Assistant Vice President, Compensation & Payroll

The Hanover Insurance Group•Worcester, MA

19h•Hybrid

About The Position

The Hanover's Human Resource Team is seeking an Assistant Vice President of Compensation and Payroll. This is a full-time, exempt role, eligible for a fully remote arrangement or Hybrid. The Head Compensation will be responsible for the strategic design, implementation, and oversight of the organization’s broad-based compensation, recognition programs and enterprise job architecture. They will participate in the strategy and design of executive compensation, overseeing the implementation of these programs, including leadership of our enterprise managed service payroll function. This leader will play a critical role in enhancing employee experience, optimizing the impact of compensation programs, championing a culture of pay for performance and pay understanding across the organization.

Requirements

10+ years of relevant benefits experience, with a proven track record of managing and influencing matrixed teams in a publicly traded company or diversified firm.
A Masters or Bachelors degree or an equivalent combination of education and directly relevant experience.
Deep knowledge of compensation design and administration, including regulatory, tax, and legislative matters impacting program design and administration.
Exceptional written and verbal communication skills, with the ability to effectively consult and influence compensation matters with senior leaders, including C-suite executives.
Strong financial and analytical skills for conducting cost-benefit analyses and effectively managing compensation expenses.
Demonstrated ability to translate vision into action, manage multiple priorities, improve operations, and maintain positive relationships while delivering high quality results in a fast-paced, collaborative and complex environment.
Proven coaching, mentoring, and employee development capabilities.

Nice To Haves

Executive Compensation expertise preferred.

Responsibilities

Lead the strategy and design of all national broad-based compensation programs and enterprise payroll.
Monitor emerging trends and shifts in business direction, proactively assessing and benchmarking programs to enhance competitiveness and relevance, while aligning with strategic and financial goals, supporting employee engagement, attraction and retention of talent.
Utilize strong analytical capabilities to evaluate the performance, competitiveness, and cost-effectiveness of compensation programs aligned with Hanover’s business strategy and culture.
Leverage data-driven insights to deliver impactful business consultation, guide strategic enhancements and ensure alignment with organizational objectives.
Provide oversight for compensation administration, monitoring internal and external partners performance to ensure high-quality service delivery.
Own and cultivate strategic relationships with all compensation vendors.
Collaborate effectively with internal partners, including Legal, Tax, Finance and HR Services.
Ensure compliance with all federal, state, and local laws and regulations (e.g., FLSA, Pay Equity, Payroll Tax).
Oversee and manage the budget for most compensation plans, collaborating with the Finance team to establish budgets, monitor the level and impact of spend, and support the quality of monthly close processes and financial reporting.
Provide expertise and thought leadership to departmental and cross-functional initiatives.
Participate/lead compensation plan due diligence related to merger and acquisition activities.
Directly lead a team of 5 Compensation and Payroll professionals and share leadership accountability for compensation operations within HR Services.
Participate as a member or the HR extended leadership team, contributing to leadership and prioritization of departmental and HR goals and initiatives.