Global Compensation Consultant Head of Wealth Management and Asset Management at Northern Trust

Chicago, Illinois, United States

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Not SpecifiedCompensation

Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Wealth Management, Asset Management, Financial ServicesIndustries

Requirements

10 or more years of experience in compensation disciplines in financial services Wealth Management and/or Asset Management preferred
Demonstrated proficiency via extensive technical and business knowledge and functional expertise of sales plans
Demonstrated experience in job evaluation, job architecture, market pricing, benchmarking, salary structure design and development, pay for performance, short- and long-term incentive compensation
Excellent verbal, written and presentation communication skills, with experience conducting presentations to clients, peers and/or senior management related to compensation topics
Demonstrated ability to consult and influence with all levels of management
Past experience demonstrating strong change management and project management skills
Ability to solve highly complex problems through quantitative and qualitative analysis in a team-based environment
Critical attention (inferred from context)

Responsibilities

Leads the design, implementation, and execution of innovative and competitive compensation strategies for the Wealth Management and Asset Management business, including incentive, sales compensation plans, and market analysis
Partners closely with senior business leadership, HR business partners and other primary stakeholders to align compensation programs with business goals and regulatory requirements
Oversees and supports the annual compensation cycle by utilizing data and analytics to provide insights and recommendations to leadership
Monitors and analyzes market trends and competitor practices to recommend adjustments as needed
Maintains knowledge and understanding of global remuneration practices via external forums, consultant interaction and peer networks
Provides guidance and thought leadership to HR and business leaders on compensation matters including job offers, market competitiveness, and pay for performance
Collaborates on compensation communications and training for managers and employees
Aligns compensation approaches with business needs and regulatory restrictions, developing creative solutions for talent acquisition and retention; recommends solutions or alternative actions to resolve compensation-related challenges
Carries out complex initiatives involving multiple disciplines and/or ambiguous issues
Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity

Skills

Key technologies and capabilities for this role

Compensation StrategyIncentive CompensationSales PlansJob EvaluationMarket PricingCompensation AnalyticsRegulatory ComplianceTotal Rewards

Questions & Answers

Common questions about this position

What is the salary for this Global Compensation Consultant role?

This information is not specified in the job description.

Is this position remote or does it require office work?

This information is not specified in the job description.

What key skills are required for the Head of Wealth Management and Asset Management compensation role?

The role requires expertise in compensation design including base pay, variable compensation, sales plans, job evaluations, market pricing, and compensation analytics, along with strong data analytics skills, knowledge of regulatory standards, and market trend analysis.

What is the company culture like at Northern Trust?

Northern Trust emphasizes enduring principles of service, expertise, and integrity, providing innovative financial services with leading technology and exceptional service to sophisticated clients, supported by over 22,000 partners.

What makes a strong candidate for this compensation consultant position?

Strong candidates will have deep expertise in compensation strategies, experience leading complex initiatives, ability to partner with senior leaders and HR, and skills in data analytics, market analysis, and regulatory compliance.