Compensation Manager

Lockton are currently recruiting for an experienced Compensation Manager to join our growing People Function. This is an excellent business-facing opportunity for a dynamic and extremely driven individual, joining a transforming and growing business at a pivotal moment in the development of our Reward framework across Lockton globally.

The successful candidate will manage the day-to-day delivery of work and projects for managing compensation related activities where initially this will be focused on the US.

This role will report directly into the Director for US Total Rewards and will work closely with the Global Head of Reward & Benefits as well as other members of the compensation team globally.

Given some of the complexities around managing the existing annual review process and deferred compensation arrangements, the successful candidate will also need to provide support and ongoing guidance across many key stakeholders and vendors including HR Business Leaders, Business Heads and COOs, Legal, Finance, HR Operations and Payroll.

From an HR systems & technology perspective this role will cover all compensation management platforms across deferrals, year-end recommendations and market pay tracking and submission.

In respect of leading and driving key projects this will include developing improved ways of managing and analyzing compensation benchmarking and pay analysis, job and role levelling and assisting with the development of new platforms / systems.

Role purpose

The Compensation Manager is responsible for managing key areas of Lockton’s compensation management and delivery process and framework.

The Compensation Manager will need to play a pivotal role in delivering the annual compensation review process, aligning with various internal and external data and levelling sources, as well as managing complex long-term incentive plans ( LTIPs") and taking ownership of the deferred compensation management tool, Principal.

Role Responsibilities

Interface with Business

• Ownership of all delivery aspects of deferred compensation plans (including LTIPs) including process, execution, reporting and analysis.
• Be the expert and provide consultation on all deferred compensation related matters to senior executives, stakeholders and other HR leaders and teams.
• Direct the salary survey process, participation, vender management and the move to Market Pay, for executing positions and provide evolving intelligence for the business as part of a globally minded levelling approach and structure.
• Deliver, alongside the broader compensation team, the ongoing and annual pay review processes for the Center and Business Series and Regions in a robust, accurate and timely manner working closes with locally based HR leaders.

This includes evolving the current annual compensation review platform, Payscale.

• Be focused on delivering a unique and best in class total compensation offering for Associates and Partners at Lockton.
• Partner with the business to provide advice and guidance on compensation, market and pay analysis and other compensation related activities.

Market and Pay Analysis

• Implement an integrated compensation framework as fit for local markets and jurisdictions.
• Lead on annual and ad hoc compensation survey submissions globally.
• Manage all relevant benchmarking analysis working closely with the local HR teams including presentation of findings to the HR Business Partners and business stakeholders.
• Provide guidance to Talent Acquisition, HR Operations & payroll teams as part of a robust approval process for new hires.
• Awareness of wider total reward initiatives and keen to build external relationships.

HR Systems / Processes / Projects

• Help lead on the implementation of new compensation tools.
• Own the Principal deferred compensation platform within a clearly defined process whilst developing strong guidance and communication opportunities.
• Ensure all compensation related processes systems offer a high level of user experience.
• Work closely with Finance, Legal and Payroll on monthly processes.
• Continuously strive to identify improvements in reward policy and process.

About You

Your knowledge and expertise :

Essential

• 10+ years in Compensation in growing organization.
• A depth of knowledge and expertise in deferred compensation programs including plan design, LTI, STI, and overall compensation strategy.
• Significant previous experience with implementing job levelling, market matching and submissions.
• Track record of regular interaction with senior-level executives and driving company-wide initiatives.
• Strong relationship builder, who thrives in a fast paced, collaborative environment.
• Highly analytical able to analyze large sets of data and identify key themes, anomalies and trends, and translate into summaries and proposals.
• Excellent at problem solving able to distil information from a variety of sources to diagnose problems and develop solution.
• Excellent Excel ability able to manipulate large data sets.
• Driven to make an impact leveraging data to drive proposals and challenge practices, to identify and drive high-impact solutions.
• Excellent communication skills able to articulate and advise on complex queries to a variety of audiences, including senior stakeholders.
• Commercial and client-focused ensuring a people perspective is at the heart of every solution.
• Excellent attention to detail ability to interpret large amounts of information quickly.

Desirable

Previous experience in the insurance broking industry.

• Global compensation experience strongly desired.
• Certified Compensation Professional (CCP) preferred.
• Change management exposure to projects involving change management and an understanding of how to effectively influence.

Experience with implementing various compensation management tools.