Head of Global Compensation Programs and Operations at Northern Trust

Chicago, Illinois, United States

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Not SpecifiedCompensation

Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, BankingIndustries

Requirements

Bachelor’s degree in human resources or related field of study or equivalent 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

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

Skills

Key technologies and capabilities for this role

Compensation StrategyTotal RewardsMarket AnalysisCompensation PlanningVariable PayBase PayMerit PlanningHR GovernanceData ManagementProject ManagementStakeholder CommunicationsRegulatory ComplianceCompensation CyclesGlobal CompensationReward Policies

Questions & Answers

Common questions about this position

What are the main responsibilities of the Head of Global Compensation Programs and Operations role?

The role involves designing and implementing compensation strategies, managing annual compensation cycles, providing expertise on policies, leading development of educational materials, handling survey submissions, and ensuring compliance and process improvements.

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.

What is the company culture like at Northern Trust?

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

What makes a strong candidate for this position?

A strong candidate should have deep expertise in compensation strategies, experience managing global programs, cycles, and compliance, and skills in process improvement, stakeholder advising, and job architecture.