Compensation Manager
3 weeks ago
"Republic Bank believes in the development and advancement of our associates.We offer the opportunity to learn all aspects of the company to prepare for future advancement.Come join our team for a career, not just a job"
Grade 13
About Republic Bank
Republic Bank's values are built upon making an IMPACT for our clients, our associates and the communities we serve. (IMPACT stands for
I nnovate for the Future,
M ake it Easy,
P rovide Exceptional Service,
A cknowledge & Celebrate Success,
C ommit to Caring and
T hrive Together) The associates of Republic Bank are the key to our success as an organization and we value our associates. It's one of the reasons we've been named as one of the Best Places to Work in Kentucky for the last seven years For more information about the company, please visit www.republicbank.com.
POSITION PURPOSE AND OBJECTIVES:
The Compensation Manager is responsible for compensation planning, long term incentive plans, and Executive Compensation. Additionally, this role will research job requirements and evaluate job positions against benchmarks to ensure the company is competitive in the areas of salaries. This position will also be responsible for implementing controls and processes to ensure compensation plans are meeting the bank's strategic business objectives.
MINIMUM QUALIFICATIONS:
Minimum of 5 years' experience with salary modeling, compensation planning, incentive/bonus plan design, Executive compensation, and compensation analytics required.
Proven experience with salary planning tools and methods, job evaluation techniques, and market salary trends; ability to design and implement salary programs required.
Extensive knowledge of quantitative and qualitative research methods required.
Proficiency in Microsoft Word, Excel, PowerPoint, and Outlook is required.
Professional certification related to compensation such as Certified Compensation Professional CCP, preferred.
ESSENTIAL JOB FUNCTIONS AND RESPONSIBILITIES:
Strategizes with management to design and administer compensation and incentive programs that reinforce the company's culture, values, talent needs, in line with strategic growth plans.
Assures through audits, analysis, and reports that all compensation programs are consistently administered in compliance with company policies and regulatory requirements.
Makes pay recommendations for job offers, including reviewing requests for promotion or job changes, to provide guidance on salary adjustment decisions. Ensures pay adjustments and salary requests comply with current compensation policy to ensure internal pay equity and effectiveness in attracting/retaining talent.
Evaluates and implements compensation systems and tools.
Collaborates with the Director of Employee Relations to manage the annual associate compensation review process.
Conducts compensation modeling, salary benchmarking data, and internal and external equity surveys including equity and wage compression analysis and conduct modeling to determine the financial impact of compensation related recommendations.
Manages and provides necessary information to the company's Board Compensation Committee to allow for oversight and approval of executive and other compensation plans and programs.
Actively leads all compensation surveys, performs survey job matching, and conducts ad-hoc benchmarking and market research as needed to ensure market competitiveness.
Evaluates job titles and corresponding job descriptions for each position in the organization; ensures descriptions accurately reflect the work being performed by incumbents to determine appropriate pay and proper FLSA exemption status.
Prepares and presents summary reports of job analysis and compensation analysis information.
Manages the company's EEOC reporting and affirmative action planning.
Maintains a working knowledge of compliance requirements affecting your position and area of responsibilities and actively learns new regulations and assists in the implementation, if required.
Models and fosters behaviors that support the Bank's values and corporate culture creating an atmosphere of trust, cooperation, accountability, and dedication to the organization.
Willingly performs all other duties and projects as assigned.
INTERPERSONAL SKILLS AND COMPETENCIES REQUIRED:
Strong analytical, critical thinking and judgement skills in analyzing and responding to changes in process, people, and technology.
Excellent written and verbal communication skills, business knowledge, and ability to work in fast paced, constantly changing environment.
Exceptional time management skills and ability to prioritize tasks with competing deadlines.
Ability to maintain confidentiality and appropriately handle sensitive information with tact and discretion.
Ability to work independently while also being able to work in a cross-cultural team.
PHYSICAL REQUIREMENTS:
The physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this position, the associate is regularly required to sit, use hands to finger, handle, or feel; and talk or hear. The associate frequently is required to stand or walk. The associate is occasionally required to reach with hands and arms. The associate must occasionally lift and/or move 10 pounds. Specific vision abilities required by this position include close vision, and distance vision. The noise level in the work environment is usually moderate.
OTHER REQUIREMENTS:
Travel between Republic Banking facilities may be required.
Occasional out-of-town travel may be required.
Flexible work schedule that will include some evenings and weekends.
Stay abreast of new developments, best practices, and statutory and regulatory changes.
**The above is intended to describe the general content of and requirements for the performance of this position. It is not construed as an exhaustive statement of duties, responsibilities, or requirements.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
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