Location: New York,NY, USA
Responsibilities: Develop and implement compensation strategies and programs that align with the bank's goals and objectives. Conduct market analysis to ensure competitive compensation packages. Design and manage salary structures, incentive plans, and bonus programs. Ensure compliance with federal, state, and local compensation laws and regulations. Collaborate with HR and management to address compensation-related issues and provide guidance. Conduct regular reviews and audits of compensation programs to ensure effectiveness and equity. Prepare and present compensation reports and recommendations to senior management. Stay updated on industry trends and best practices in compensation management. Manage the year-end compensation process including bonus and merit pool analysis and enhancement of related year-end processes and communication. Work closely with the Finance department for budgeting and forecasting, and other functional areas, as it relates to Compensation. Proficiency in statistical analysis and data interpretation, predictive modeling, and market benchmarking. Provide support for the preparation of materials for the Leadership Development and Compensation Committee of the Board of Directors. Provide material support for the preparation of compensation disclosures in the bank's annual proxy statement, as well as the bank's annual report. Manage the bank's equity-based award process including coordination with the bank's third-party record-keeper. Demonstrate consistent initiative to take on additional tasks, projects, and initiatives outside of the specific portfolio of work, extending more broadly across Total Rewards and the People Experience Team. Requirements: Bachelor's degree in human resources, Business Administration, Finance, or a related field. Minimum of 5 years of experience in compensation management, preferably in the banking or financial services industry. Strong knowledge of compensation theories, practices, and regulatory requirements. Excellent analytical and problem-solving skills. Strong analytical skills and ability to analyze data to identify trends and patterns. Proficiency in HRIS and compensation management software - experience with Workday preferred. Ability to work in a very fast-paced environment and effectively manage competing demands. Strong interpersonal and excellent verbal, written, & presentation skills. Initiative-taker with the ability to multi-task with attention to detail while consistently delivering on agree upon timelines. Motivated, collaborator, willing to lead and remain involved at the detail level of work. Excellent time management skills with a proven ability to meet deadlines. Strong analytical skills and ability to analyze data to identify trends and patterns.