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Head of Partner Remuneration and Benefits Management

2 months ago

Washington, United States Hogan Lovells Full time

Position Overview:
The Head of Partner Remuneration and Benefits Management plays a crucial role in steering the strategic vision, development, and implementation of essential functions that align with organizational goals and regulatory standards.

Key Responsibilities:
This position oversees the comprehensive management, communication, compliance, and administration of compensation and retirement initiatives while engaging with all tiers of the firm's leadership, board members, and employees.

Team Leadership:
Guide the establishment of departmental objectives and protocols for a proficient team of 12, including 3 managerial roles, tasked with managing and executing payroll and retirement plans for Partners, Associates, Counsel, Senior Counsel, executives, and business team personnel.

Financial Oversight:
Supervise financial accounts related to payroll and capital distributions, ensuring accurate monitoring and reporting for firm leaders and partners.

Budget Management:
Formulate and oversee an annual budget encompassing staffing, professional development, retirement program initiatives, and administrative functions.

Compensation Structure:
Direct and articulate the high-level compensation framework and associated details regarding partner and executive remuneration, deductions, taxable earnings, and variances from financial forecasts.

Regulatory Compliance:
Guarantee adherence to all federal, state, and local regulations, including filings, reports, and audits related to payroll and pension benefit program administration, such as ERISA compliance.

Plan Documentation:
Ensure all plan documents and Summary Plan Descriptions are comprehensive and current, with timely and accurate 5500 filings, discrimination testing, and oversight of annual plan audits.

Payroll Administration:
Manage multi-state payroll processes for over 2500 employees, including on-demand checks and manual earnings adjustments, while addressing garnishments, benefits, and tax considerations.

Collaboration:
Work closely with the tax team to ensure accurate communication of partners' tax positions and the integrity of the firm's financial statements. Collaborate with the Pension Committee to ensure efficient benefits administration and a high level of customer service, continuously seeking areas for process improvement.

Issue Resolution:
Investigate and resolve escalated inquiries related to partner compensation, payroll, and retirement program administration.

Vendor Management:
Maintain relationships with key vendors in the payroll and pension sectors, overseeing the request for proposal (RFP) process for new vendor selection or to ensure existing partnerships remain competitive.