Director of Compensation
Our client is a leader in their industry and has a strong commitment to their employees and community. They are seeking a Director of Compensation who will be responsible for developing, implementing and administering effective employee compensation programs. The Director of Compensation works with senior management and HR partners to ensure that compensation strategy and programs support the organization's business objectives. Additionally, this position is responsible for overseeing all aspects of payroll operations and directly supervises the staff responsible for paying associates in multiple states.
Director of Compensation responsibilities include:
- Leads periodic compensation planning cycles, providing counsel on the design, development and administration of both executive and employee compensation programs and salary structures.
- Provides both tactical and strategic support to ensure compensation programs are competitive, sustainable, have an impact on short and long-term strategic goals, and align to company compensation philosophy.
- Collects and evaluates data, preparing and delivering presentations to Senior Management.
- Partners with finance and senior leadership on the execution of bonus programs.
- Provides research and analysis on a variety of related issues; provides benchmarking, competitive intelligence, and best practice for consideration. Identifies opportunities, in collaboration with HR Partners, for innovative programs that meet the needs of a diverse population of team members across multiple geographies.
- Ensures compensation processing is compliant with policies and government regulations through audit reviews.
- Provides oversight of Retirement Plans, such as 401(k), Profit Sharing, COLI and a closed Pension Plan.
- Manages the payroll area, including staff, to ensure compliance with all federal, state and local laws and regulations as well as policies regarding payments of wages, tax withholding for US citizens, permanent residents and non-resident aliens, garnishments and employee elected deductions.
Director of Compensation requirements include:
- Bachelor’ s degree in Human Resources, Business, Finance or related degree required
- Certified Compensation Professional (CCP) preferred
- 10+ years’ experience in compensation required; compensation consulting in a Financial Services environment is preferred
- Working knowledge and experience with HR systems and business technology required, UltiPro preferred
- Demonstrated experience designing and administering compensation models and conducting pay analysis.
- Strong analytical skills with the ability to translate data and trends into key insights and recommendations; financial expertise and ability to build and manage budgets.