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Compensation Consultant

MANULIFE FINANCIAL

Toronto, ON, CANADA | Boston, MA, USA
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If you are the type of person who thrives on change, growth and opportunity, and are interested in a career in the financial services industry, Manulife is the place for you.

 

  

Compensation Consultant-1403549
 

Description

 

General Accountability:

 

The Global Performance & Rewards Centre of Expertise is responsible for developing strategies, policies, programs and implementation guidelines on compensation, pension and benefits programs to drive employee performance and sustain Manulife's ability to attract and retain talent worldwide. Global Performance & Rewards works closely with HR Business Partners, other areas of HR, and senior leaders and managers in the delivery of programs worldwide. Global Performance and Rewards also plays a key role in program governance, compliance and reporting and consults to senior management and the Board on executive compensation and pension matters.

Reporting to the AVP Program Management and HR Due Diligence, a pool of Compensation Analysts will provide research, analysis, and execution support to Executive Compensation, Investment Compensation and Staff Compensation teams.  The Sr Compensation Analyst provides highly specialized support working with the Investment Compensation team.  This includes market studies specific to Investment Compensation programs, management of sales incentive programs and deferred incentive programs, job evaluation, and participating in the annual compensation cycle.

 

The position provides significant opportunities for career growth and skills development in HR and compensation.

 

Responsibilities:

1. Deliver strong analytical and research support on internal compensation issues, market data, salary surveys and compensation practices in collaboration with compensation partners and HR business partners to make recommendations and influence business decisions.

 

2. Assist in the coordination and delivery  of compensation programs such as annual compensation cycles.  Manage specific processes as assigned to their successful and timely completion.

 

3. Responsible for participating in compensation surveys, research and benchmarking initiatives, evaluate and recommend survey sources. Conduct job matching in collaboration with compensation and HR partners, compile data submission files and ensures timely and accurate submissions of surveys. Assist in the study and analysis of survey results.  Provide market data analysis by position and assist in recommending changes to maintain the organization's competitive position in the marketplace.

 

4. Administer the deferred incentive plan process globally, including working with various stakeholders to collect key information (revenue, performance data, allocations) to develop a compensation model for determining accruals, grants, etc.; manage/monitor the plan on an ongoing basis.

5. Work closely with other departments such as Performance Measurement and Analytics, Finance to get their support in the administration of incentive programs.

6. Prepare materials and presentations for compensation reviews.

 

7. Provide / update communication materials as appropriate.

 

8. Create and deliver timely and accurate reports relevant to the compensation function in order to support business and HR needs. Field routine requests for compensation data.

 

9. Develop an in-depth understanding of the HRIS system and coordinate problem resolution. Audit data in compensation related databases to ensure accuracy, consistency and currency, and support compensation consultants in reviewing incentive and equity plan assignments. 

 

10. Propose and implement changes to processes to improve quality of data, reduce response times and eliminate unnecessary tasks. Assist in the coordination and delivery of departmental projects that may encompass any aspect of total compensation. Manage assigned initiatives/projects to successful and timely completion. Participate in major ad hoc projects and lead smaller projects.

11. Other compensation related duties and projects as assigned.

 

 

Qualifications

 

Knowledge/Skills/Competencies/Education:

 

. Post-secondary degree and/or the equivalent combination of education/experience/training. Working towards or completed CCP or CHRP designation would be an asset.

 

. 3 to 5 years of experience in an Analytics role with a broad business knowledge.  Understanding of HR and compensation function is preferred.

 

. Knowledge of investment management industry would be valuable

 

. Highly numerate, with advanced Excel skills; Ability to work with Macros and Databases would be desirable

 

. Excellent analytical and problem-solving skills with strong attention to detail

 

. Ability to make recommendations based on interpretation of quantitative analysis

 

. Strong customer focus and excellent communication skills - both oral and written

 

. Ability to handle a multiple tasks at once and work under strict deadlines. Ability to prioritize and plan work to meet time-based deliverables

 

. Ability to work with highly confidential information with professionalism and tact

 

Problems/Challenges:

 

1. Analyze complex compensation data and provide recommendations within strict, short timelines.

 

2. Ensure data integrity while coordinating information from multiple sources across the company.

 

3. Manage relationships with internal clients and work with manager on conflicting priorities.

 

Position Dimensions (Organizational Impact):

 

. Supports global compensation team that impacts over 26,000 employees

 

. Provides reports, data and information that impact compensation decisions

 

This Position Description is intended to describe the general nature and level of the work being performed by employees in this job. It is not intended to be a complete list of all responsibilities, duties and skills required for this job classification.

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