Compensation Consultant

RBC • Toronto, ON

4d • Onsite

About The Position

As a Compensation Advisory Consultant supporting Personal Banking or Wealth Management, you'll serve as a strategic partner and subject matter expert, shaping how RBC attracts, engages, and retains top talent. You'll design innovative compensation strategies and solutions—from salary architecture to equity programs—that align with RBC's business priorities while maintaining our competitive edge in the talent market. Working closely with leaders and key stakeholders, you'll translate complex compensation decisions into clear, actionable strategies that drive organizational performance and demonstrate measurable business impact.
In this role, you'll advise business leaders on compensation strategies, ensuring they understand the financial and human capital implications of their decisions. You'll be expected to challenge assumptions, identify opportunities, and recommend solutions that balance organizational needs with market realities. This is a role where your analytical rigor, strategic thinking, and stakeholder influence directly shape how we compete for and retain talent—and ultimately drive business results.
You'll report to the Senior Director, Personal Banking or Wealth Management Compensation Advisory, with clear accountability for delivering strategic compensation solutions that enhance our competitive positioning, support business objectives, and drive measurable improvements in talent attraction and retention. You'll work with autonomy and judgment to balance competing priorities while maintaining alignment with RBC's compensation philosophy and governance standards.

Requirements

• Bachelor's degree in Human Resources, Finance, Economics, Business, or related field.
• 3+ to 5+ years of progressive compensation design and governance experience, ideally in financial services, with demonstrated success managing programs from conception through implementation and optimization.
• Proven strategic thinking and business acumen: Experience leading or contributing to compensation strategy initiatives; identifying business problems and recommending solutions; managing competing priorities while maintaining alignment with organizational principles.
• Strong market and competitive intelligence: Experience with compensation market analysis, benchmarking, and competitive positioning assessments; familiarity with market data sources and consulting resources.
• Advanced technical proficiency with Microsoft Excel (data analysis, modeling, scenario building, complex formulas) and PowerPoint (creating executive-level presentations); ability to build and manage sophisticated compensation databases and models.
• Demonstrated ability to communicate compensation strategy to senior audiences: Proven capability in translating complex financial and compensation concepts into clear, actionable insights for business leaders.
• Demonstrated expertise in incentive plan design (short-term, long-term, or commission structures), including program governance, implementation, and performance evaluation.
• Proven ability to influence and partner effectively across functions (HR, Finance, Business Leadership) to drive alignment, resolve conflicts, and deliver results.
• Current knowledge of compensation trends, best practices, and emerging issues in financial services and broader industry (demonstrated through professional development, relevant certifications, or industry involvement).
• Understanding of financial principles and business metrics: Ability to analyze compensation costs, ROI, and human capital implications of decisions.

Nice To Haves

• Financial background experience would be a strong asset.
• Professional compensation certifications (e.g., World at Work CCP, CECP).
• Experience with compensation technology platforms or HRIS systems (e.g., Workday, Payfactors).
• Experience supporting organizational change initiatives.
• Track record of presenting to or influencing business leaders.

Responsibilities

• Partner with key stakeholders to translate strategic priorities into competitive compensation programs that drive organizational performance and support talent acquisition and retention.
• Champion fair and consistent compensation practices by designing and facilitating calibration sessions that integrate data-driven analysis with business context and people insights.
• Manage the design and optimization of compensation solutions across salary, incentive, direct drive, and commissioned programs to support business objectives.
• Design innovative salary and incentive solutions that enhance RBC's competitive positioning while optimizing financial return and reinforcing desired performance behaviors—ensuring alignment with compensation principles and broader talent strategies.
• Collaborate strategically with HR Business Partners, business leaders, and support functions to develop integrated HR solutions for major organizational initiatives (mergers, divestitures, role realignments) within the Financial Planning continuum.
• Transform compensation data into strategic insights—conducting rigorous market analysis, competitive benchmarking, and equity assessments to inform recommendations that position RBC as a competitive employer.
• Serve as a subject matter expert on compensation strategy, advising on best practices and emerging industry trends to enhance RBC's competitive advantage.
• Optimize program delivery by identifying automation opportunities and process improvements that enhance stakeholder experience and enable focus on strategic initiatives.

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• A world-class training program in financial services.
• Opportunities to do challenging work.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level