Position PurposeThe Head of Compensation & Total Rewards is responsible for designing, implementing, and leading the organization's overall compensation and total rewards strategy. This role ensures that compensation, benefits and equity, attract, retain, and motivate top talent while aligning with the company's business goals, values, and financial objectives.
The role requires strong strategic thinking, analytical expertise, and executive level partnership across HR, Finance, and business lines.
Position ResponsibilitiesStrategy & Leadership
- Develop and lead the organization's total rewards strategy, including compensation, benefits and equity.
- Advise senior leadership on compensation trends, pay philosophy, incentive structure and reward frameworks.
- Partners with the CHRO and Compensation Committee to ensure the Executive Compensation Strategy is competitive and operates within all regulatory guidelines.
- Manage, lead and mentor the team including conducting performance reviews within the processes of the Bank.
Compensation, Equity & Incentives
- Design and manage base salary structures, short-term incentives, and long-term incentive plans.
- Oversee annual compensation processes including salary reviews, bonus planning, and equity grants.
- Work with Sales leaders to contribute to the annual review and revision of all Bank wide sales incentive plans. Responsible for calculating incentives where needed and/or working with the analytics team to create automated tools to calculate these incentives.
- Partners with the CLO and other Sales leaders to present sales incentive plans as needed.
- Ensures all sales incentive compensation plans are aligned with regulatory guidelines.
- Ensure compensation remains competitive through market benchmarking and data analysis.
- Support and aggregate data to create Compensation Committee materials for the CHRO and participates in committee meetings as needed.
- Manage equity compensation programs including stock options, RSUs, or other long-term incentives. Works with outside compensation consultants to model out future equity needs.
- Manage the administration of the Bank's Equity plan including valuing of stock options. Work with the Finance & Accounting team to ensure they receive all necessary information on stock option and restricted stock movements as they occur.
- Overall responsibility for managing the Bank's payroll function to ensure accuracy and timely reporting to finance partners, auditors and regulatory bodies.
- Lead pay equity analysis, benchmarking reviews and pay transparency initiatives.
- Ensure compliance with all relevant compensation regulations and labor laws.
- Collaborate with Finance on compensation budgeting and forecasting.
Benefits
- Oversee company benefits strategy including health & welfare and 401k
- Ensure benefits programs remain competitive and cost-effective.
- Evaluate new benefits offerings aligned with workforce needs and industry trends.
- Oversee and manage day to day administration of company Leave programs.
- Overall responsibility for compliance matters related to Benefits.
Minimum Education & Experience- Bachelor's degree in Human Resources, Business, Finance, or related field required.
- Preferred experience within a Bank or similar financial institution.
- 10+ years of progressive experience in compensation and total rewards.
- 5+ years in a senior leadership role managing compensation strategy.
- Experience designing executive compensation equity programs and sales incentive plans.
- Experience supporting public company or fast-growing global organizations preferred.
Technical Knowledge and Skills- Microsoft office software suite including advanced experience with Excel.
- Previous experience managing payroll, benefits, compensation and HR technology, preferably with UKG.
- SOX control experience is a must.
- Strong analytical and data interpretation skills.
- Strong understanding of federal and state laws in regard to payroll, compensation and benefits including local, state and federal tax requirements.
Compensation- Base Salary Range: $150,000 - $180,000 annually. Final determination of where you are at in the salary range is based on numerous factors such as geographical location, relevant experience, skill set, education, and ability to meet qualifications within the job description.
- Additional Compensation: This role will include a yearly annual target bonus based on individual performance.
Working ArrangementsWhy Join Us?- Join a growing company with a culture that fosters an entrepreneurial spirit
- Comprehensive benefits package including Medical, Dental, Vision, Company Paid Life Insurance, Disability Insurance, and more?
- Company Contributions to your 401k - Regardless of your contribution
- Employee Perks: Paid Parental Leave, Employee Recognition Program, Leadership Program, Tuition Reimbursement Program, Employee Bank Checking Account, and much more!
- Generous Paid Time Off and Paid Holidays - Including Paid Charity Hours to support volunteer opportunities
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