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

New York, New York, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), 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 including financial services Wealth Management and/or Asset Management (WM/AM)
Demonstrated proficiency via extensive technical and business knowledge and functional expertise of WM and/or AM sales plans; global sales plans experience is preferred
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. Experience with 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

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 DesignIncentive CompensationSales Compensation PlansJob EvaluationMarket PricingCompensation AnalyticsData AnalyticsRegulatory ComplianceTotal RewardsMarket Analysis

Questions & Answers

Common questions about this position

What are the main responsibilities of this Global Compensation Consultant role?

The role leads the design, implementation, and execution of compensation programs for Wealth Management and Asset Management, including incentive and sales plans, partners with senior leaders and HR, oversees the annual compensation cycle using analytics, monitors market trends, and provides thought leadership on compensation matters.

What skills or expertise are required for this position?

Expertise in base and variable compensation, sales plans, job evaluations, market pricing, compensation analytics, data analysis, market trend monitoring, and knowledge of global remuneration practices is required, along with thought leadership and cross-functional collaboration.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What is the salary or compensation for this role?

This information is not specified in the job description.

Who will this role collaborate with?

The role works closely with HR Business Partners, Talent Acquisition, senior business leaders, and Reward colleagues.