Broker Compensation Manager

The TP ICAP Group is a world leading provider of market infrastructure.

Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions.

Through our people and technology, we connect clients to superior liquidity and data solutions.

The Group is home to a stable of premium brands. Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the world’s leading provider of OTC data, and an award winning all-to-all trading platform.

Founded in London in 1866, the Group operates from more than 60 offices in 27 countries.  We are 5,200 people strong.  We work as one to achieve our vision of being the world’s most trusted, innovative, liquidity and data solutions specialist.

Role Overview

The Broker Compensation Manager sits within the Business Unit Control team and will be responsible for the end-to-end management, reporting, and delivery of the Broker Compensation process across all brands and asset classes within the EMEA region. This role combines technical accounting, operational oversight, and process improvement, with a strong emphasis on driving efficiency, enhancing reporting, and ensuring robust balance sheet substantiation.

The successful candidate will lead a team of compensation specialists, partner closely with Finance, IT, and Front Office stakeholders, and play a pivotal role in advancing automation initiatives to strengthen controls, reduce manual dependencies, and provide strategic insights to senior leadership.

Key Responsibilities

Team Leadership & Oversight

• Manage and supervise the EMEA Broker Compensation team, including setting performance objectives, providing coaching and training, and delivering regular reporting.

• Foster a culture of accountability, collaboration, and continuous improvement within the team.

Broker Compensation Management

• Oversee the end-to-end Broker Compensation process across all brands and asset classes.

• Calculate and account for variable broker bonuses in line with contractual agreements.

• Manage distribution of compensation statements to Front Office and Payroll in accordance with payment cycles.

• Calculate and record broker equity deferrals, ensuring compliance with relevant policies.

Process Improvement & Automation

• Lead the Broker Compensation automation project to enhance efficiency, strengthen controls, and reduce risk.

• Collaborate with Finance, IT, and Business stakeholders to design and implement sustainable solutions.

• Ensure all processes are clearly documented, regularly reviewed, and continuously optimised.

Financial Control & Reporting

• Coordinate preparation and review of balance sheet reconciliations, ensuring full substantiation of the general ledger.

• Reconcile balances to underlying calculations and supporting documentation.

• Provide analysis and insights on Front Office Broker Compensation by business line and entity, supporting senior stakeholders with actionable intelligence.

Budgeting & Forecasting

• Contribute to the preparation of annual budgets and forecasts for P&L and balance sheet.

• Analyse key changes in broker compensation and provide clear commentary to Finance and the Business.

Risk & Compliance

• Ensure an effective risk and control framework is embedded within processes.

• Maintain adherence to Group Accounting Policies and the Expenditure Control Framework.

• Support the year-end audit process, ensuring timely provision of high-quality documentation and explanations.

Stakeholder Engagement

• Build strong working relationships across Finance, Front Office, IT, and other business stakeholders.

• Act as a trusted partner, providing clear communication and expert guidance on compensation-related matters.

Experience & Competencies

Essential

• Qualified Accountant (ACA, ACCA, CIMA) with significant post-qualification experience.

• Proven track record within the financial services sector, ideally in broker-dealer, trading, or capital markets environments.

• In-depth knowledge of control frameworks and balance sheet substantiation.

• Demonstrated leadership experience with the ability to manage, mentor, and develop high-performing teams.

• Advanced proficiency in Excel and financial applications such as Oracle, SmartView/ASO, Hubble, or OneStream.

• Proven experience delivering system and process improvements, particularly in automation and control enhancement.

• Demonstrated analytical and problem-solving skills with meticulous attention to detail.

• Excellent written and verbal communication skills, with the ability to engage stakeholders at all levels.

• Highly organised, resilient, and adaptable, with the ability to manage multiple priorities in a fast-paced environment.

Desired

• Direct experience in broker compensation or variable pay accounting.

• Familiarity with compensation deferrals, equity schemes, and related regulatory requirements.

• Proven commercial acumen and ability to link financial insights with business performance.

• Experience in leading large-scale transformation projects within Finance or Operations.

• Exposure to international environments, with an appreciation of regional differences in compensation practices.

Band & Level

• Manager / 6

#LI-MID #LI-Hybrid

Not The Perfect Fit?

Concerned that you may not meet the criteria precisely? At TP ICAP, we wholeheartedly believe in fostering inclusivity and cultivating a work environment where everyone can flourish, regardless of your personal or professional background. If you are enthusiastic about this role but find that your experience doesn't align perfectly with every aspect of the job description, we strongly encourage you to apply. You may be the ideal candidate for this position or another opportunity within our organisation. Our dedicated Talent Acquisition team is here to assist you in recognising how your unique skills and abilities can be a valuable contribution. Don't hesitate to take the leap and explore the possibilities. Your potential is what truly matters to us.

Company Statement

We know that the best innovation happens when diverse people with different perspectives and skills work together in an inclusive atmosphere. That's why we're building a culture where everyone plays a part in making people feel welcome, ready and willing to contribute. TP ICAP Accord - our Employee Network - is a central to this. As well as representing specific groups, TP ICAP Accord helps increase awareness, collaboration, shares best practice, and holds our firm to account for driving continuous cultural improvement. 

Location

UK - 135 Bishopsgate - London