Director Of Compensation -- JobID #1523
Job Description - Permanent
The Director of Compensation is a head advisory role for assigned line of business on compensation philosophies, programs, policies, and plan designs. Interacts with Executives, Senior Managers, and Senior HR business partners to ensure they are enabled with prevailing and strategic compensation knowledge, programs, processes, and tools that are aligned with and effectively support the achievement of business success that will optimize the businesses spend of compensation dollars. Provide expert advice, counsel and ongoing support regarding employee compensation issues including internal/external competitiveness, program design, program effectiveness assessment, and overall governance related to company’s compensation philosophy and principles, including competitive pay for competitive performance. Design sales incentive plans and ensure the annual review, update, and communication of all plan documents. Chair sales incentive control function committees ensuring all necessary reviews and approvals are in place. Maintain current knowledge of all regulations impacting the design and administration of all compensation plans. Lead the response to regulatory requests for audits, reviews, back-testing, and explanations of adherence to regulatory requirements.
Main highlighted Responsibilities;
- Develop and direct the consulting/advisory partnership with the HR Business Partner (HRBP) executives and/or senior leaders that allows for effective assessment, development and implementation of compensation programs including base pay and incentive programs such as annual bonus, direct drive sales plans, commissions, equity, etc.
- Identifies, initiates, and leads projects to develop principles and approaches that improve the overall function of the department, this includes leading cross-functional and cross-border initiatives to simplify, unify and accelerate processes
- Directly Manages a team 5 compensation professionals and external contractors which includes as aspects of performance management and a high emphasis on coaching and development
- Strong leadership and influencing capabilities
- Expert knowledge of compensation theory, program design methodology
- Financial institutional compensation regulations and legislative requirements assigned geographies
- 10+ Years previous related experience within a financial institution
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