Director of Compensation & Benefits, Renaissance

• 15+ years of overall HR experience with 10+ years of experience focused in Benefits/Compensation design and management
• Previous experience working with the Compensation Committee of the Board
• Extensive knowledge of federal and state legislation influencing benefits and compensation
• Strong Leadership, communication, analytical, financial and written communication skills
• Ability to collaborate and work across the organization
• Previous acquisition/divestiture experience

Desirable

• The Director of Compensation & Benefits is responsible for the strategic direction and leadership of all aspects of the Compensation, Benefits, and Equity Plans including overall management, design, administration, communication, compliance, activities and vendor management
• The Director will manage, plan, direct, develop, communicate and coordinate work activities of the department
• Ensures all plans adhere to current regulations and support the company’s strategic objectives
• Demonstrate an understanding of market dynamics, key competitor compensation and benefit plan designs, and industry trends. Innovate in overall plan design and administration to address industry dynamics and to attract and retain talent
• The priority is to ensure that the company’s compensation, benefits and processes plans, programs and tools (and the data and information that support them) are competitive, cost effective and most importantly support the various business strategies, enhance organizational capability and foster employee engagement
• This role will provide excellent customer service, ensure systems and processes are efficient, customer oriented and support the needs of the businesses
• This position is strategic, analytic and operational in nature and will work collaboratively with business and HR across locations on all related matters
• The incumbent must have a high degree of credibility and demonstrate his/her ability to add value with all levels of leadership and will partner closely with HR Business Partners to ensure a seamless, expertise-driven experience for business executives
• This position is responsible for handling and maintaining confidential and sensitive information, acts with discretion and is accountable for legal and regulatory compliance
• Establish compensation strategies for both international and US locations while ensuring that all compensation and reward programs and practices are aligned with the culture and business goals
• Designs and develops the company’s broad-based compensation programs including base salary, incentive, executive compensation and sales commission plans. As appropriate, proactively educate leaders, HR and colleagues on compensation strategy, practices and benchmarks
• Lead the evaluation of positions and the application of existing job classifications, assignment of job levels, salary ranges and FLSA status to positions. Make recommendations for revisions and/or changes
• Direct annual market survey and recommendations regarding changes in salary plans; oversee all activity related to published compensation surveys throughout the year and audit survey output, market trends and market competitive pay positions to ensure salary plans meet overall company goals and objectives
• Identify opportunities to make compensation activities/processes more streamlined and efficient
• Ensure compensation programs and practices are competitive in the marketplace to support recruitment, engagement and talent retention. Design, develop and implement any new programs or changes like career pathways, etc
• Lead the development of annual salary budgets from collecting market data (general, industry specific, geographic) and model budget proposals
• Lead the salary planning processes with HR and department heads from communicating budgets and process to management and managers, educating employees, providing reports, collecting recommendations, to coordinating review process with senior management
• Responsible for LOA administration and reporting to include FMLA, ADA and other leaves
• Establish strategy for benefits and continuously evaluate all benefits plans to ensure they are cost effective, competitive, and meet the needs of the company and employees. Identify opportunities for changes, including new vendors, plan design, and funding. Administer all benefit plans, including but not limited to health and welfare programs, qualified plans, life insurance, disability, and Internal Revenue Code (IRC) Section 125 plans and discretionary benefits. As appropriate, educate leaders, HR and colleagues on benefits strategy, practices and benchmarks
• In conjunction with the Manager of Benefits, set the agenda and lead all 401K committee meetings and activities. Present any proposed new programs or changes to programs. Review and report on efficacy and budgets for existing programs. Manage profit sharing and 401(k) contributions and withdrawals, and Qualified Domestic Relations Orders (QDROs) and IRC Section 125 plans
• Direct the annual open enrollment process, including vendor selection and negotiation, cost-saving initiatives, employee communication and collaboration with other contributing departments
• Determine appropriate communication strategy for specific benefits (open enrollment, health and wellness, etc.) and develop employee education programs to ensure employees understand benefits, their value, and available resources. Also responsible for the creation of benefit communications that enhance employee summary plan descriptions, new hire orientations, employee event notifications, etc
• Establish and maintain relationships with external service providers to ensure they are delivering services as outlined and expected. Provide excellent customer service to support internal customers and contract carriers, brokers, or other necessary responsibilities to facilitate proper and complete utilization of benefits for all colleagues. Ensure audits on plans are conducted in a timely manner
• Regularly analyze benefit offerings, evaluating the usage, services, coverage, effectiveness, cost, plan experience and competitive trends, and make appropriate short and long-term recommendations. On a periodic basis, benchmark to ensure market competitiveness and best practices
• Ensure compliance with applicable federal or state laws or regulations (i.e. Employee Retiree Income Security Act (ERISA), Health Care Reform Act, etc.). Direct the reports and applications required by law to be filed with federal and state agencies, such as the Internal Revenue Service (IRS), insurance commissions, Health Insurance Portability and Accountability Act (HIPPA), Department of Labor (DOL), and other regulatory agencies
• Ensure all plan documents and Summary Plan Descriptions are complete and updated, 5500 filings are filed accurately and in a timely manner, prepare discrimination testing, and oversee annual plan audits
• Manage the audit process and the nondiscrimination testing requirements of the (401k) plan. Liaison with appropriate external auditors, as needed, on a timely basis
• Resolve administrative or contractual issues with all insurance and investment carriers
• Maintain a working knowledge of legislation, both domestic and international, that may affect compensation, benefits and payroll policies/practices
• Evaluate and compare existing company benefits for renewal and develop recommendations related to modifications to existing plans or new plans that will maintain the company’s competitive position in the market
• Responsible for annual benefit plan budget and monthly financial statements, including budget projections and explanations of variances
• Responsible for the board resolutions as they relate to the Compensation Committee of the Board
• Work in conjunction with Accounting & Payroll to ensure compliance of all aspects of the company’s equity compensation plans including the granting and exercising of stock options