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Director, Compensation & Benefits (Total Rewards)

Cambridge, MA

Posted: 01/18/2021 Employment Type: Direct Hire Job Category: HR: Compensation Job Number: 2693

Job Description


Our Client’ s HR team is growing! The Director of Compensation & Benefits (Total Rewards) is a newly created role responsible for the design, implementation and ongoing evaluation of their compensation and benefits programs. This position will play a key role in defining and executing a total rewards strategy, including building consensus on compensation philosophy, incentive compensation and employee benefits. The Director of Compensation and Benefits will manage plan design and compensation strategies, communication, administration and compliance. In partnership with leaders and the HR Team, this position will evaluate how our Client can optimize programs to attract top talent and foster retention and engagement in a rapidly growing organization.

RESPONSIBILITIES:

Compensation
  • Design, manage and administer executive and non-executive compensation programs including base salary, short term incentives, long-term incentives and equity programs
  • Partner with Commercial Operations to design sales incentive plans that are aligned with the company’ s business objectives and talent strategy, while ensuring the achievement of consistent and market-driven levels of compensation.
  • Evaluate competitive practices, assess organization’ s position to market, and suggest recommendations to ensure that these plans are cost competitive and support company values and achievement of business objectives.
  • Advise on all aspects of compensation management including job analysis and evaluations, internal and external compensation challenges, pay decisions, salary surveys and market data, annual compensation planning and other compensation practices
  • Enhance compensation acumen through manager and employee trainings to introduce compensation programs and ensure employee understanding of salary administration, incentive, and equity programs and performance management.
  • Work with HR team to manage the internal processes and report preparation leading up to quarterly or interim Compensation Committee meetings
  • Complete submissions in Radford and other custom surveys.
  • Keep apprised of governance and compliance issues as they relate to executive compensation
  • Have a strong understanding of laws pertaining to wages, pay equity, DOL exempt/non-exempt, etc.

Benefits
  • Research, analyze, and recommend benefits programs by understanding employee population and trends, and developments in benefits offered by other organizations.
  • Point person for all federal, state, and local legal requirements by studying existing and new legislation; obtaining qualified opinions; enforcing adherence to requirements.
  • Lead the negotiation and contracting with benefit plan providers, vendors, auditors and consultants for services, premiums and plan administration.
  • Create and enhance benefit policies and procedures.
  • Establish and maintain strong working relationships with benefit providers.
  • Oversee the management and execution of the 401k plan including all compliance and fiduciary activities; member of fiduciary committee
  • Manage the preparation of information for ensuring compliance including annual 401(k) plan, 5500s, Summary Plan Descriptions, FLSA, ADA, ERISA, ACA, FMLA, HR audits, etc.

REQUIREMENTS / QUALIFICATIONS:
  • 10+ years of experience designing and implementing compensation and benefits programs, in pharmaceuticals or high growth, late stage or small biotech preferred
  • Experience in designing and implementing programs in US and global
  • Experience supporting a variety of client groups and business initiatives, including commercial and/or R&D organizations, organization builds and commercial launches (including designing incentive compensation plans, etc.)
  • Experience in executive compensation, including the development of materials for the Compensation Committee of the Board of Directors at a public company; knowledgeable on executive compensation plans
  • Experience in benefit renewal negotiations and understanding of how to drive down benefit costs
  • Strong knowledge of industry trends and market changes; provide thought leadership on current and emerging incentive trends; comfortable appropriately challenging conventional norms and views, persistence and intellectual curiosity to evaluate leading approaches
  • Strong project management and prioritization skills to effectively manage and drive multiple projects and initiatives with competing deadlines
  • Work collaboratively and supporting / managing stakeholders at all levels
  • Ability to build strong business partnerships; customer-focused mindset
  • Effectively navigate complex employee and candidate needs and identify solutions

Meet Your Recruiter

Lisa Madden
EVP, Clinical Staffing

Lisa is an inspiring leader and mentor, driven by an inherent desire to help others and make a difference. An advocate for growth and professional development, Lisa brings 18 years of recruiting and business development experience to The Steely Group, and as Executive Vice President of Clinical Staffing, she oversees the direction and strategy of the Steely recruiting team.

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