Director – US Head of Total Rewards
City : New York City, NY, US, 10281
Category : Business and Financial Operations
Industry : Finance
Employer : Scotiabank
Requisition ID: 140996
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Title: Director – US Head of Total Rewards
The US HR Function has seen significant growth over the past few years, as we expand our US footprint, we have created an exciting new opportunity for a US Head of Total Rewards. As part of the Global Total Rewards community, this role leads and oversees the Total Rewards function (Compensation and Benefits) in the US, ensuring that business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies, and procedures.
Is this role right for you?
- Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Ensures the strategic alignment of Compensation and Benefit Plan programs and their consistency with the organization’s objectives and ensures local/regional variances are appropriate
- Lead the development, implementation and maintenance of both global and local Compensation and Benefits programs and procedures and ensures that all policies and practices are cost effective and in compliance with applicable BNS and local labor law legislations.
- Monitors all US pay-related regulatory developments and governance/reporting requirements, best practices / trends, conducts research and develops recommendations and presentations related to pay governance initiatives and processes for approval by the local CEO, Executive Committee (Exco), and SHUSI and SCUSA Boards, and BNS HCOB / Board as required.
- Partners with HR, Finance, Legal, Compliance, and Risk Management teams to ensure plans are compliant and effective from a financial and risk perspective and reflect governance / regulatory requirements.
- Prepares and controls the country Salary’s expenses Budget and to generate Compensation required KPI reports; leverages US based Salary surveys in order to create and maintain competitive local compensation packages.
- Manages the year-end review and approval process for the US, including for AIP and the GBM front-office incentive plan.
- Provides oversight and governance to Job Offer process – provides compensation recommendations for all roles within the US – partnering with global heads within Total Rewards where appropriate. Provide guidance to Global HRBPs on US based compensation offers
- Partners with Total Rewards to develop US Compensation Policies that can be governed, maintained and audited, and that align with the global Compensation practices related to conditions of employment (sign on/buyout/clawbacks etc)
- Supports Business line to prepare and update Job Descriptions, in order to identify Knowledge, problem-solving, accountability and working conditions required for each position to evaluate them and assign an internal salary level. In case of Director and above, work with JE team to present to Job Evaluation Committees.
- Maintains an external network of contacts and thought leaders in the Total Rewards US communities. Develops and maintains a strong network internally liaising with the Total Rewards team, Corporate Secretary, Legal, Compliance, Risk Management, Audit, Finance and other groups who collaborate on remuneration policy and related issues.
- Stays aware of changes in the industry, laws, and regulations; reviewing and updating employment policies and record keeping as necessary to ensure compliance. Leverages consultants where appropriate to build benchmarking intelligence across US financial institutions.
- Partners with global Pension and Benefits leads leads to design, implement and maintain US specific benefit plan offerings and all partnerships with third party vendors.
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if:
- Undergrad University degree - preferred Human Resources (or similar area of study)
- Professional certification in Compensation (CCP or equivalent)
- 10 – 12 years of progressive experience working in the Human Resources field, preferably in the Compensation and Benefits discipline.
- 8 – 10 years of management experience preferably in a Human Resources department and supervising support staff.
- Knowledge of Hay Group Methodology for Job Evaluation process
- Deep analytical expertise, along with strong ability to influence
- Experience with 401K and retirement plans, Equity plans
- Experienced in design of Benefits programs and managing vendors
- Competent user of Microsoft Office suite, particularly Excel and PowerPoint
Location(s): United States : New York : New York City
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.