Compensation Manager

Regions Bank•Birmingham, AL

53d

About The Position

At Regions, the Compensation Manager leads and manages a team supporting effective on-going Compensation program development and administration. This manager is considered an expert in the field and will exhibit strong leadership abilities, relationship building and strategic partnering with executives, senior managers and other HR professionals within the organization on Compensation programs and policies.

Requirements

Bachelor’s degree in Human Resources, Business, or related field
Seven (7) years of experience in Compensation or closely related HR experience supporting financial industry clients in revenue production areas
Previous management experience leading and directing the work of others
Ability to influence others
Able to work independently or in a team environment
Advanced assimilations of data and analysis
Advanced communication skills, both written and verbal
Advanced Excel skills (i.e., formula’s, pivot tables, VLOOKUP, etc.)
Advanced leadership skills
Critical thinking/Problem Solving
Demonstrated negotiation skills
Excellent organizational and time-management skills
Independent judgement and reasoning

Nice To Haves

Certification as Senior Professional in Human Resources (SPHR) or Certified Compensation Professional (CCP)

Responsibilities

Applies a broad knowledge of market pay practices and the competitive landscape to provide strategic support regarding compensation plans and pay practices within business segments or geographic areas
Consults with Executives and managers on the development of business delivery of pay strategy and pay effectiveness relating including base pay, incentive opportunity, long-term incentive plans (LTIP), and mix of pay.
Identify and propose competitive solutions to complex compensation issues and offer proposals.
Works with senior HR Management in the formulation of compensation strategies and policies for pay practices to support business and human capital strategies
Works with HR Partners, Executives and managers to help develop a career framework, identify/address compensation issues, and educate managers regarding total rewards practices and execution
Acts as COE leader to advise and integrate associates in merger and acquisition activity
May advise on the construct and governance of sales and other incentive pay plans and programs
Advises Executives and HR leaders on organizational structures, spans/layers, and job roles
Contributes to the development and implementation of compensation tools and techniques that helps the rest of the HR team make appropriate pay and talent decisions
Remains up to date on legal regulations surrounding compensation issues. Provide advice and recommendations as needed to ensure compliance
Thinks holistically about issues that impact pay practices, job roles, and compensation processes. Uses relevant data to identify patterns, provide insights and communicate recommendations to business leaders and HR partners.
Engages appropriate stakeholders and/or partners with other HR leaders on proposed solutions and the execution of project plans
Mentors and develops a team of compensation consultants
Effectively drive philosophical and process changes throughout supported businesses, in conjunction with an evolving compensation strategic plan
Leads and directs team members in conducting comparative analysis of associates to determine if pay inequities exist and consults with management on potential pay inequities and solutions
Conducts comprehensive analysis and market studies to evaluate the competitiveness of proposed new compensation programs
Evaluates analysis results, recommend program changes, model cost impact, and present final recommendations
Leads team on approvals, and responses to questions related to pay for new hires, promotions, demotions, equity adjustments, exemption status, position classification process, job evaluation, pay structure, merit pay, and Incentive Programs
Advises, researches, and recommends mix of pay (i.e., base, short-term incentive, and LTIP) to update market and business strategy
Leads team in monitoring, surfacing and mitigating areas of risk, including Fair Labor Standards Act (FLSA) classification and compliance
Identifies and resolves problems
Identifies reporting needs and works with appropriate teams on production, interpretation and distribution
Identities, leads or participates in special projects

Benefits

Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates.
Paid Vacation/Sick Time
401K with Company Match
Medical, Dental and Vision Benefits
Disability Benefits
Health Savings Account
Flexible Spending Account
Life Insurance
Parental Leave
Employee Assistance Program
Associate Volunteer Program
Opportunity to participate in the Long Term Incentive Plan.