Head of Global Compensation Programs and Operations

Northern Trust • Chicago, IL

29d • Hybrid

About The Position

About Northern Trust: Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. Role/ Department: Head of Global Compensation Programs & Operations/Global Compensation Head of Global Compensation Programs & Operations is responsible for design, implementation, and managing compensation strategies and programs to attract, retain, and motivate partners, ensuring compliance with regulations and aligning with company goals.

Requirements

• Bachelor’s degree in human resources or related field of study or equivalent experience.
• Previous Financial Services experience
• A minimum of 10+ years of progressive compensation experience partnering with senior leadership/executives and a track record for driving the talent agenda.
• Demonstrated experience in job evaluation, job architecture, market pricing, benchmarking, salary structure design and development, pay for performance, short- and long-term incentive compensation, and equity plan development and administration.
• Excellent critical thinking and problem-solving skills, with the ability to develop creative solutions to complex global compensation issues.
• Strong communication and interpersonal skills, with the ability to effectively present complex global compensation information and influence stakeholders at all levels of the organization.
• Knowledge of global compensation laws, regulations, and market trends.
• Ability to work independently and in a team environment.
• Detail-oriented and organized, with strong project management skills and the ability to manage multiple global priorities and deadlines.
• Advanced proficiency in Microsoft Excel and other Office products and HR applications including Workday.

Responsibilities

• Provide support to the Head of Global Total Rewards in setting strategic and operational leadership in the implementation, administration, and communication of compensation programs including HR governance, base pay, variable pay, merit, compensation planning, and market analysis with a focus on continuous improvement.
• Develop, implement and carry out the ongoing evaluation and governance of global compensation and recognition programs, processes and systems and people data to manage costs, increase efficiency and improve functionality.
• Manage the annual compensation cycles including stakeholder communications, enablement, project planning, timelines, system set up, data management and dissemination, audits and approvals.
• Advise leaders and managers on compensation & reward policies and practices providing deep subject matter expertise, and provide training, and guidance on development of best practice compensation programs, policies, and procedures to stakeholders.
• Lead the development of educational materials, tools, and necessary training modules to increase HRBPs and management understanding of existing or new compensation programs and practices.
• Ownership of compensation survey submissions and salary range reviews: job matching, data submission and independent analysis of benchmarking data to support compensation strategy.
• Continuously review current compensation processes, programs and tools (e.g., annual compensation review, market pricing, etc.) to identify opportunities for process improvements, automation and solutions for implementation to enable greater efficiency, scalability as well as enhance employees’ total rewards experience.
• Support audit processes and legal reporting to make certain compensation programs are administered in compliance with company policies and government regulations.
• Partner with business and HR leaders in the administration and continuous enhancement of the company’s job architecture. Annually assess our job architecture and salary ranges and provide recommendations as needed.
• Collaborate with HR Technology team on technology strategy, improvements, and enhancements to data integrity and Total Reward systems and tools.
• Make staffing decisions, manage expenses and salary review process
• Support other cross-functional, global initiatives and projects as needed.

Benefits

• Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Number of Employees: 501-1,000 employees