Executive Compensation Director

1 day ago

Downers Grove, Illinois, United States Dover Corporation Full time
About Dover Corporation

Dover is a diversified global manufacturer with annual revenue of approximately $8 billion. We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging and Identification, Pumps & Process Solutions and Refrigeration & Food Equipment.

Our team of approximately 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Dover is headquartered in Downers Grove, Illinois, near Chicago.

Position Summary:

We are seeking an experienced, dynamic and strategic Director, Executive Compensation to manage major executive compensation initiatives and programs. The ideal candidate must possess the ability to analyze data and to utilize that data to communicate findings and influence decision making at senior executive and Board levels.

This role develops, implements, and administers executive compensation policy and practices. Applies job evaluation techniques to establish equitable compensation for the organization's executives as compared to the market.

Key Responsibilities:
  • Provide strategic direction to executive compensation for Dover to effectively evaluate, design, propose, implement, and communicate programs, policies and initiatives that will enable the company to attract, retain and motivate top talent.
  • Liaison with OpCo's and enterprise functions to ensure similarities in design of programs and practices where applicable and create efficiencies throughout the family of companies.
  • Monitor the effectiveness of existing executive compensation practices, policies, guidelines and procedures and works closely with HR leadership teams to ensure that documentation, communication, and training are delivered to all parts of the business.
  • Provide thought leadership to internal partners around metrics, trend analysis and strategies to develop plan designs and that motivate and drive increased performance.
  • Regularly interface with Compensation Committee of Dover's Board of Directors, leading design, quarterly reviews and executive compensation.
  • Ensure that executive compensation programs are consistently administered and compliant with company policies and government regulations.
  • Responsible for overseeing compensation events including the annual merit, bonus and LTIP cycle, and delivery at the Dover Compensation Committee meetings.
  • Assist in the preparation of the annual Proxy filing.
  • Lead overall design, implementation, communication and administration of executive and performance compensation programs globally.
  • Partner with Dover's Executive Compensation Consultants to review market analysis and benchmarking to ensure competitiveness.
  • Collaborate with senior leadership and the Board of Directors to develop and approve executive compensation plans and modifications.
  • Oversee the administration of executive compensation programs, including salary planning, incentive plan administration, and equity award processes.
  • Update on progress of annual results and performance-based RSUs.
  • Ensure compliance with all relevant regulations, including SEC reporting and disclosure requirements.
  • Manage the annual compensation review process for executives.
  • Prepare materials for the Compensation Committee of the Board of Directors, including executive compensation proposals and analysis.
  • Ensure adherence to corporate governance standards and regulatory requirements, including working with Legal to complete the proxy.
  • Stay informed about trends, regulatory changes, and best practices in executive compensation.
  • Develop clear and effective communication strategies for executive compensation programs.
  • Serve as a subject matter expert to executives, HR partners, and the Compensation Committee.
  • Provide guidance and support to HR and finance teams on compensation-related matters.
  • Evaluate the effectiveness of executive compensation programs in driving performance and achieving business goals.
  • Lead a small team of direct and matrixed compensation professionals to develop, implement, and evaluate global compensation policies and programs in support of company objectives and local practices with a focus on Executive comp programs.
  • Provides senior leadership with ongoing thought leadership, insight, and consultation.
  • Intimately understanding and creatively able to educate/communicate on market practices/trends impacting our industry and the business.
Desired Knowledge & Experience:
  • 15+ years of complex compensation design, including global pay programs, variable, equity and executive compensation experience
  • 10+ year of progressive management responsibility and extensive experience in implementing and overseeing global compensation programs with global orientation, perspective and awareness
  • Extensive experience in executive compensation, with a solid understanding of compensation principles and best practices. Exceptional analytical skills and the ability to interpret complex financial data.
  • Excellent communication and presentation skills, with the ability to influence and build relationships with senior leaders and Board members.
  • Knowledge of all federal, state, and local regulations and compliance requirements and governance standards related to executive compensation.
  • Demonstrated ability to collaborate effectively with cross-functional teams, including HR, legal and finance.
  • Strong business acumen and creative thinking to help design and position solutions as value-add and drive global organizational change
  • Understanding of equity-based compensation vehicles with regards to cultural fit, local practices, tax and accounting regulations
  • Excellent presence, outstanding communication and interpersonal skills to effectively interact with Executive management and all levels of employees
  • Strong influencing, negotiating and collaboration skills
  • High level of integrity, discretion and professionalism in handling confidential information.
Education:

Bachelor's degree or equivalent, in Business, HR or related field. MBA degree is highly desirable

Work Arrangement:

Hybrid

Salary Range:
  • We consider several job related, non discriminatory factors when determining the pay rate for a position, including, but not limited to, the position's responsibilities, a candidate's work experience, a candidate's education/training, the position's location, and the key skills needed for the position.

Pay is one of the Total Rewards that we provide to compensate and recognize employees for their work.

All qualified applicants will receive consideration for employment without discrimination on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability, age, genetic information, or any other factors prohibited by law.

Job Function:

Human Resources; Executive

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