Head of Rewards North America
About The Position
Future focused and always one step ahead. The Head of Rewards will lead the regional implementation of Munich Re’s rewards strategy, ensuring competitive, fair, and compliant compensation and benefits programs. Reporting to the Regional Head of HR, the role will be responsible for overseeing salary structures, annual compensation process cycle, executive compensation, benefits administration, and pay governance. This includes regional pension responsibilities, such as the design and oversight of retirement savings plans and compliance with local regulatory requirements. The Head of Rewards will collaborate closely with HRBPs and Finance to align compensation strategies with business needs and local labour regulations while adhering to global standards. The Head of Rewards will also work closely with the Global Payroll team to ensure seamless coordination between payroll and rewards. The role works closely with the broader Regional HR Leadership team, leads the regional rewards team, and collaborates with the Global Head of Rewards.
Requirements
- Minimum of seven years of proven leadership experience in rewards within a global, matrixed organization
- Strong understanding of regional labour laws, tax regulations, and compliance requirements related to compensation
- Expertise in job evaluation, market benchmarking, and total rewards program design
- Experience in effectively managing annual compensation processes across different business realities and/or geographies
- Experience working with HR technology and digital tools related to managing compensation and benefits
- Ability to collaborate across a complex, global environment, working with HR, business leaders, and external partners
- Data-driven mindset, leveraging compensation analytics and reporting to optimize decision-making
- Proven ability to lead teams through complex transformation initiatives, providing direction and stability during periods of change
- Demonstrated leadership in shaping high-performing, future-ready teams by fostering adaptability, engagement, and continuous development
- Excellent communication skills in English
Responsibilities
- Actively contribute to the definition of global rewards strategy and processes, participate in the design of new global rewards solutions
- Implement the global rewards strategy within the region, aligned with business priorities and local requirements
- Oversee salary structures, job grading, and benchmarking, ensuring pay equity and market competitiveness
- Manage the annual compensation process cycle, including annual merit and bonus processes
- Ensure effective management of benefits program, including pensions, health insurance, and international mobility support
- Ensure effective management of benefits programs, including pensions, retirement savings plans (e.g., 401(k), non-qualified deferred compensation, SERP programs), health insurance, and international mobility support
- In regions with additional requirements, such as North America, take ownership of the design, administration, and governance of pension systems—including regulatory compliance and, where applicable, the management of dedicated pension vehicles or insurance structures
- Partner with HRBPs, Finance, and business leaders to align compensation strategies with business goals, including actively presenting proposals and securing approval from relevant stakeholders such as Compensation Committees, Leadership Teams, etc., depending on the topic and country
- Ensure compliance with regional labour laws, tax regulations, and corporate governance policies related to compensation and benefits
Benefits
- health insurance coverage
- employee wellness program
- life and disability insurance
- 401k match
- retirement savings plan
- paid holidays
- paid time off (PTO)
- Two options for your health insurance plan (PPO or High Deductible)
- Prescription drug coverage (included in your health insurance plan)
- Vision and dental insurance plans
- basic life insurance equal to 1x annual salary
- AD&D coverage that is equal to 1x annual salary
- Short and Long Term Disability coverage
- Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children)
- Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity)
- A robust 401k plan with up to a 5% employer match
- A retirement savings plan that is 100% company funded
- Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries
- Eligibility to receive a yearly bonus as a Munich Re employee
- A variety of health and wellness programs provided at no cost
- Paid time off for eligible family care needs
- Tuition assistance and educational achievement bonuses
- A corporate matching gifts program that further enhances your charitable donation
- Paid time off to volunteer in your community
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
