The Lead Compensation Business Partner serves as the trusted compensation advisor to assigned business units, combining deep compensation subject-matter expertise with an embedded, ongoing advisory relationship with business leaders. This role designs and applies pay strategy, market pricing, and pay equity practices to real-time business decisions, including offers, promotions, and organizational changes, and is recognized as a subject matter expert sought after by leadership to weigh in on complex compensation matters. The Lead Compensation Business Partner partners closely with Human Resources Business Partners, Talent Acquisition, Finance, and business-unit leaders to ensure compensation decisions are competitive, equitable, and aligned with both business objectives and regulatory requirements. This role manages significant projects and initiatives independently, with limited oversight, and influences compensation policy and practice both within and beyond the Human Resources function.
Position SummaryThe Lead Compensation Business Partner serves as the trusted compensation advisor to assigned business units, combining deep compensation subject-matter expertise with an embedded, ongoing advisory relationship with business leaders. This role designs and applies pay strategy, market pricing, and pay equity practices to real-time business decisions, including offers, promotions, and organizational changes, and is recognized as a subject matter expert sought after by leadership to weigh in on complex compensation matters. The Lead Compensation Business Partner partners closely with Human Resources Business Partners, Talent Acquisition, Finance, and business-unit leaders to ensure compensation decisions are competitive, equitable, and aligned with both business objectives and regulatory requirements. This role manages significant projects and initiatives independently, with limited oversight, and influences compensation policy and practice both within and beyond the Human Resources function.
Primary ResponsibilitiesBusiness-Unit Compensation Advisory- Serve as the primary, embedded compensation advisor for assigned business units, providing ongoing guidance on pay decisions, including new hire offers, promotions, and internal transfers.
- Partner with business-unit leaders, Human Resources Business Partners, and Talent Acquisition to translate compensation philosophy and market data into practical, business-ready recommendations.
- Present compensation recommendations and rationale to business-unit leaders in a way that secures alignment and adoption.
- Look past a business leader's initial pay request to identify the underlying retention, equity, or organizational-design need driving it, and recommend the solution that actually addresses it.
Compensation Strategy & Design- Design and administer base pay structures, incentive plans, and market pricing strategies for assigned business units, ensuring pay is competitive, equitable, and aligned with business objectives.
- Develop pay recommendations for new or evolving roles where no established market benchmark or internal comparator exists.
- Participate in the design and evolution of firmwide compensation programs, structures, and guidelines, representing the perspective of assigned business units.
- Support the annual merit, bonus, and equity planning cycles for assigned business units, including modeling, budget guidance, and manager education.
Analysis, Compliance & Reporting- Analyze market survey data, internal pay equity metrics, and workforce trends to inform compensation recommendations.
- Leverage the HRIS and compensation planning tools to model pay scenarios, run merit and bonus cycles, and generate compensation reporting for business leaders.
- Ensure pay decisions and communications comply with pay equity, pay transparency, and wage-and-hour regulations across applicable jurisdictions.
- Draft compensation communications, band and offer justifications, and program rollout materials for business-unit leaders and colleagues.
Cross-Functional Collaboration- Coach, review, and delegate work to less-experienced compensation and HR colleagues on assigned projects, without direct supervisory responsibility.
- Partner with Talent Acquisition on offer pricing and with HR Business Partners on organizational design and workforce planning implications for pay.
- Partner with Finance to deliver compensation analytics, workforce modeling, and forecasting for annual reward cycles.
- Report progress and recommendations on significant compensation initiatives to senior HR and business leadership.
- Identify opportunities to improve compensation processes, tools, and guidance materials for the business units supported.
Required Knowledge & Experience- Strong knowledge of compensation program design, including base pay structures, incentive plans, and market pricing methodology.
- Strong knowledge of pay equity, pay transparency, and wage-and-hour regulatory requirements.
- Experience advising business leaders directly on compensation decisions in an embedded or business-partner capacity.
- Proficiency with HRIS and compensation planning or market-pricing tools.
- Knowledge of insurance brokerage or financial services compensation practices, including production-based or incentive-eligible roles, preferred.
- Demonstrated ability to analyze data and translate findings into clear, actionable recommendations for non-technical audiences.
- Strong analytical, critical-thinking, and problem-solving capabilities.
- Excellent communication and stakeholder management skills, including the ability to influence senior business leaders.
- Strong organizational and project management skills, with the ability to apply exceptional stakeholder management for multiple business units and initiatives concurrently.
- Commitment to confidentiality, discretion, and sound judgment when handling sensitive pay information.
Qualifications- Bachelor's degree in human resources, business administration, finance, or a related field required; equivalent combination of education and experience considered.
- 6-8 years of progressive experience in compensation, total rewards, or a related human resources discipline required.
- Experience serving as a compensation advisor or business partner to business-unit leaders preferred.
- Professional certification such as Certified Compensation Professional (CCP) or SHRM Certified Professional (SHRM-CP) preferred.
- Experience within insurance brokerage or another regulated financial services industry preferred.
- Proficiency in Microsoft Office Suite, particularly Excel, and experience with HRIS platforms (e.g., Workday) required.
- Ability to travel occasionally, up to approximately 10%, to support business-unit and leadership engagement preferred.
Skills & BehaviorsFunctional/Technical Skills- Total Rewards & Compensation: Designs and administers base pay, incentive, and market pricing recommendations for assigned business units, ensuring pay stays competitive, equitable, and aligned with business objectives.
- Data Analysis: Analyzes market survey data, internal pay equity metrics, and workforce trends to build recommendations business leaders can act on.
- HRIS & People Analytics: Uses the HRIS and compensation planning tools to model pay scenarios, run merit and bonus cycles, and produce reporting for business leaders.
- Business Writing: Drafts compensation communications, band and offer justifications, and program rollout materials for business-unit leaders and colleagues.
- Needs Assessment: Looks past a business leader's initial pay request to identify the underlying retention, equity, or organizational-design need, and recommends the solution that actually addresses it.
- Compliance & Governance: Ensures pay decisions and communications comply with pay equity, pay transparency, and wage-and-hour regulations across applicable jurisdictions.
Behaviors- Earns Trust: Handles sensitive compensation data, including individual pay decisions, with discretion and integrity that keeps business leaders and colleagues confident in every recommendation.
- Client Focus: Serves as the trusted compensation advisor for assigned business units, delivering recommendations that balance business needs with pay equity and market competitiveness.
- Gets Buy-In: Presents compensation recommendations and rationale to business-unit leaders in a way that secures alignment and adoption.
- Intentional Communication: Translates compensation philosophy, market data, and pay structures into clear guidance that business leaders without a compensation background can act on.
- Navigating Uncertainty: Develops pay recommendations for new or evolving roles where no established market benchmark or internal comparator exists.
IMPORTANT NOTICE: This position description is intended to describe the level of work required of the person performing in the role and is not a contract. The essential responsibilities are outlined; other duties may be assigned as needs arise or as required to support the organization. All requirements may be subject to reasonable accommodations to applicants and colleagues who need them for medical or religious reasons.
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