Director of Compensation

Arrow International•Cleveland, OH

About The Position

The Director of Compensation develops, implements, and manages compensation strategies that support organizational goals and align with market best practices. Reporting to the Chief Financial Officer (CFO) and partnering directly with Human Resources, this role helps the company attract, retain, and motivate talent through competitive and equitable compensation. The position calls for strategic thinking, strong analytical capabilities, and a thorough understanding of compliance, industry trends, and employee experience. In partnership with Human Resources, the Director manages compensation programs and policies, job architecture, market benchmarking, pay equity, merit and bonus cycles, commission plans, and executive compensation. The role also leads compensation-related departmental budgeting and financial modeling, advises leaders and managers on pay decisions, supports compliance with wage, pay equity, and pay transparency laws, and evaluates annual benefit renewal strategies. The Director serves as a compensation advisor to the CFO, executive team, and HR leadership; presents recommendations and reports to senior leaders; leads and develops compensation professionals; and works with HR on talent acquisition, performance management, and succession planning. The role also monitors market and legislative developments and oversees compensation data integrity, security, and technology evaluation.

Requirements

Bachelor’s degree in human resources, business administration, finance, or a related field.
10 years of related experience as a compensation professional.
5 years of management experience.
Professionalism and ability to manage confidential information effectively.
Ability to prioritize and handle multiple tasks in a dynamic, fast-paced environment.
Strong analytical and financial modeling skills.
Expertise in compensation strategy, benefits plan design, and executive pay.
Excellent communication and leadership skills.
Strong Microsoft Office skills, including advanced Excel skills.

Nice To Haves

CCP (Certified Compensation Professional) or similar certifications.

Responsibilities

Design, implement, and manage compensation programs, policies, and practices for all employee levels in partnership with Human Resources.
Develop and maintain job architecture, including job descriptions, job evaluations, leveling frameworks, pay grades, and salary structures.
Conduct benchmarking and market analysis during the annual merit cycle to support competitive and equitable pay.
Participate in and analyze compensation surveys and recommend salary range and market adjustments.
Conduct regular pay equity analyses and recommend corrective actions.
Own the end-to-end administration of annual merit and bonus cycles.
Oversee commission plans and documentation of existing plans.
Develop and administer executive compensation programs, including total rewards analysis for senior leaders.
Lead departmental budgeting related to compensation and headcount additions.
Develop financial models to forecast and evaluate the cost impact of compensation programs and proposed changes; partner with Finance on forecasting and accruals.
Align compensation with business strategies.
Advise HR business partners and hiring managers on job offers, promotions, transfers, and internal equity.
Ensure compensation practices comply with federal, state, and local wage and hour, pay equity, and pay transparency laws, including exempt and non-exempt classification.
Evaluate annual benefit renewal strategies, costs, and mitigations.
Present data-driven recommendations and reports to senior leadership.
Serve as the primary compensation advisor to the CFO, executive team, and HR leadership on pay philosophy, market trends, and risk.
Educate managers and employees on compensation and deferred compensation.
Lead and develop compensation professionals.
Partner with HR on talent acquisition, performance management, and succession planning so compensation supports attraction, retention, and development.
Monitor market trends and legislative changes affecting compensation and recommend program updates.
Oversee the integrity and security of compensation data and evaluate compensation technology and tools.