Director of Compensation and Payroll

Arrow International • Cleveland, OH

8d

About The Position

The Director of Compensation and Payroll is responsible for developing, implementing, and managing compensation strategies that support the organization's goals and align with market best practices. In addition, the director will also be responsible for leading the organization’s global payroll function to ensure accurate, compliant and timely payroll processing. This role ensures the company attracts, retains, and motivates top talent through competitive and equitable compensation. The ideal candidate is a strategic thinker with strong analytical capabilities and a deep understanding of compliance, industry trends, and employee experience. Compensation Strategy & Management Design, implement, and manage the organization’s compensation programs, policies and practices for all employee levels. Conduct benchmarking and market analysis as part of annual merit cycle to ensure the organization remains competitive and equitable in pay. Help to facilitate merit and bonus process as needed. Lead budget process for each department related to payroll, headcount additions, etc. Align compensation with business strategies. Payroll Oversee the payroll function to ensure timely and accurate processing of wages, bonuses, deductions, taxes and withholdings. Lead implementation of new payroll software including recommendation of payroll software/provider. Develop, implement and maintain policies and procedures to ensure payroll processes are compliant with all regulations and company policies. Serve as subject matter expert on payroll issues, advising senior leadership and ensuring risk mitigation. Ensure that payroll-related financial data is accurately recorded for accounting purposes and supports compliance and financial reporting. Develop internal controls focused on self-audits to ensure continued accuracy of employee departmental classifications and payroll data needed for employee benefit plans, workers’ compensation insurance policies and other consumers of payroll information. Reconcile monthly payroll/headcount to cost centers. Leadership & Collaboration Present data-driven recommendations and reports to senior leadership. Educate managers and employees on both compensation and deferred compensation. Lead and develop payroll professionals.

Requirements

• Bachelor’s degree in human resources, business administration, finance, or related field
• 10 years of related experience as a compensation professional plus a solid understanding of the payroll function
• 5 years management experience
• Professionalism and effective ability to manage confidential information
• Ability to prioritize and handle multiple tasks in a dynamic and fast-paced environment
• Strong analytical and financial modeling, skills
• Proven expertise in compensation strategy, benefits plan design, and executive pay
• Excellent communication and leadership skills
• Strong MS Office skills with advanced Excel skills

Nice To Haves

• CCP (Certified Compensation Professional), CPP (Certified Payroll Professional), or similar certifications a plus

Responsibilities

• Developing, implementing, and managing compensation strategies
• Leading the organization’s global payroll function
• Design, implement, and manage the organization’s compensation programs, policies and practices for all employee levels
• Conduct benchmarking and market analysis
• Help to facilitate merit and bonus process as needed
• Lead budget process for each department related to payroll, headcount additions, etc
• Align compensation with business strategies
• Oversee the payroll function
• Lead implementation of new payroll software including recommendation of payroll software/provider
• Develop, implement and maintain policies and procedures to ensure payroll processes are compliant with all regulations and company policies
• Serve as subject matter expert on payroll issues
• Ensure that payroll-related financial data is accurately recorded for accounting purposes
• Develop internal controls focused on self-audits
• Reconcile monthly payroll/headcount to cost centers
• Present data-driven recommendations and reports to senior leadership
• Educate managers and employees on both compensation and deferred compensation
• Lead and develop payroll professionals

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Number of Employees: 1,001-5,000 employees