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.
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.