Director, Total Rewards at OCC
OCC, founded in 1973, is the world's largest equity derivatives clearing organization. OCC is dedicated to promoting stability and financial integrity in the marketplaces that it serves by focusing on sound risk management principles. We serve 16 options exchanges, 2 futures exchanges and 1 stock loan alternative trading system. OCC has over 100 clearing members, including several of the largest U.S. broker-dealers.
What We Offer
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include:
- A hybrid work environment, up to 3 days per week of remote work
- Tuition Reimbursement to support your continued education
- Student Loan Repayment Assistance
- Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
- Generous PTO and Parental leave
- Competitive health benefits including medical, dental and vision
What You Will Do
The Director, Compensation will partner with the ED, Talent Management & 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.
Manage OCC’s Rewards & Recognition programs.
Partner with Information Technology and HRIS to define and implement merit, promotion and bonus planning process configuration(s) in Workday.
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.
What We Need:
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.
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.
8+ 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.