Director. Compensation at OCC

| Chicago
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Summary

The Director, Compensation will partner with the FVP, Total Rewards, to define and implement OCC's compensation strategy so that outcomes meet current and future business needs and are consistent with the desired internal and external market position. Design and implement compensation programs, including incentive compensation plans with deferred compensation features, to meet objectives with regards to internal equity and external market competitiveness. This position will define and lead all compensation processes and programs, including job evaluation, salary administration, short-term and long-term incentive plans, and executive compensation along with leading the redesign of OCC’s job framework and salary grades. Partner with Talent Acquisition and Talent Management to ensure the compensation strategy is implemented effectively, within established budgets and complies with all relevant regulations, laws and employment standards.

Primary Duties and Responsibilities:

To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.

  • Plan, develop and implement new and revised compensation programs (e.g., annual, mid-year, etc.), policies and procedures, to be responsive to OCC's goals and competitive practices.
  • Partner with Talent Management and Talent Acquisition, business leaders and outside consultants as appropriate to define and implement market-competitive job leveling guidelines, which results in are more dynamic job hierarchy that provides both lateral and vertical avenues for career advancement.
  • Define and implement a sustainable process for maintaining the integrity of the job hierarchy, including a system for maintaining all job descriptions.
  • Complete compensation market surveys and analyze survey results to select appropriate job matches and create competitive salary ranges for all jobs.
  • Analyze and evaluate external market data and internal data about the current and projected employee population to determine salary budgets and forecasts and establish salary planning guidelines.
  • Partner with Finance to determine the annual discretionary bonus pools by job level and bonus planning guidelines.
  • Develop and lead manager level compensation training and communication in support of compensation administration.
  • Provide leadership, guidance, direction and coaching to the Compensation Analyst.
  • Review, manage and lead the enhancement of OCC’s Rewards & Recognition program (i.e., spot awards, Commitment to Excellence and OCEO awards, etc.).
  • Partner with Information Technology and HR Operations Manager to define and implement merit, promotion and bonus planning process configuration(s) in HRIS.
  • Partner with the Head of Total Rewards and Accounting to ensure that executive deferred compensation is effectively administered.
  • Consult with Talent Acquisition to evaluate job descriptions, determine FLSA status and compensation grade, and recommend compensation for job offers.
  • Consult with Talent Management to develop and implement compensation strategies appropriate for department needs and consistent with OCC's overall Total Rewards strategy.
  • Select and manage relationships with consultants and suppliers to ensure satisfactory standards of service.
  • Monitor compensation actions through audits, reports and personal contact to ensure that OCC compensation programs are consistently administered in compliance with OCC policies and government regulations.

Supervisory Responsibilities:

TBC

Qualifications:

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

  • Strong analytical and statistical skills.
  • Attention to detail extremely important.
  • Ability to summarize complex analysis using charts and graphs to highlight important insights and trends.
  • Skilled in maintaining high-degree of confidentiality relative to personal data and information maintained in the HR systems.
  • Understanding of government regulations as they apply to compensation, including The Fair Labor Standards Act (FLSA), The Equal Pay Act, The Uniformed Services Employment and Reemployment Rights Act of 1994, The National Labor Relations Act, base pay, overtime, shift pay and incentive compensation.
  • Ability to communicate effectively orally and in writing.
  • Familiarity with other areas of Human Resources (i.e., recruiting, benefits, leave administration, and training, etc.), and other Human Resources laws (e.g., ADEA, ADA, Title VII of the Civil Rights Act, etc.).
  • Experience interacting with and presenting to senior business leaders.

Technical Skills:

  • Expert level Microsoft Excel skills, including formulas, macros, pivot tables and V-Lookup features.
  • Strong capability with other Microsoft Office products (Outlook, Word, PowerPoint).

Education and/or Experience:

  • Bachelor's degree or equivalent in Business, Human Resources, Finance or related field.
  • 2-4 years of experience managing compensation with the support of an Enterprise Compensation Management (ECM) tool (e.g., PeopleSoft, UltiPro, Workday).

Certificates or Licenses:

  • Certified Compensation Professional (CCP) designation preferred.

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Location

Adjacent to the Willis Tower, close to CTA, Metra and expressways with plenty of food and entertainment options nearby.

An Insider's view of OCC

What are some social events your company does?

Monthly happy hours, summer and winter outings and cultural celebrations to honor our diverse workforce.

Yemi

Director, Diversity and Inclusion

What are OCC Perks + Benefits

OCC Benefits Overview

Educational Assistance and Student Debt Forgiveness, 12-week paid parental leave, technology stipend up to $2,000, mobile data reimbursement of $35 per month. Open offices, online health coaching.

Culture
Volunteer in local community
Each year, OCC employees select a locally-based charitable organization for each of our three offices (Chicago, Dallas and Washington, D.C.). We offer multiple opportunities to get involved.
Friends outside of work
Daily stand up
Open door policy
Team owned deliverables
Team based strategic planning
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Someone's primary function is managing the company’s diversity and inclusion initiatives
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Retirement & Stock Options Benefits
401(K)
401(K) Matching
OCC provides employees with a 401(k) matching plan managed by Fidelity. We match 50% of contributions up to 6% of an employee's annual gross pay.
Performance Bonus
Match charitable contributions
Child Care & Parental Leave Benefits
Flexible Work Schedule
OCC provides employees with a flexible work schedule that includes Flexible start and end times.
Vacation & Time Off Benefits
Generous PTO
OCC employees receive between 22 and 32 days per year of paid time off based on years of service.
Paid Volunteer Time
Our employees receive 8 hours per year of paid volunteer time.
Sabbatical
Eligible employees get 30 days of paid sabbatical after their first 10 years of working at the company.
Paid Holidays
Perks & Discounts
Commuter Benefits
OCC Offers pre-tax commuter benefits for employees in Chicago and Washington, D.C.
Happy Hours
Happy hours are hosted Once per month.
Relocation Assistance
OCC offers relocation assistance which varies based on the position level and location.
Professional Development Benefits
Job Training & Conferences
OCC offers employees professional development opportunities including onsite training courses and the ability to attend job related certification courses, conferences and seminars.
Tuition Reimbursement
Our tuition reimbursement plan offers an annual max of $1000.
Lunch and learns
OCC hosts leadership lunches on a regular basis so you can learn about your colleagues and their unique backgrounds.
Cross functional training encouraged
Promote from within
Online course subscriptions available
Customized development tracks
Paid industry certifications
Employees are strongly encouraged to stay current in relevant technologies and supports certification programs.
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