State Street Business Unit Compensation, Vice President in Boston, Massachusetts
You will join a dynamic and highly collaborative team of seasoned financial services compensation professionals within Global Total Rewards (GTR), supporting the business strategies of State Street Bank & Trust business units globally. You will have global responsibility for one or more large client groups or sub-businesses within the SSBT. You will work within and across functions to support the flawless implementation and execution of all broad based compensation programs for the assigned group(s) and also lead and contribute to select company-wide initiatives. Business units covered by the team include: Alternative Investment Solutions, Global Delivery, Global Exchange, Global Markets, Global Services and all corporate functions.
- Plan, prepare, and execute State Street’s annual Total Compensation Process (TCP) for assigned group(s)/sub-businesses, including base salary and incentive compensation planning, pool sub-allocation modeling, validation of eligibility, promotion process, detailed reporting, analysis of pay outcomes and spend management.
- For assigned group(s), lead relationship with line leadership and Human Resources Business Partners (HRBPs) to develop a deep understanding of their business model, competitive positioning and growth opportunities and other strategic imperatives. Gain insight into unique business needs and execute on key compensation priorities including business-specific benchmarking strategy, development and implementation of applicable base salary and total compensation ranges; consult with and advise/influence clients on initiative-specific compensation design alternatives, participant selection and approval requirements.
- Design, build and work with detailed models and analyses to support special projects (e.g., reorganizations, global footprint, mergers & acquisitions due diligence and integration, competitive market positioning). Exercise critical thinking and excellent technical/business writing skills to synthesize the results of complex analyses into salient points important to GHR, GTR and line management. Make data-driven recommendations.
- Collaborate with State Street’s in-house Talent Acquisition team to develop competitive offers for internal and external executive and non-executive talent, including appropriate compensation elements (e.g., base salary, incentive compensation, deferred cash, equity) while ensuring alignment with State Street’s compensation philosophy, Remuneration Policy, and adherence to established decision rights/approval requirements.
- Be responsible for the implementation and execution of auditable processes that ensure risk excellence and compliance with State Street Global Total Rewards’ controls framework within assigned group(s). Contribute to the development/design of these processes as a member of the team. This framework is informed by applicable laws and regulatory guidance in the jurisdictions in which we operate ( e.g., FLSA, OFCCP, US Federal Reserve guidance, European Central Bank and Country-specific regulations and guidance, etc.).
- Serve as a subject matter expert regarding skills, responsibilities, scope of roles, and appropriate alignment under State Street’s Job Architecture at executive and below levels within the assigned group(s)/sub-businesses.
- Minimum of 5 years of experience in professional compensation roles, showing progressively more responsibility and experience in areas including staff and business unit annual incentive plans, sales incentive plans, compensation market data benchmarking, and job architecture in large, complex, global organizations
- At least 8 years of experience in a compensation or benefits role or equivalent experience in human resources, economics, finance, consulting, or other roles in financial services.
- Ability to forge successful relationships/partnerships across organizational and regional boundaries
- Highly collaborative team player with a process improvement mind-set
- Exceptional communication and influencing skills, which command the respect of the peer group, reports and senior executives across the organization; excellent verbal communication, and corporate/business writing
- Advanced problem solving, critical thinking, financial analytics and modeling, with exceptional attention to detail
- Exceptional business management skills including planning, project management, financial management; translating business requirements into compensation strategies and plans;
- Ability to listen, learn and creatively build solutions that are practical and effective for the organization
- Strong ability to work effectively with client and team members, balance multiple work streams and meet all deadlines
- Advanced MS Excel including managing large data sets in MS Excel, summary analysis through arrays, conditional formatting, and pivot tables. Proficiency in MS PowerPoint and MS Word, Database design or administration experience is a plus
- Passionate about integrity, transparency and maintaining the highest standards of quality
- Bachelor's degree is required; MBA or other advanced degree in a related area preferred
- WorldatWork Certified Compensation Professional or related coursework/certifications (CCP, ACCP, GRP, CERP) a plus
Experience with Workday or similar HRIS (e.g., Kronos, PeopleSoft), benchmarking platforms (e.g., MarketPay, PayFactors), and comfort adapting easily to new technology tools is a plus
Posted 15 Days Ago
- Full time