Director, Compensation

Xcel Energy•Minneapolis, MN

4d•$148,400 - $210,733•Hybrid

About The Position

A visionary leader responsible for the design, development and implementation of the Company’s broad-based employee compensation and recognition programs. This role requires a deep understanding of base pay, incentive plans, recognition and executive compensation. Serves as the leader that position compensation programs to align with business needs the Total Rewards strategy to support the attraction and retention of desired talent. The Compensation Director is a crucial role on the Total Rewards leadership team to foster partnerships across HR and collaborate with Finance, Legal, Regulatory to align plan design and enhance the employee experience and organizational performance.

Requirements

Bachelor's degree in a HR, business, or related field or an equivalent combination of education and relevant experience. Advanced degree preferred.
10+ years of progressive experience in compensation, with at least 5 years in a leadership or strategic role.
Some exposure and working knowledge of executive compensation and LTI program administration.
Strong understanding of relevant laws and regulations governing compensation programs at the federal and state levels.
Advanced analytical, consulting and influencing skills, with a track record of identifying issues and formulating solutions.
Demonstrated experience with various HRIS and compensation systems.
Profession certifications such as CCP, GCP or similar credentials are highly valued.

Nice To Haves

Advanced degree preferred.
Profession certifications such as CCP, GCP or similar credentials are highly valued.

Responsibilities

Direct the assessment and development of broad-based employee compensation strategy, roadmap and programs to ensure alignment with business needs.
Champion innovative program offers in response to business growth needs and supporting employee engagement.
Assess market trends and formulate recommendations to maintain the right level of competitive market positioning within the larger total rewards framework.
Make evidence-based decisions for continuous improvement by analyzing program costs, utilization, and claims data to optimize plan design and expenses while maintaining or enhancing value for employees.
Provide leadership on program and policy implementation, administration, communication and change management for base pay and variable pay.
Ensure business continuity through the ongoing development and maintenance of standard operational procedures and process documentation.
Ensure team stays abreast of regulatory changes and that business processes remain compliant with applicable federal, state and local requirements (e.g., FLSA, 409A, pay equity, wage notices).
Ensure strong partnership with other cross-functional partners and alignment on ownership.
Collaborate with internal partners to develop and implement strategy to obtain regulatory recovery on employee labor costs.
Oversee the coordination and preparation of testimony, respond to regulator requests, and act as HR's witness for regulatory proceedings.
Serves as a rate case witness and attends hearing when applicable.
Acts as a backup to the Executive Compensation & LTI Senior Manager.
Support the preparation of proxy filings.
Serves as an understudy on preparation of materials for the Governance, Compensation and Nominating Committee (GCN) meetings.
Build, mentor, and lead team of compensation consultants to foster a high performing culture focusing on value creation, operational excellence, collaboration and continuous learning.
Set clear objectives, provide regular feedback, and guide professional development to strengthen the team’s capabilities.
Promote cross-functional partnerships with HR, Finance, Legal and Regulatory to drive integrated solutions and strategic alignment.