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Director of Partner Compensation, Pension and Payroll
3 months ago
Keen to become part of a truly global, collaborative team of professionals? Your journey begins here.
All candidates should make sure to read the following job description and information carefully before applying.
The Director of Partner Compensation, Pension and Payroll is responsible for providing strategic direction, development of key functions and execution of initiatives which are aligned with business objectives and legal requirements.
This role directs the overall management, communication, compliance and administration of compensation and retirement programs while interacting with all levels of the firm's leaders, members of various Boards, across functions and employees.
Job Responsibilities:
- Lead the development of department goals, objectives, and procedures for skilled staff of 12 (including 3 managers) who manage and execute the firm's payroll and retirement plans for Partners, Associates, Counsel, Senior Counsel, executives and business team staff.
- Oversee financial accounts related to payroll and capital (partners' distributions and deductions), and monitor and report on those accounts for leaders and partners of the firm.
- Develop and monitor an annual budget that includes staffing, continuation of learning, Retirement Program campaigns, and administration.
- Direct and communicate high-level compensation structure and the details associated with partner/executive compensation, deductions (before and after tax), taxable earnings, and variances against forecasts.
- Ensure the firm is compliant with all federal, state, and local regulations, filings, reports, and audits related to the administration of employee payroll and pension benefit programs, including ERISA. Ensure all plan documents and Summary Plan Descriptions are complete and updated, 5500 Filings are filed accurately and in a timely manner, discrimination testing has been conducted, and oversee annual plan audits.
- Oversee multi-state, semi-monthly, bi-weekly and monthly payrolls for 2500+ staff members including on-demand checks and manual earnings adjustments, including garnishments, benefits, and taxes.
- Partner closely with the tax team to ensure that all tax positions of partners are appropriately communicated and the firm's financial statements are stated correctly.
- Partner closely with the Pension Committee. Ensure accurate and efficient benefits administration with a high level of customer service; continuously review process and service for areas of improvement.
- Research and resolve all escalated requests related to administration of partner compensation, payroll and retirement program.
- Manage relationship with key vendors in the payroll and pension space (including but not limited to Workday, OSV, Alight, Fidelity, trustee and custodians, bankers, plan actuaries, plan auditor, consultants, record-keepers, etc.); Oversee the request for proposal (RFP) process when selecting new vendors or confirming that existing relationships are competitive.
Qualification:
- Bachelor's degree in accounting, finance, or related field required.
- Requires a minimum of 10 years of relevant experience in financial management and business operations, including in-depth experience in partnership compensation structure and taxation.
- Experience working with human resource applications, preferably Workday. Experience with financial management systems such as 3E Business Finance Systems.
- Excellent conceptual and proactive thinking, strategic planning and project management skills.
- A highly developed interpersonal, analytical and communication skills (verbal and written).
- Solid accounting and reporting skills coupled with strong analytical and budgetary experience.
- Ability to develop and present complex information to executive level audience.
- An entrepreneurial and customer-service driven approach to compensation and retirement plan administration.
- Strong organizational and decision-making skills.
- Must maintain a quality work product in a time-sensitive environment, therefore, time management and ability to multi-task is necessary.
Hours:
Core hours are Monday through Friday, 9:00 a.m. to 6:00 p.m.
It is the policy of Hogan Lovells to provide equal opportunities for all employees in relation to recruitment, training and promotion. Decisions in these areas will be made only by reference to the requirements of the job and shall not be influenced by any consideration of age, disability, ethnic origin, gender identity, religion, sex or sexual orientation.
Hogan Lovells is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, pregnancy, age, national origin, disability, sexual orientation, gender identity or expression, marital status, genetic information or protected Veteran status.
