What are the responsibilities and job description for the Compensation Partner, Vice President position at MUFG Bank, Ltd.?
Do you want your voice heard and your actions to count?
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.
Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.Main Responsibilities
Partner with HR and business leaders to design and deliver compensation programs/solutions in the business lines supported- Implement and execute the bank’s incentive governance framework for all business incentive compensation plans in assigned client groups
- Manage the incentive design process for the business lines’ incentive and commission plans, partnering closely with the business, finance, compliance, risk and the HR business partner as needed
- Research and resolve compensation related issues and propose alternative solutions and guidance. Recognize need for escalation
- Ensure compliance with all relevant regulations (e.g. FLSA) in assigned business lines
- Provide thorough analysis and review on all FLSA issues
- Enhance and implement the Bank’s market data approach. Conduct detailed market pricing and specialized analysis for assigned areas
- Participate in the annual market survey process
- Support the design of innovative compensation solutions to support assigned business lines, and provide compensation consulting to influence decision making
- Execute the annual pay review process effectively for assigned business lines
- Perform ad hoc analysis to support business needs
- Participate in the annual Focal Review process, determining key dates and events and provide business unit support
- Conduct detailed market pricing and specialized analysis for assigned areas
- Manage and support strategic projects for total rewards globally
- Manage outside vendor relationships as appropriate
- Manage internal vendor management and internal and external audit requests
Expected Functional Skills
Understanding of the financial services regulatory environment- Knowledge of FLSA and other applicable regulations
- Expertise in gathering compensation-related market and competitive intelligence including utilization of market surveys and market trends
- Proven ability to interpret and analyze compensation and labor market data to assess: comparable worth; benchmarking; internal alignment; external competitiveness
- Extensive knowledge of compensation philosophies/programs; compensation plans (salary; cost-of-living adjustment; merit increase; bonus structure; domestic workers; global workers; expatriates; executives; part-time employees)
- Advanced knowledge of deferred compensation; direct and indirect compensation
- Extensive knowledge of pay practices and issues: pay increases; base pay; pay levels; variable pay; pay compression; pay equity; pay transparency; market data
- Expertise implementing and tracking relevant compensation metrics and benchmarks (compa-ratio, etc.)
- Basic accounting and financial knowledge
- Strong client management skills
- Proficient with MS Office Excel, and PowerPoint
- Experience using Workday and Anaplan preferred
Expected Foundational Skills
Demonstrates leadership, ability to provide guidance to junior team members- Communicates effectively
- Identifies multiple paths to success using analytical and critical thinking as well as decision-making skills
- Operates strategically to support a culture of continuous improvement and systems thinking
- Makes sound business decisions in a complex work environment
- Collaborates with other business functions and divisions to advance business objectives
- Is flexible, decisive, and able to establish support from leadership
- Monitors industry trends and best practices and applies insights to advance the business
- Exhibits and fosters optimism, resilience, flexibility, and openness to others' ideas
- Inspires innovation and values learning as a lifelong professional objective
- Leads by example, engaging inclusively and with intent
- Always acts with integrity
- Ability to work with all levels of management and employees
- Team oriented
- Strong collaboration skills
Expected Work Experience & Education
B.A. or B.S., degree required- 7 plus years minimum of relevant work experience required (in Financial Services), supporting the Front Office Business groups preferred
- Knowledge of the Front office (Corporate Investment Banking, Markets & Securities) compensation and buyout processes, compensation design, governance and process/project experience
- Strong working knowledge of base pay, total compensation, organizational job review and structuring, external market data analysis, and compensation regulations
- Experience designing and implementing compensation solutions/programs
- Senior management committee support experience a plus
The typical base pay range for this role is between $150K - $195K depending on job-related knowledge, skills, experience, and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays. For more information on our Total Rewards package, please click the link below.
MUFG Benefits Summary
We will consider for employment all qualified applicants, including those with criminal histories, in a manner consistent with the requirements of applicable state and local laws (including (i) the San Francisco Fair Chance Ordinance, (ii) the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance, (iii) the Los Angeles County Fair Chance Ordinance, and (iv) the California Fair Chance Act) to the extent that (a) an applicant is not subject to a statutory disqualification pursuant to Section 3(a)(39) of the Securities and Exchange Act of 1934 or Section 8a(2) or 8a(3) of the Commodity Exchange Act, and (b) they do not conflict with the background screening requirements of the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA). The major responsibilities listed above are the material job duties of this role for which the Company reasonably believes that criminal history may have a direct, adverse and negative relationship potentially resulting in the withdrawal of conditional offer of employment, if any. The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified. We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual’s associates or relatives that is protected under applicable federal, state, or local law.Salary : $150,000 - $195,000
