Job description

Position Overview: As the Vice President of Total Rewards, you will be responsible for leading the development, implementation, and management of comprehensive compensation and benefits programs. Reporting directly to the Chief Human Resources Officer, you will play a crucial role in attracting, retaining, and motivating top talent within the organization while ensuring competitive compensation practices and compliance with regulatory requirements.

Key Responsibilities:

Compensation Strategy and Management:

Develop and execute a strategic compensation framework aligned with the organization's objectives and industry benchmarks.
Lead the annual salary review process, including market analysis, merit increases, and bonus allocations.
Partner with senior leadership to design and implement executive compensation programs that drive performance and align with shareholder interests.
Provide guidance and support to HR Business Partners and managers on compensation-related matters, including job evaluations, salary offers, and promotions.
Monitor and analyze compensation trends and make recommendations to ensure competitiveness and equity across all levels of the organization.

Benefits Management:

Oversee the design, administration, and communication of employee benefits programs, including health, wellness, retirement, and other fringe benefits.
Evaluate and benchmark benefit offerings to ensure they remain competitive and cost-effective.
Collaborate with external vendors, brokers, and consultants to negotiate favorable terms and manage relationships.
Stay abreast of legislative changes and industry trends affecting employee benefits, and ensure compliance with applicable regulations.

Workday Compensation Implementation:

Lead the successful implementation of Workday Compensation module, collaborating with cross-functional teams including HRIS, IT, and Finance.
Help design and configure compensation structures, merit cycles, bonus plans, and equity programs within the Workday platform.
Provide subject matter expertise and guidance to project teams during system configuration, testing, and deployment phases.

Qualifications:

Bachelor's degree in Human Resources, Business Administration, Finance, or related field; Master's degree preferred.
10+ years of progressive experience in compensation, benefits, and HRIS management, preferably in the banking or financial services industry.
Demonstrated expertise in designing and implementing compensation strategies, including executive compensation and incentive plans.
Proven track record of managing comprehensive benefits programs and vendor relationships.
Hands-on experience with Workday HCM and Compensation module implementation and administration - preferred
Strong analytical skills with the ability to interpret data, perform market analysis, and make data-driven recommendations.
Excellent communication and influencing skills, with the ability to interact effectively with all levels of the organization.
Certified Compensation Professional (CCP) or Certified Benefits Professional (CBP) designation preferred.