What are the responsibilities and job description for the Director, Executive Compensation position at LyondellBasell Industries?
LyondellBasell
The Director of Executive Compensation will play a key leadership role in developing, implementing, and overseeing the organization's executive compensation strategy, ensuring alignment with business objectives, regulatory requirements, and industry best practices. This role is responsible for the design and administration of executive compensation programs, including base salary, bonuses, long-term incentives, benefits, and other rewards for senior leadership teams.
The Director will collaborate with internal stakeholders, including the Board of Directors, Senior Leadership Team, and external compensation consultants, to design competitive and equitable compensation packages that attract, retain, and motivate top-tier talent. This position requires a strategic thinker with deep expertise in executive compensation, a keen understanding of market trends, and the ability to analyze data to inform decision-making.
- Compensation Strategy & Design:
- Develop and implement executive compensation strategy, ensuring alignment with business goals, performance metrics, and talent acquisition/retention needs.
- Design competitive base salary structures, annual incentive plans, long-term incentive programs, and other forms of executive compensation, ensuring they are market-competitive and legally compliant.
- Lead the design and review of compensation packages for senior leadership positions.
- Market Analysis & Benchmarking:
- Conduct in-depth market analysis and benchmarking of executive compensation practices to ensure the company remains competitive in the talent marketplace.
- Stay current on trends, regulatory changes, and best practices in executive compensation to advise the organization on effective and innovative strategies.
- Performance Management & Alignment:
- Work closely with senior leadership to ensure that executive compensation programs are tied to company performance, individual performance metrics, and shareholder value creation.
- Assist in setting appropriate performance targets and aligning compensation with both short-term and long-term business objectives.
- Governance & Compliance:
- Ensure compliance with all applicable laws, regulations, and corporate governance standards, including SEC regulations, IRS rules, Dodd-Frank, and other relevant executive compensation guidelines.
- Collaborate with legal, finance, and accounting departments to ensure proper reporting, disclosure, and governance procedures are followed for executive compensation.
- Board & Stakeholder Communication:
- Provide appropriate updates to the Compensation Committee of the Board of Directors on executive compensation practices and programs.
- Prepare presentations and materials for the Board and Compensation Committee to facilitate informed decision-making on executive pay matters.
- Executive Compensation Administration:
- Oversee the day-to-day administration of executive compensation programs, including processing compensation data, managing compensation structures, and ensuring the timely and accurate delivery of executive pay.
- Collaborate with other HR functions to ensure integration of executive compensation programs with broader HR strategies.
- Internal Collaboration & Consulting:
- Partner with other senior leaders and HR colleagues to ensure alignment between executive compensation strategies and broader employee compensation initiatives.
- Act as a trusted advisor on compensation-related matters, providing insights and recommendations to leadership teams regarding compensation strategy and execution.
- Strong analytical skills with the ability to interpret compensation data and market trends.
- Excellent communication skills, with the ability to present complex compensation concepts to senior executives, the Board, and other stakeholders.
- Ability to collaborate effectively with cross-functional teams and external stakeholders (e.g., compensation consultants, legal advisors).
- Strong problem-solving abilities and attention to detail.
- Ability to make sound decisions in complex situations, balancing multiple competing interests (e.g., cost considerations, market competitiveness, regulatory compliance, and internal equity).
- Demonstrates strong discretion and ethical judgment when handling sensitive compensation data and discussions with executives, the Board, and external parties.
- Bachelor's degree in Human Resources, Business Administration, Finance, or related field.
- MBA or advanced degree in a relevant field preferred.
- Typically,15 years of relevant experiencewith at least 3 years in a leadership role.
- Proven experience in designing and administering executive compensation programs, including base salary, incentive compensation, and equity-based plans.
- In-depth knowledge of compensation laws and regulations, including SEC, IRS, Dodd-Frank, and tax-related matters.
- Languages English, additional language preferred
- Experience with compensation survey data, benchmarking tools, and financial modeling.
- Familiarity with compensation software and HRIS systems.
- Certification in compensation (e.g., CCP, GRP) is a plus.
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We are LyondellBasell - a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to champion our employees, and unlock value for customers, investors and society. LyondellBasell places high priority on diversity, equity and inclusion and is strongly committed to our planet, the communities where we operate and our future workforce. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
Must be at least 18 years of age and must be legally authorized to work in the United States (US) on a permanent basis without visa sponsorship.
LyondellBasell does not accept or retain unsolicitedresumes or phone calls and/or respond to them or to any third party representing job seekers.
LyondellBasell is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, age, veteran status, and other protected characteristics. The US EEO is the Law poster is available here.
