Compensation Design Lead

Truist Bank•Charlotte, NC

2d•Onsite

About The Position

The Compensation Design Lead implements strategic compensation initiatives and administers complex pay programs to ensure competitive, equitable, and compliant compensation practices. Manages major compensation projects and processes, develops rewards and recognition programs to support motivation and retention, reviews compensation assessments and recommends improvements, and contributes to the achievement of operational targets. Leads the delivery and continuous improvement of annual compensation events, including annual and mid-year compensation reviews, and develops the programs, tools, and guidelines that support effective compensation administration and decision-making. Serves as a trusted advisor and subject matter expert to compensation teammates, HR partners, and other stakeholders by providing consultation, guidance, and compensation expertise.

Requirements

Bachelor’s degree or equivalent education, training, and work-related experience.
Minimum of 10 years of demonstrated specialized and/or broad knowledge with Compensation or related discipline (Human Resources, Finance, etc.)
Strong knowledge of all aspects of compensation program design.
Project management experience.

Nice To Haves

Experience supporting or leading enterprise compensation cycles, including annual compensation review (ACR) and mid-year compensation review (MCR), with familiarity in managing processes, timelines, and stakeholder communication.
Exposure to Total Rewards strategy development, including contributing to the design or evolution of compensation programs in partnership with cross-functional teams.
Strong communication and facilitation skills, with demonstrated experience presenting to senior leaders, leading manager sessions or trainings, and delivering a consistent, high-quality stakeholder experience.

Responsibilities

Implements strategic compensation strategies and goals established by Senior Management and Executives.
Administers complex compensation programs covering base pay, short-term and long-term incentives, allowances, deferred compensation, sales compensation, and/or rewards.
Directs job analysis, evaluation, classification, benchmarking, and market survey participation to ensure competitive and equitable compensation.
Develops and manages non-cash rewards and recognition programs to enhance teammate motivation and retention.
Collaborates with external consultants and vendors regarding compensation and rewards programs, policies, procedures, and practices.
Reviews outcomes of competitive compensation assessments and makes recommendations to ensure internal equity and market competitiveness.
Manages major/complex compensation and rewards projects or processes that span across multiple teams.
Ensures compliance with all relevant regulatory requirements and accounting standards related to compensation.
Contributes to the development of goals for area of responsibility and works to achieve operational targets with major impact on divisional or departmental results.