Director, Compensation & Benefits JOB SUMMARY:
Responsible for actively participating in the strategic plan design of all compensation and benefit plan design, and overseeing the implementation, administration, compliance, and communication of all related programs. This role serves as the subject matter expert for total rewards, including mortgage and bank incentive compensation programs, ensuring alignment with organizational strategy, financial performance, and regulatory requirements. The position partners with leadership to develop competitive, cost effective programs that support the Bank's ability to attract, engage, and retain top talent.
Director, Compensation & Benefits ESSENTIAL FUNCTIONS (RESPONSIBILITIES):
* Participates in directing the design, implementation, and administration of all compensation programs, including base salary structures, incentive compensation, and commission plans, ensuring alignment with market competitiveness and organizational performance objectives.
* In coordination with the lines of business, leads the development, analysis, and oversight of mortgage commission and incentive compensation plans; includes maintaining a comprehensive understanding of plan structure, profitability drivers, and alignment with production, margin, and net contribution.
* Develops and maintains expertise in bank compensation programs, including incentive plans for retail, lending, and corporate functions, ensuring consistency, competitiveness, and alignment with business strategy and risk management objectives.
* Prepares and delivers reporting and analysis on mortgage and incentive compensation plans, including cost impact, profitability alignment, and performance outcomes, providing insights to leadership to support decision-making.
* Directs the implementation, and administration of all employee benefits programs, including health and welfare, retirement, and ancillary benefits, ensuring programs are competitive, cost-effective, and aligned with employee needs.
* Ensures all compensation and benefits programs comply with applicable federal, state, and local regulations, including ERISA, FLSA, ACA, and HIPAA.
* Develops and maintains strong working relationships with leadership and department leaders, providing guidance on compensation decisions, incentive plan design, and workforce planning.
* Partners with lines of business leadership to evaluate and manage compensation plan effectiveness, ensuring alignment with financial objectives, cost management, and organizational performance.
* Researches industry trends and best practices, and recommends enhancements to compensation and benefits programs to support continuous improvement while ensuring effective communication of total rewards programs to employees.
* Exercises awareness with regard to possible suspicious activity, money laundering or fraudulent behavior and reports any such incidents to the BSA department. Performs all job functions in compliance with all company policies and federal, state, and local laws and regulations as applicable to the position, including, but not limited to BSA/AML, OFAC and GLBA/privacy rules.
* Performs related responsibilities as required or assigned.
Director, Compensation & Benefits REQUIRED QUALIFICATIONS:
Knowledge/Skills/Abilities
* Advanced knowledge of compensation & benefit program design, including mortgage and banking incentive compensation structures
* Advanced analytical skills with ability to interpret financial, compensation, and performance data
* Understanding of regulatory requirements related to compensation and employee benefits
* Strong business acumen with ability to align compensation strategies to financial performance
* Excellent communication and relationship management skills
* Ability to manage multiple priorities and partner across business units
* High level of integrity, confidentiality, and sound judgment
* Advanced proficiency in Microsoft programs, reporting, analytics and AI tools
* Exemplifies the Gateway Values: Growth Oriented, Make a Difference, "Get it Done" Attitude, Team Player, Do the Right Thing.
Equivalent Education/Experience
* Bachelor's degree in Human Resources, Business, Finance, or related field required
* 10 years of progressive experience in compensation and/or benefits
* Experience with mortgage and/or banking compensation plans strongly preferred
* Professional certifications (e.g., CCP, CEBS, SHRM-CP/SCP) preferred
Director, Compensation & Benefits SPECIAL JOB DIMENSIONS:
None.
NOTE: The essential job functions and associated qualifications contained in this document describe the general nature and level of the work performed. They are not intended to represent an exhaustive listing or be inclusive of all aspects of the job. The tasks and procedures involved in the performance of the essential job functions may vary from day-to-day. Major changes in areas of responsibility may occur, as directed by management, and will require revision of this job description.
