available at


Our belief is that accurate market data is a requirement for aligning resources with opportunities. Market data identifies business opportunities and market opportunities for talent and products. Our goal is to provide complete and accurate data coupled with insights to help management interpret market trends in context and apply them to improve business results.

Our business model is based on creating and expanding long-term partnerships with our clients, who trust us with some of their most confidential and sensitive information. As evidence of this, many of our client relationships extend back to our firm’s inception over forty years ago.


McLagan’s clients benefit from our in-depth financial services focus, general management perspective, experienced consultants on every assignment, seamless and integrated global services and integrity and discretion in all matters.


About the Role


As an Insurance Reward Manager for our McLagan business you will have a specific focus on insurance (life, non-life and specialty) and you will be responsible for compiling the leading cost benchmark for the insurance industry - covering headcount and expenses.



The main areas of responsibility will be:


You will be responsible for providing advisory and consulting services to our clients and reward design activities.

Working with financial controllers and directors at various insurers to review the cost, headcount, and revenue data.

Mapping cost, headcount, and revenue data onto the standard insurance structure.

Delivering the insurance results to strict deadlines to the relevant support group heads (IT, Operations, Finance, Risk, and HR etc.) within insurers.

Working with members of the team and client contacts to present results and draw conclusions.

Producing bespoke reports through the manipulation and analysis of data stored in the data warehouse.

Improve the product and build the business.


Responsibility for working in accordance with the Aon UK Limited Risk Management Framework, and compliance with the Aon UK Limited policies, including participation in the management of risks (including completion of mandatory training) that may adversely affect the business, interests or reputation of any Group Company.


About you


You will have experience of building significant relationships ideally with clients within the insurance industry or consulting sector.

You will have strong technical Reward expertise and you will be looking to utilise those skills in a consultative environment that will deliver revenue opportunities for the McLagan Insurance team.

You will have excellent data analytics skills.

You will be degree qualified ideally within a numerate discipline.



Salary and Benefits


This role offers a competitive salary plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare, childcare vouchers and additional holiday.


We’re happy to talk flexible working. If you need to flex your working pattern, Aon offers flexible and agile working policies and we’re happy to discuss options with you upon application.

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