Executive Director, Total Rewards

5 days ago

Hartford, Connecticut, United States Sumitomo Pharma Full time
Job Overview

The Executive Director, Total Rewards is a key leadership position responsible for developing and overseeing the execution of benefits and compensation strategies to ensure that programs align with business objectives and values, are market competitive, and positively impact the organization's ability to attract, reward, and retain top talent.

Key Responsibilities
  • Lead the design, implementation, and governance of competitive, integrated total reward strategies that attract key talent, reward high performance, are fiscally responsible, and support retention.
  • Ensure that the company's philosophy, strategy, and practice related to compensation and benefits are aligned to organizational values, strategy, and performance.
  • Oversee the provision of a full suite of compensation programs, including executive, broad-based, and incentive compensation programs, as well as job design, to support market-appropriate compensation packages that are competitive and compliant with relevant regulatory provisions.
  • Oversee the design, cost-benefit analysis, and administration of the benefits programs to ensure the company provides comprehensive, market-competitive, easy-to-use, and cost-effective benefits offerings.
  • Partner closely with Talent Acquisition and HR Business partners in the development of key frameworks, including promotion guidelines, career ladders, and leveling criteria/frameworks.
  • Work closely with the CHRO and the parent company's HR team to prepare materials for the quarterly Compensation Committee meetings.
  • Responsible for total rewards policies, guidelines, and procedures, ensuring strong governance and compliance with employment labor laws and regulations.
  • Provide thought leadership and subject matter expertise in the field of total rewards.
  • Build and manage strong relations with professional networks and leverage industry knowledge and research skills to identify key insights.
  • Oversee the preparation of the annual benefits, merit, long-term incentive, and bonus budget and periodic forecasts.
  • Drive thought leadership to address current and emerging compensation and benefits trends and challenges.
Requirements
  • Ability to develop and successfully execute strategies at an organizational level.
  • Ability to think strategically and provide total rewards-related advice at an executive level.
  • Ability to collaborate effectively and build relationships with key stakeholders.
  • Capacity to make strategic decisions that have potential long-term positive impact.
  • Impeccable integrity, dependability, and a keen sense of urgency to achieve results.
  • Ability to adapt and quickly pivot according to business needs.
  • Ability to influence at all levels of the organization.
  • Ability to manage, develop, and motivate a diverse team.
  • Deep business acumen and understanding of how business strategy affects total rewards.
  • Strong analytical and conceptual capability, problem-solving, and business planning skills.
  • Ability to execute against multiple high-priority projects through exceptional organizational, prioritization, and time management skills.
  • Excellent written and oral communication skills.
  • Computer proficient, with Word document and Excel proficiency.
Education and Experience

MBA or Master's in a related field preferred. 10+ years of progressive relevant total rewards experience, including design and implementation of total rewards programs. Prior experience working with the Board's Compensation Committee is required. Prior experience managing compensation and benefits, including 401(k) and deferred non-qualified plans, is required. Lifesciences/bioscience industry experience is required. Pharmaceutical industry experience is highly preferred. Knowledge of benefits and compensation governance and compliance is required. Strong program or project management experience with large-scale, long-term projects is required. Experience collaborating with executive teams and senior management is required.

The base salary range for this role is $234,700 to $293,400. Base salary is part of our total rewards package, which also includes the opportunity for merit-based salary increases, short incentive plan participation, eligibility for our 401(k) plan, medical, dental, vision, life, and disability insurances, and leaves provided in line with your work state. Our robust time-off policy includes unlimited paid time off, 11 paid holidays, plus additional time off for a shut-down period during the last week of December, 80 hours of paid sick time upon hire and each year thereafter. Total compensation, including base salary to be offered, will depend on elements unique to each candidate, including candidate experience, skills, education, and other factors permitted by law.

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