Officer position responsible for the direction and management of the company's compensation function including the planning, design, development, and implementation of compensation programs including job evaluation, wage & salary management programs, annual & long-term incentive programs, equity compensation plans, deferred compensation plans, and perquisites.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
- Implements strategic objectives with significant impact on the short-term success of broad-based and executive compensation programs.
- Directs and manages design planning administration communication and processing of all aspects of the compensation program for the company. Oversees and directs administration of long-term Incentive cash plan stock option restricted stock stock purchase plan and special deferral supplemental retirement programs and employment contracts for officers. Also responsible for overseeing ex-pat compensation administration.
- Supports the development of the Incentive Compensation Committee meeting materials.
- Leads large business-specific and/or corporate-wide compensation projects and on-going initiatives such as the rollout of new short or long-term compensation plans market pricing and job evaluation.
- Oversees and directs all relevant regulatory/compliance activities and company exposure related to compensation including but not limited to tax accounting legal matters financial reporting governance regulatory issues and trends.
- Maintains effective working relationships with senior business leaders across human resources legal tax and accounting functions. Works with outside consultants to ensure cost-effective services.
- Leads directs and has full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with corporate strategic direction.
May perform additional duties as assigned.
Typically VP and above
Skills Knowledge and Abilities
- In-depth technical knowledge of compensation theories and principles compensation program design (including base annual and long-term incentives executive compensation relevant tax accounting legal and regulatory issues) as well as other reward plans HR and compensation applications and broad understanding of the critical issues in other related areas such as executive compensation human resources theories and applicable laws.
- Ability to effectively communicate with all levels of external and/or internal business partners within scope of responsibility team and/or matrix environment.
- Leadership and management skills demonstrating integrity and professionalism.
- Ability to drive results by identifying and resolving significant problems within scope of responsibility.
- Knowledge of the insurance industry its products and services.
- Knowledge of Microsoft Office Suite and other business-related software.
Education and Experience
- Bachelor's degree with Master's preferred in business finance human resources or a related discipline or equivalent.
- Typically a minimum of ten years of related compensation work experience with five years management experience. Experience should include design development and implementation of short and long-term incentive programs.
- Applicable certifications preferred i.e. Certified Compensation Professional (CCP).