TOP SKILLS / EXPERIENCE:
5 to 7 years of experience within compensation
Prior experience with compensation design
Prior experience creating budget for year end compensation
Prior experience with relationship management (HRBP and Senior executives)
Managing a year end compensation plans
Prior experience designing bonus plans for sales and commission individual
Strong knowledge of Compensation Survey Methodology and processes and the linkage to Organizational Design and Job Evaluation principles and practices
Knowledge of regulatory and statutory requirements related to compensation for both federal, provincial and state jurisdictions as applicable
Must have knowledge/ have designed compensation plans for sales incentive compensation plans and philosophy enterprise-wide as well as pay practices (including an understanding of specialized incentive or commission plan design) in order to advise and counsel HR Business Partners and other contacts appropriately
NICE TO HAVE SKILLS/EXPERIENCE:
Prior banking/FI experience
Strong relationship management
University degree/college diploma or equivalent work experience
RESPONSIBILITIES INCLUDE (but are not limited to):
Provide advice, counsel and ongoing support regarding employee compensation issues including internal/external competitiveness, program design, program effectiveness assessment, and overall governance related to client’s compensation philosophy and principles, including competitive pay for competitive performance.
Provide direct support to the Senior Manager, Compensation for assigned Banking Group(s), which involves direct relationship management for a sub-set of an assigned business group.
Contribute to the effectiveness of the year-end incentive pay process, which may involve determining competitive incentive pools for both cash and equity programs and validating that incentive pay spend is appropriate for given performance levels.
Develop, maintain and continually expand a good working knowledge of the business strategy of assigned client groups, of general industry knowledge, of internal and external market compensation information on various topics such as compensation trends, organization design approaches, role definition, performance management, and legal and regulatory requirements, of total compensation programs and approaches across the enterprise, including executive programs, equity programs, benefits and pension ensuring ongoing communication among the Compensation team and with other Rewards and HR Operations (PR&O) departments with a view towards ensuring a total compensation approach is considered and market business trends in order to provide effective consultation to client groups
Use market and business knowledge, in conjunction with client compensation principles and policies, to assess the implication of market trends on client groups, to identify compensation issues and opportunities.
Uses subject matter expertise to recommend base pay budgets or approaches to base pay management, incentive program assessment including the competitive positioning of current incentive plan designs.
Lead projects regarding the design and development of compensation programs for a sub-set of clients in assigned Banking Group(s) including:
Partners with appropriate internal and external resources to ensure that all designed programs, plan documentation and communications meet assigned Banking Group(s) requirements.
On internal projects, effectively communicates data and/or modelling requirements to the Manager, Market Analytics to ensure delivery of information necessary for effective program design
When using an external consultant, manages the service provider relationship to ensure successful project completion.
Ensure governance review of all compensation programs
Assess whether compensation programs and practices comply with client’s compensation principles and policies, required Control Function reviews, as well as legislative and regulatory requirements and elevate any issues to the Senior Manager, Compensation and/or the appropriate Banking Group(s) representative.
Confirm that incentive pool funding is accurately forecast.
Develop and maintain effective internal working relationships with other senior members of the Compensation & Performance Management (CP&M) team to develop principles and approaches to market assessment and program design and continually improve the overall function of the department
Respond to inquiries from HR Business Partners. Proactively identify and escalate to the Senior Manager, Compensation any issues identified that present risks or opportunities to the organization.
Accountable for the due diligence and integration activities for any Strategic Alliance initiatives for an assigned Banking Group(s).
Work directly with the Compensation Market Analytics team, providing coaching for the development of team members skills, to obtain, compile and vet for reasonableness market compensation data for all non-executive levels and types of roles within assigned business groups.
Performs additional accountabilities assigned dependent upon client group, special projects, geographic location, and enterprise-wide project requirements.
|Application Deadline||November 10, 2017|
|Experience Required||5+ years|
|Job Duration||6 months|