Director, Compensation

BMO•Toronto, ON

1d•Hybrid

About The Position

Provides compensation expert advice and counsel through a variety of business/group and leadership engagements to execute BMO’s strategy and support the business/group strategy. Supports/defines the strategic direction, governance design, program design and execution of compensation programs at BMO. Understands and aligns to regulatory requirements in applicable jurisdictions. Completes specific strategic & operational work to deliver program objectives and/or minimize risk. This is a Toronto-based hybrid opportunity, requiring on-site presence at least three days a week.

Requirements

Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Expert knowledge of compensation theory and program design methodology.
Must have strong experience developing sales plans
Seasoned expert with extensive industry knowledge.
Technical leader viewed as a thought leader for innovation.
Verbal & written communication skills - Expert.
Analytical and problem solving skills - Expert.
Influence skills - Expert.
Collaboration & team skills; with a focus on cross-group collaboration - Expert.
Able to manage ambiguity.
Data driven decision making - Expert.

Responsibilities

Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
Ensures alignment between values and behaviour that fosters diversity and inclusion.
Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
Attracts, retains, and enables the career development of top talent.
Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
Develops an expert understanding of business/group challenges.
Networks with industry contacts to gather competitive insights and best practices.
Recommends measures to improve organizational effectiveness.
May consult to or serve on various committees and task forces.
Provides expert advice, and support regarding employee and executive compensation issues including internal/external program effectiveness assessment, and governance.
Oversees the management of the regulatory program to ensure alignment to regulations; may include integrating across BMO depending on the requests.
Designs, develops and implements multi-year strategy (including governance design, program design, operating framework, tools and processes).
Develops policy positions taking into account legislative requirements.
Monitors program effectiveness and efficiency ensuring SLAs are met and identifying improvement opportunities.
Ensures the execution of program changes in alignment with strategy.
Develops the business case by identifying needs, analysing potential options and assessing expected return on investment.
Enhances subject matter expertise and keeps abreast of trends by reading journals and articles.
Acts as the prime contact for internal/external stakeholder relationships, which may include regulators.
Manages relationships with outside service providers for programs and ensure all required activities are completed.
Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
Collaborates across BMO to develop communications strategies and ensure consistency of messaging, in order to positively influence or change behaviour.
May include developing communications for senior leader and Board of Directors meetings.
Acts as the single point of contact for all regulatory matters, including regulatory reporting, to ensure BMO meets regulatory requirements in applicable jurisdictions.
Governs and oversees operations for compensation to ensure compliance to the operating framework, and adherence to regulations and guidelines.
Assesses and adapts existing operational programs; develops new capabilities to ensure ongoing success.
Directs the planning and implementation of operational programs.
Develops compensation programs/solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
Provides input into the planning & implementation of operational programs.
Supports the design, development and implementation of multi-year strategy for compensation that improves employee productivity, engagement and advocacy in alignment with BMO’s overall business strategy.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Gathers and formats data into regular and ad-hoc reports, and dashboards.
Supports regulatory requests, including regulatory reporting, to ensure BMO meets regulatory requirements in applicable jurisdictions.
Participates in / coordinates industry benchmarking processes that allow for better understanding of BMO’s program in relation to comparators.
Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO.
Influences how teams/groups work together.
Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.
Communicates abstract concepts in simple terms.
Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
Anticipates trends and responds by implementing appropriate changes.
Broader work or accountabilities may be assigned as needed.
Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.