Job Details: COMPENSATION CONSULTANT
WHAT IS THE OPPORTUNITY?
Reporting to the Manager Compensation, the Compensation Consultant is responsible for providing analyses and consulting services to management in the design and implementation of compensation programs for assigned client groups consistent with organizational goals, the Bank’s total compensation philosophy and competitive market practices.
Collaborate and partner with Executives, Sales Management, Legal/Compliance, Finance, and HR Business Partners in the development and implementation of base pay and incentive programs.
Participate in or lead enterprise wide compensation initiatives, development of tools and processes such as employment offer and salary increase guidelines, compensation survey participation, competitive benchmarking, geographical pay differentials, salary structure development and maintenance, job family hierarchy, trainee and intern compensation, and special recognition programs.
Human Resources Division
Through this role, you will have the opportunity to make a difference as a member of City National’s Human Resources (HR) team, a diverse and dynamic group focused on supporting the full lifecycle of colleagues through an exceptional workplace experience.
WHAT WILL YOU DO?
Build relationships with client groups to understand the business and to institutionalize compensation processes and practices and provide on-going consultation.
Actively work with HR Business Partners and Talent Acquisition staff to ensure that compensation programs and practices are understood and supported.
Effectively manage client expectations regarding deliverables and consulting advice delivered.
Advise client groups and HR staff on a full range of compensation related areas including job evaluations, salary and incentive recommendations, FLSA, job titles, job levels, market position, employment offers, and special compensation issues such as colleague retention awards, internal equity, and regulatory and compliance requirements.
Consult with Talent Acquisition staff to review employment offers to ensure consistency with compensation guidelines and practices.
Write and edit job descriptions and level guides perform analysis of data obtained from surveys and determine competitive base salary, short-term and long-term incentives, title, salary grade, and FLSA status.
Consult with Legal Counsel as appropriate on final FLSA determination.
Conduct job evaluations and market-pricing analysis for making pay and salary grade recommendations, conducting internal equity analysis and making pay adjustment recommendations.
Review grade recommendations with Compensation team for jobs common across the company.
Participate in the HR system preparation for the annual review process including configuration, testing, validation, documentation to ensure tool is ready for users.
In collaboration with HR Business Partners, manage the Annual Review process for assigned client groups.
Counsel management on appropriate salary increases, bonus payment amounts, and stock awards based on performance level, , internal/external equity, and adherence to salary, bonus and stock pools; prepare worksheets, data, and other tools for managers; prepares analysis of changes to determine adherence to budget, performance rating distributions, etc.
Conduct research and provided data for company-wide strategy development such as the annual compensation benchmarking and recommendations for merit increase guidelines, and salary structure adjustment; research, monitor and track best practices, internal and external data trends.
Manage multiple compensation related projects ensuring that project goals are completed timely and efficiently.
Develop and implement compensation reporting and metrics.
Coordinate compensation operations (HRS job, bonus, and earnings code table maintenance), and compensation content on InfoLink and for the HR Manual.
Develop and maintain understanding of compensation practices and trends in the financial services industry.
WHAT DO YOU NEED TO SUCCEED
Must-Have*
Bachelor’s Degree Business Administration, Human Resources or related field
Minimum 4 years compensation experience in base pay administration and variable pay/incentive plan design/implementation.
High proficiency with HR systems and MS Office Excel including knowledge of pivot tables, formulas and functions required.
Skills and Knowledge
Demonstrated track record in base and variable pay design, development and administration; market analysis and pricing, salary planning and alternative reward and design techniques.
Knowledge of FLSA exemption requirements as well as other federal and state statutes and the ability to advise on their application.
Proven analytical and problem solving skills.
Strong communication skills including interpersonal, presentation, facilitation and written.
Project management skills.
Previous experience with HRS and Ultimate Compensation Management system
Advanced level HRS skills and experience with Microsoft Excel, Access, and Word.
Certified Compensation Profession (CCP) designation preferred
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification.
It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal.
Since day one we’ve always gone further than the competition to help our clients, colleagues and community flourish.
City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today.
City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.
In order to be hired and work at City National Bank, you must be fully vaccinated against COVID-19.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled