Director, Compensation

Xcel Energy•Minneapolis, MN

3d•$148,400 - $210,733•Hybrid

About The Position

The Director, Compensation is a visionary leader responsible for designing, developing, and implementing the company’s broad-based employee compensation and recognition programs. The role requires deep understanding of base pay, incentive plans, recognition, and executive compensation. It leads compensation programs that align with business needs and the Total Rewards strategy to attract and retain desired talent. As a member of the Total Rewards leadership team, the Director partners across HR and collaborates with Finance, Legal, and Regulatory teams to align plan design and improve employee experience and organizational performance. The position directs compensation strategy and program administration, provides guidance on compliance and regulatory support, and contributes to executive compensation activities, including rate case testimony and proxy filings. It also builds and leads a team of compensation consultants, promoting operational excellence, collaboration, continuous learning, and professional development. Xcel Energy supports a hybrid work model; many roles are expected to work onsite three days per week, Tuesday through Thursday, although expectations vary by role, team, and business needs.

Requirements

Bachelor’s degree in HR, business, or a related field, or an equivalent combination of education and relevant experience.
At least 10 years of progressive experience in compensation, including at least 5 years in a leadership or strategic role.
Working knowledge and some exposure to executive compensation and long-term incentive (LTI) program administration.
Strong understanding of federal and state laws and regulations governing compensation programs.
Advanced analytical, consulting, and influencing skills, with a track record of identifying issues and formulating solutions.
Demonstrated experience with various HRIS and compensation systems.
Strong skills in analytical and financial interpretation, communication, project management, organizational planning, stakeholder influence and collaboration, attention to detail, technology adaptation, vendor management, and team leadership.

Nice To Haves

Advanced degree.
Professional certifications such as CCP, GCP, or similar credentials.

Responsibilities

Direct assessment and development of broad-based employee compensation strategy, roadmap, and programs aligned with business needs.
Champion innovative compensation program offerings in response to business growth needs and to support employee engagement.
Assess market trends and recommend competitive market positioning within the broader Total Rewards framework.
Analyze program costs, utilization, and claims data to make evidence-based improvements to plan design and expenses while maintaining or enhancing employee value.
Lead implementation, administration, communication, and change management for base pay and variable pay programs and policies.
Maintain standard operating procedures and process documentation to support business continuity.
Keep the team informed of regulatory changes and ensure business processes comply with applicable federal, state, and local requirements, including FLSA, 409A, pay equity, and wage notices.
Partner with cross-functional teams to align on ownership and develop and implement strategies to obtain regulatory recovery on employee labor costs.
Oversee preparation of testimony, respond to regulator requests, and act as HR’s witness in regulatory proceedings.
Serve as a rate case witness and attend hearings when applicable.
Back up the Executive Compensation & LTI Senior Manager.
Support preparation of proxy filings and serve as an understudy for preparing materials for Governance, Compensation and Nominating Committee meetings.
Build, mentor, and lead compensation consultants, fostering value creation, operational excellence, collaboration, and continuous learning.
Set clear objectives, provide regular feedback, and guide team members’ professional development.
Promote partnerships with HR, Finance, Legal, and Regulatory teams to develop integrated solutions and strategic alignment.
Manage departmental budgets and expenses within corporate guidelines and demonstrate program effectiveness through metrics and dashboards.
Establish a high-performing team with consultative influence and succession-planning bench strength.