National Grid is hiring an Executive Pay Manager. The hybrid role can be located in either our Brooklyn, NY, Boston, MA or Waltham, MA office.

Job Purpose

Support the ongoing design, development and implementation of total Reward frameworks for the 'Executive' Population to ensure the Company is able to attract, retain and incentivise colleagues. Manage all Global Mobility arrangements ensuring policies, processes and third-party contractual arrangements are fit for purpose.

Key Accountabilities
• Act as a trusted advisor to Chief People Officers and business leaders on sensitive and confidential matters relating to external recruitment, internal moves, retention awards and exits associated with this population.
• Manage the join to leave process for the executive population (that entails compensation proposals, term sheets, offer letters, side letters or separation agreements as required) including new joiners, internal movements (lateral or promotions) and leavers.
• Calculate reward packages for all external offers/internal moves and produce term sheets and contract/offer documentation. Perform complex buyout valuations of the incentives (includes both equity share plans such as performance shares, restricted shares, share options among others and cash based plans) external candidates will forfeit upon leaving their prior employer and use this to calculate appropriate 'buy-out' awards.
• Liaise with the legal counsel and tax advisors to support issues arising during the join to leave process.
• Act as the Executive Pay lead in the annual compensation cycle process
• Ensure an extensive understanding of the full range of complex incentive plans (Annual Performance Plan, Long Term Performance Plan) to be able to work with the wider Executive Pay team on the administration of these plans and to respond to complex queries from plan participants and senior stakeholders.
• Ensure reward guidelines relating to the join to leave process (such as buyout principles) are developed, documented and reviewed regularly based on lessons learned and best practice.
• Ensure all reward arrangements for this population are fully documented, understood and implemented accurately and on-time (for example buy-out awards, retention payments, incentive plan commitments, and severance payments).
• Identify innovative or improvement opportunities that enhance the quality of, decrease the cost of, and reduce time to complete Executive Reward processes under the scope of the team; this includes exploring new tools and processes to digitize and automate the processes. Share plan management
• Implement and administer the share plan strategy, policy, and administration, including discretionary longterm incentive plans and all-employee share plans in the US and the UK.
• Project manage and administer the Sharesave and Share Incentive Plan (SIP) in the UK, overseeing plan launches and maturities, maintaining files with Equiniti, and serving as the point of contact for any Sharesave or SIP queries.
• Manage and administer all discretionary share plans, including the Restricted Award Plan (RAP) and the LongTerm Performance Plan (LTPP). For RAP, execute the quarterly award and vesting process, provide guidance to HRBPs/managers on retention strategies, ensure governance requirements are met, update plan rules and guides, manage early leaver vestings, and handle RAP-related queries. For LTPP, manage the bi-annual award and annual vesting process, conduct data checks, produce plan communications, ensure governance compliance, update plan rules and guides, manage early leaver vestings, and address LTPP-related queries. People management
• Lead a highly motivated, capable and innovative team, developing talent and a performance management culture in order to drive value through staff engagement and holding people to account. Vendor management
• Accountable for sourcing, implementing and managing third party providers required to support Global Mobility arrangements.
• Appointing vendors through the Strategic Sourcing process ensuring contracts balance cost effectiveness, process efficiency and colleague experience.
• Implementation of any new service providers including the management of any internal stakeholder relationships.

Qualifications
• Demonstrable experience in Reward management, Executive Pay and Global Mobility.
• Experience of developing and implementing Reward solutions involving base pay, variable pay, annual and longer-term incentives and benefits.
• Experienced in developing trusted relationships with senior stakeholders.
• Experienced in the administration of complex reward arrangements, external benchmarking, market analysis, design and implementation of policies and procedures.
• Main interfaces - Internal People colleagues: Chief People Officers, Recruitment National Grid teams: General Counsel, Tax, Business Services, Payroll, Pensions, Procurement Exec Pay Customers: Business Leaders, GEC/SLG/Band B colleagues
• Main interfaces - External Suppliers: Global Mobility Assignment Services, International Medical & Dental, PMI, Tax advisors Global Mobility data services, Immigration advisors, Recruitment agencies

Salary

New England, MA $153,000 - $180,000 a year

Downstate, NY $163,000 - $192,000 a year

This position has a career path which provides for advancement opportunities within and across bands as you develop and evolve in the position; gaining experience, expertise and acquiring and applying technical skills. Candidates will be assessed and provided offers against the minimum qualifications of this role and their individual experience.