What are the responsibilities and job description for the Director of Compensation position at SouthState Bank, N.A.?
As a leading regional bank, SouthState has been providing financial solutions to individuals, families, and businesses in the Southeast for more than 100 years. SouthState team members strive to create remarkable experiences while building meaningful and lasting relationships. We are proud to be a reflection of the communities we serve, and our team members share core values that make SouthState a great place to bank, and a great place to work.
SUMMARY / OBJECTIVES
The Director of Compensation is responsible for designing, implementing, and managing compensation programs that attract, retain, and motivate employees. This role ensures that the bank's compensation practices are competitive, equitable and align with overall business strategy and do not promote excessive risk taking. Ensure compliance with SouthState Bank Code of Ethics and other operating procedures.
ESSENTIAL FUNCTIONS
1. Develops and implements a comprehensive compensation strategy that aligns with the bank's goals and objectives.
2. Conducts market analysis to ensure compensation programs are competitive and in line with industry standards.
3. Oversees the job evaluation process including job analysis, grading and classification as well as the overall salary grade range structure.
4. Manage salary administration programs including salary increases, promotions, adjustments.
5. Works with Executive Leadership and Business Unit owners on the design and management of incentive and commission programs and other performance-based compensation such as the Long Term Incentive plan. Ensures compliance with Incentive Compensation and Incentive Program documents and updates these on annual basis or as needed.
6. Meets with business units on the incentive accrual projections and provides feedback to finance for incentive accrual calculations.
7. Coordinates the agenda and provides materials for the Incentive Compensation Committee, Incentive working Group and the Compensation Committee for the Board of Directors.
8. Works with the Business Unit Incentive Plan owners to conduct annual risk assessments of incentive plans for approval of Chief Risk Officer.
9. Oversees the completion of deliverables for the annual CDA of the Proxy.
10. Oversees the administration of the Omnibus Incentive Stock Plan and the issuance of stock grants related to incentive plans, M&A and discretionary awards, in addition to overseeing the process for forgivable loans.
11. Participates in merger due diligence and leads the compensation workstream during the integration process.
12. Collaborates with the Executive Team, Business Units, Finance team, Audit / Risk and HR team.
13. Provides leadership to the compensation team.
14. Performs other duties that are deemed to be essential.
COMPETENCIES
- Strategic Thinking
- Analytical
- Problem Solving
- Financial Acumen
- Excellent interpersonal and communication skills, written and verbal
- Excellent Organizational skills and detail oriented.
- Ability to work in a fast paced, changing environment.
- Effective leadership skills required.
QUALIFICATIONS, EDUCATION, AND CERTIFICATION REQUIREMENTS
TRAINING REQUIREMENTS / CLASSES
Required annual compliance training, New Employee Orientation
PHYSICAL DEMANDS
Must be able to effectively access and interpret information on computer screens, documents, reports, and cash denominations, and identify customers. This position requires a large amount of time in front of a computer. This can be done sitting or standing with use of the right desk.
WORK ENVIRONMENT
Telecommuting roles no matter if hybrid or 100% full time telecommuting must have a secure home office environment that is free from background noise and distractions. They must also have a reliable private internet connection that is not supplied by use of cellular data (hot spot). Cable or fiber connections are preferred. Requirements are subject to change, as new systems and technology is delivered.
TRAVEL
Travel may be required to come to meetings as needed.
The information below is to be updated by the HRBP and HR Compensation team only.
