Compensation Director – Wholesale Banking

Language Fluency: English (Required)

Work Shift:

1st shift (United States of America)

Job Grade:

114

Please review the following job description:

Designs, delivers, communicates, monitors and/or administers broad-based programs and practices which may include but not limited to job attributes, pay structure, incentive plans, annual rewards and other compensation related programs. Develops and implements strategies for delivery of compensation to ensure competitiveness, appropriate linkages between pay and performance, and compliance with legal and regulatory requirements. Consults with Chief Human Capital Enablement Officers and Executive Leadership regarding ongoing compensation management, job evaluation, program/plan design, merit programs and other compensation related topics. Accountable for the effectiveness of compensation policies, procedures, and controls. Leverages a process improvement mindset to recommend efficient and effective ways to carry out core responsibilities. Works with compensation teammates to build strong partnerships across the team and the organization.

ESSENTIAL DUTIES AND RESPONSIBILITIES
1.    Responsible for developing and executing the organization’s compensation and rewards strategies to ensure that the organization has competitive compensation programs, policies and practices that meet the needs of the business.
2.    Lead the design and development of incentive plan programs, ensuring alignment to business strategy and appropriate risk balancing. 
3.    Provide for a collaborative approach to influence shared services compensation work through a strong partnership with Executive Leaders and business partners.  
4.    Identify, design and lead large, complex compensation related programs and projects (e.g. merger, salary structure, geographic differentials, internal equity, vendor selection and management) while completing in a timely, efficient and effective manner. 
5.    Responsible for managing annual compensation event for assigned business units. Ensure groups remain within budget and demonstrate a pay for performance approach to award allocations. 
6.    Partner closely with Executive Compensation, other areas of compensation and HR partners to deliver on the full suite of Rewards available to the organization. 
7.    Provide ongoing leadership, guidance, and empowerment to compensation consultants by providing the team with tools, knowledge and resources needed to perform as one team. 
8.    Develop, communicate and interpret compensation policies, procedures and regulations (e.g. Fair Labor Standards Act, Consumer Financial Protection Bureau, Interagency Guidance on Sound Incentive Compensation Policies) to establish and maintain uniform understanding and application within each Line of Business.

QUALIFICATIONS
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

1.    Bachelor’s degree or equivalent combination of education and experience.
2.    10 years of experience in Compensation, Total Rewards, or related field.
3.    Demonstrated proficiency developing Total Rewards/Compensation strategies to achieve operational and financial results. 
4.    Extensive experience in design and management of compensation (such as functional incentive plan design, executive compensation, etc.) tied to business and organizational strategies and management objectives. 
5.    Ability to lead large, highly complex projects of notable risk exposure. 
6.    Ability to influence others at senior levels to adopt a new perspective. Knowledge of the industry's competitive landscape and an understanding of the market and regulatory factors that shape the industry. 

Preferred Qualifications:
1.    12 years of experience as a compensation professional. 
2.   Prior compensation experience supporting one or more wholesale businesses (e.g. commercial banking, corporate and investment banking, wealth)
3.    Experience working in the financial services industry; professional certification in HR related discipline (PHR, SPHR, CCP, assessments, etc.).
4.    People management experience.

OTHER JOB REQUIREMENTS / WORKING CONDITIONS

Sitting
Constantly (More than 50% of the time)
Standing
Occasionally (Less than 25% of the time)
Walking
Occasionally (Less than 25% of the time)     
Bending
Occasionally (Less than 25% of the time)
Lifting
Up to 10 lbs.
Visual / Audio / Speaking
Able to access and interpret client information received from the computer and able to hear and speak with individuals in person and on the phone.
Manual Dexterity / Keyboarding 
Able to work standard office equipment, including PC keyboard and mouse, copy/fax machines, and printers.
Availability
Able to work all hours scheduled, including overtime as directed by manager/supervisor and required by business need.
Travel 
Up to 25%

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.