AVP Compensation Mgr
To administer the compensation function including policies procedures and practices covering all aspects of the rewards and recognition programs.
Duties and Responsibilities:
- Develop and manage the total rewards philosophy for the organization by ensuring competitive programs are designed to support the stated goals, objectives and mission. Measure program effectiveness and prepare reports and presentations for management as needed.
- Perform day to day compensation administration activities. Market price jobs, write job descriptions, establish and maintain a job titles, classify roles as exempt or non-exempt, establish EEO-1 codes for positions and other related activities. Update and maintain data in applicable database and software applications. Work closely with Talent Acquisition, HR Operations, HR Business Partners, and People Managers throughout the organization to ensure employee job descriptions, job titles, and data are accurate and complete.
- Manage all bonus, incentive and commission programs for the organization. Inventory existing programs, participate in the design and administration of new incentive programs, prepare reports on cost, spend, and ability of programs to deliver results aligned with company and individual performance, and ensure appropriate audit controls and risk mitigation are built into program design and administration in accordance with all applicable regulatory and banking guidelines, rules, and regulations. Upload signed plan documents into ADP.
- Develop and manage the market research/salary survey practices. Source and participate in appropriate surveys in a fiscally prudent manner, identify peer groups for positions, e.g. banking, financial services versus general industry, etc. Develop, update and maintain salary structures and grade hierarchies for the organization. Identify geographic differentials needed to manage pay effectively.
- Manage standard compensation policies and programs across the company including the annual merit planning and administration program, promotion and adjustment processes, reviews, approvals, etc. Develop program budgets and works closely with the HR Business Partners, Learning & Development and senior leadership to manage the timeliness of pay increase and performance management reviews for employees. Develop and communicate guidelines, train managers, and provide advice and consultation as needed to business leaders.
- Manage Affirmative Action reporting and the development of the annual Affirmative Action plan coordinating with the outside vendor, responding to questions and data requests.
- Prepare the EEO-1 reports for the organization. Update and maintain EEO Establishment tables in ADP, ensuring employee EEO codes are updated and accurate. Respond to other governmental requests for data from the department of labor.
- Manage executive pay reporting providing input for proxy and the compensation BOD committee presentations as assigned.
- Develop and implement compensation communications and training as needed in partnership with the Marketing, HR Business Partners, and Learning and Development to ensure People Managers are educated on programs and reporting and able to effectively explain them to their employees.
- Design and run ad hoc and regular reports from the systems. Assist users with reporting, design and customize standard reports and act as the reporting expert in the HRIS system. Prepare all reports in the designated time frames. Work with ADP on carrier and other feeds to automate and secure data interfaces between systems. Monitor and troubleshoot issues with the feeds.
- An undergraduate degree in a related field or an equivalent combination of training and experience. A graduate degree preferred.
- A minimum of 5 years related compensation experience covering all aspects of compensation from standard administration, market pricing and job evaluation practices to bonus design.
- Working knowledge of executive pay practices is preferred
- Working knowledge of ADP report writing, job table structures, etc.
- Excellent verbal, written, and interpersonal communication skills
- Excellent excel skills with the ability to perform functions such as vlookups, etc.
- A team player able to work effectively in a team fostered, multi-tasking environment
Employment with The Bancorp includes successfully passing a background check including credit, criminal, OFAC, education and past employment.
The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability.
The Bancorp is an Equal Opportunity Employer