Director, Compensation

Benefits Overview

A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. When you choose a career with CoBank, you make a difference by standing for something that matters. In order to be the best, we hire the best!

Remarkable Benefits offered by CoBank

• Careers with a purpose- stand for something!
• Competitive Compensation & Incentive
• Hybrid work model – flexible arrangements for most positions
• Benefits Packages, including: Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
• CoBank University robust curriculum –associate training and development, including higher education tuition reimbursement
• Outstanding 401k – up to 6% matching and additional 3% non-elective contribution
• Time-Off Packages – Vacation 15 days, 10 Paid Sick Days, and 10 Paid Holidays
• Community Impact – United Way Angel Day, Volunteer Day and Associate Directed Contribution
• Associate Resource Groups – creating a culture of diversity and inclusion
• Recognize a fellow associate with “GEM” awards, including a monetary value

Job Description

At CoBank, Director, Compensation is responsible for the overall design, implementation and administration of CoBank’s cash compensation programs to support the bank’s compensation philosophy.  Reviews compensation programs, processes, structures, tools and market positioning to ensure effectiveness and support the bank’s efforts to attract, retain and reward talent and achieve the organization’s strategic objectives.  Ensures program and process alignment with legal requirements and corporate policies.  Participates in setting strategy for compensation programs and translates business issues into compensation solutions.  Provides proactive consultation to various business units on total compensation issues.  Prepares reports/presentations for various audiences including associates, management, executive leadership and the board of directors.  Selects and utilizes compensation resources that are appropriate to represent the bank’s market approach to compensation.  Effectively partners with leadership, aligning salary and incentive compensation design initiatives with business goals and objectives.  Responsible for the leadership, management and development of a team of compensation professionals.

Essential Duties and Responsibilities:

• Designs, administers and implements the corporate compensation program in support of the bank’s pay-for-performance philosophy.  Evaluates and recommends policies and procedures that align the compensation programs with the bank’s strategic initiatives, team performance and engagement.
• Reviews internal equity, external market competitiveness, and assures compliance with all applicable federal and state laws.  Researches best practices, market trends and economic conditions, and applies findings to develop and tailor compensation programs to facilitate the bank’s ability to attract, engage, retain and reward employees.
• Recommends new approaches, policies, programs and procedures to implement best practices and facilitate continuous improvement.
• Delivers proactive consultation, and develops and provides periodic and special reports covering compensation management issues to management and executives. 
• Develops cost/benefit models that provide return on investment and facilitate employee engagement.
• Provides support for broad-based and executive compensation programs and reporting to the bank’s board of directors, Compensation and Human Resources Committee, and bank leadership.
• Prepares materials describing compensation programs, pay practices, and performance management programs for internal publications, the intranet, and human resources training programs.  Educates management, staff, and other HR professionals regarding compensation policies, practices and strategies.  Delivers training programs to CoBank managers and associates covering CoBank’s compensation philosophy.
• Partners with the Talent Management team to facilitate reorganizations, implement annual compensation programs, standardize the application of job leveling/hierarchy and career ladders, and drive HR cross-functional initiatives.
• Manages and develops a team of compensation professionals.  Sets performance standards, manages workflow, evaluates performance, and recommends personnel actions within delegated authorities.

Basic Qualifications 

• Bachelor’s degree in business, human resources, or finance, preferably in the financial services industry.
• Twelve (12) or more years of experience in compensation, including experience with market analysis, regulatory requirements, and compensation program administration; or an appropriate combination of education and experience.
• Five (5) or more years of management experience. 

Preferred Qualifications 

• Master’s degree preferred.
• Certified Compensation Professional (CCP) designation preferred.
• Advanced knowledge and expertise in compensation principles and programs, and applying best practices to the compensation profession.
• Proven ability to implement and manage enterprise-wide compensation programs.
• Working knowledge of performance management, human resources systems, human resources administration practices, and executive compensation.
• Proven ability to effectively represent compensation decisions and balance organizational philosophy with business and strategic objectives.
• Strong organizational and project management skills, including the ability to manage workloads and budgets, and prioritize and communicate tasks for multiple projects across the team and for other stakeholders.
• Excellent leadership, people management and organization development skills, with a demonstrated ability to motivate in a team-oriented and collaborative work environment, and promote, foster and build a diverse and inclusive workforce.
• Strong business acumen, with advanced technical, analytical and research skills.
• Excellent verbal and written communications and presentation skills.
• Excellent interpersonal skills, with the ability to build effective relationships with all levels of management, staff, external customers and vendors, and to work effectively with diverse teams.
• Excellent customer focus and detail orientation. 
• Ability to work independently as well as collaboratively in a team environment.
• Knowledge of Microsoft Office applications (Outlook, Word, PowerPoint and Excel).

About CoBank

CoBank stands strong as a $135 billion enterprise dedicated to the financial needs of rural America. As a national cooperative bank and a proud member of the Farm Credit System it is our mission to serve as a relevant and dependable provider of credit and other value-added financial services. From our headquarters in Denver, Colorado and our regional banking centers across the US, CoBank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states.

CoBank will not sponsor a work visa (e.g. H1B, etc.) to fill this position.

CoBank is an Equal Opportunity Employer.

CoBank requires all newly hired associates to be fully vaccinated against COVID-19, and new hires will be asked to register their proof of vaccination.  Any offer of employment will be conditioned upon an applicant supplying proof of vaccination against COVID-19; provided, however that CoBank may provide a reasonable accommodation for an applicant’s known disability or sincerely held religious belief.