Global Compensation Consultant Head of Wealth Management and Asset Management (Finance)
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Role/Department: Global Compensation Consultant, Head of Wealth Management and Asset Management/Global Compensation
The Global Compensation Consultant Head of Wealth Management and Asset Management is responsible for leading the design, implementation and execution of compensation programs and policies that support the business unit's strategy. This role serves as a subject matter expert in base, variable compensation, sales plans, job evaluations, market pricing and compensation analytics. The role ensures that all compensation structures support business objectives, are competitive to market, compliant with regulatory standards, and aligned with the firm's total rewards philosophy. This role will work closely with HR Business Partners, Talent Acquisition and senior business leaders as well as their Reward colleagues.
The key responsibilities of the role include:
• Leads the design, implementation, and execution of innovative and competitive compensation strategies for the Wealth Management and Asset Management business, including incentive, sales compensation plans, and market analysis.
• Partners closely with senior business leadership, HR business partners and other primary stakeholders to align compensation programs with business goals and regulatory requirements.
• Oversees and supports the annual compensation cycle by utilizing data and analytics to provide insights and recommendations to leadership
• Monitors and analyzes market trends and competitor practices to recommend adjustments as needed
• Maintains knowledge and understanding of global remuneration practices via external forums, consultant interaction and peer networks
• Provides guidance and thought leadership to HR and business leaders on compensation matters including job offers, market competitiveness, and pay for performance
• Collaborates on compensation communications and training for managers and employees
• Aligns compensation approaches with business needs and regulatory restrictions, developing creative solutions for talent acquisition and retention. Recommends solutions or alternative actions to resolve compensation-related challenges.
• Carries out complex initiatives involving multiple disciplines and/or ambiguous issues
• Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity
Skills/Qualifications:
• 10 or more years of experience in compensation disciplines in financial services Wealth Management and / or Asset Management preferred
• Demonstrated proficiency via extensive technical and business knowledge and functional expertise of sales plans
• Demonstrated experience in job evaluation, job architecture, market pricing, benchmarking, salary structure design and development, pay for performance, short- and long-term incentive compensation
• Excellent verbal, written and presentation communication skills. Experience with conducting presentations to clients, peers and/or senior management related to compensation topics
• Demonstrated ability to consult and influence with all levels of management
• Past experience demonstrating strong change management and project management skills
• Ability to solve highly complex problems through quantitative and qualitative analysis in a team-based environment
• Critical attention to detail - demonstrated ability to consistently deliver at a high level of accuracy
Working Model: Hybrid (#LI-Hybrid)
We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.
Salary Range:
$114,700 - 194,900 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
