Director, Compensation Solutions

Scotiabank•Toronto, ON

2d•Onsite

About The Position

The Director leads and oversees a team responsible for the execution and delivery of compensation solutions to employees and managers. The role is accountable to seek out opportunities to partner more effectively with key stakeholders, develop innovative solutions, and execute to improve experiences and key processes across the three functional areas under its leadership: compensation solutions, job evaluation delivery and executive services and global mobility. The role also ensures business strategies, plans and initiatives are executed and delivered in compliance with governing regulations, internal policies and procedures.

Requirements

University degree or related designation (CHRP, CCP, GRP).
Extensive compensation experience in a large, global corporate environment.
Demonstrates a comprehensive understanding of compensation and human resources policies, practices and standards.
Works independently, with guidance in only the most complex situations.
Ability to successfully manage multiple projects/changing priorities concurrently under tight timelines and with multiple stakeholders.
Requires interaction with an increasingly broad range of stakeholders (internal and external) to influence results and lead implementation of programs.
Strong communication and clear and concise writing skills.

Responsibilities

Lead and drive a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Champion a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Lead the Compensation Solutions team, providing strategic compensation advisory support and administration across base salary, annual incentive, and equity planning.
Guide compensation advisory support for managers and employees through AskHR and partners with Total Rewards on guidelines and escalation points.
Direct end-to-end compensation planning activities (business requirements, system testing, year-end cycles) including Executive AIP, Non-Executive AIP, BIP, CBIP, and GBM globally.
Oversee Executive Services and Global Mobility.
Lead the management and administration of the Bank’s equity programs, executive perquisite, Global Mobility and other activities (T4 preparation, Related Parties disclosure signoff, note disclosures for Financial Statements, etc.).
Enhance Compensation Solutions' offer through: continuous improvement, identification and resolution of areas of opportunity, automation and streamlining of activities & processes.
Working with TR and HR teams globally to streamline and automate other related compensation cycles (i.e. Colombia annual January salary review – inflationary adjustments, integral to standard base salary regime change; Peru legal gratification and inflation salary cycle; Chile salary review; global mid-year salary review cycle; identify, develop and implement compensation related EC business rules).
Responsible for assessment and implementation of a specialized incentive plan tool that will facilitate: Calculation of specialized incentive awards, Facilitate straight through processing of payments to EC and payroll, Provide employee statements outlining their annual compensation under their specialized incentive plan, Implementation of a workflow approval process for each business lines sales effectiveness and management teams, Sales management and incentive spend reporting.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Create an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Build a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.