Director of Total Rewards

1 month ago

Wilmington, United States Wilmington Savings Fund Society Full time

Job Description

At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose.

The Director of Total Rewards is responsible for developing, implementing, and executing a comprehensive total rewards strategy that aligns with the business objectives of WSFS Bank. This role oversees compensation (both executive and broad-based), benefits/wellbeing, Payroll and HRIS oversight, as needed.

Job Responsibilities:

  • Design and manage executive compensation programs, including base salary, incentives, and long-term equity plans.
  • Conduct benchmarking and market analysis to ensure competitive compensation practices.
  • Collaborate with the executive team and the Board of Directors on compensation strategy and compliance. Function as the primary contact for the external executive compensation consultant.
  • Develop and implement compensation strategies that align with business goals and attract top talent to ensure current compensation practices are internally equitable and externally competitive with WSFS’s compensation philosophy and aligned with our commitment to DEI and strategic plan.
  • Monitor and evaluate the effectiveness of compensation programs, adjusting, as necessary. while ensuring compliance with all regulatory requirements related to compensation.
  • HR lead for the proxy team, performing activities including, but not limited to identifying the NEOs, drafting content/edits for the Compensation Discussion & Analysis (CD&A), CEO pay ratio calculation, CIC tables, etc.
  • Draft meeting agendas for the Leadership and Compensation (L&C) Committee of the Board of Directors. Responsible for drafting and presenting materials in partnership with the CHRO.
  • Make recommendations on executive and senior level job offers (base, STI/LTI opportunities, perquisites, etc.)
  • Provide oversight and tactical direction to the organization’s leaders on the annual compensation review process, including related audits, analytics, reporting, etc.
  • Design and model variable compensation plans.
  • Partner with Talent Management, HRBPs, and others during the annual performance management cycle
  • Oversee the design, administration, and communication of employee benefits programs, including health insurance, retirement plans, and wellness initiatives.
  • Develop strategies to enhance employee wellbeing and engagement through innovative benefits offerings.
  • Conduct regular reviews of benefits programs to ensure competitiveness and effectiveness.
  • Make new benefit offering recommendations, including impact/cost analysis, and propose modifications to existing benefits/policies, etc.
  • Participate in quarterly self-insured review meetings with Finance to ensure accruals are appropriate given our claims cost usage, as well as review trends related to stop/loss coverage.
  • Draft changes to policies when appropriate, partner with external counsel for review, collaborate communication rollout with marketing.
  • Ensure accurate and timely payroll processing, compliance with labor laws, and effective payroll administration.
  • Lead efforts to improve payroll efficiency and accuracy through process enhancements and technology solutions.
  • Demonstrated ability to manage multiple payrolls for holding company, corporation, and subsidiaries.
  • Review and approve reconciliations, SOX certifications, etc.
  • Direct the Payroll team regarding communications, process efficiencies, documentation, audit requests, etc.
  • Collaborate with IT and HR teams to ensure the HRIS effectively supports Total Rewards processes.
  • Manage system enhancements and data integrity related to compensation and benefits administration.
  • Support the team with post-integration activities related to process efficiencies/enhancements, maintenance, audits/controls, additional integrations with IT, etc.
  • Ensure collaboration with internal partners i.e., talent, HRBPs, compensation, talent management, etc.

Minimum Qualifications:

  • Bachelor’s degree in human resources, Business, Finance, or related field. Master’s degree preferred.
  • 15+ years progressive HR experience including, but not limited to compensation and incentive analysis and total rewards program administration with a minimum of 5 years in compensation and/or benefits.
  • 7+ years’ experience in total rewards, compensation, and benefits in a leadership capacity
  • Proven track record of developing and implementing successful total rewards strategies.
  • Experience with HR technology and total rewards management systems.
  • Experience with key vendor management.
  • Experience managing budgets for several functional areas.
  • M&A Experience including due diligence for acquisitions, mergers, lift-outs, etc.
  • Must model the WSFS Values of Service, Truth, and Respect
  • Must be a servant leader with the ability to navigate matters at both the strategic/thought leader and tactical levels.
  • Excellent communication (oral and written) and interpersonal skills and highly service orientated.
  • Ability to interact with all levels of the organization, including Executive Management and the Board of Directors and have strong relationship management skills.
  • Excellent analytical, problem-solving, prioritization, and decision-making skills.
  • Leadership, team building, consulting, negotiation, and facilitation skills.
  • Expert knowledge of compensation and benefits best practices and related laws and regulations, specific knowledge of FLSA, ERISA, benefit/wellbeing programs, including flexible benefit programs.
  • Demonstrated sound knowledge of laws governing benefits compliance, including ERISA, COBRA, FMLA, ADA, Section 125, DOL requirements.
  • Strong proficiency in MS Office suite.
  • Expert level knowledge of Excel (VLOOKUP’s, pivot tables, charts, etc.).
  • Must possess deep business and financial acumen and professionalism/executive presence.
  • CCP certification (strongly preferred), SHRM-CP, PHR certifications preferred.
  • Workday experience and HRIS integration experience preferred.

WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@wsfsbank.com.

WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

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