Director of Compensation
Apply NowCompany: Foundation Risk Partners
Location: Camden, NJ 08105
Description:
Foundation Risk Partners, one of the fastest growing insurance brokerage and consulting firms in the US, is adding a Director of Compensation to their team.
Job Summary:
The Director of Compensation will be responsible for developing and implementing a robust compensation strategy that aligns with the company's goals and objectives. This role involves establishing a formal compensation structure including salary bands and incentive plans. The ideal candidate will have a strong background in compensation analysis, design, and administration, with a proven track record of building and managing compensation programs in a fast-paced environment.
Key Responsibilities:
Develop Compensation Strategy: Build Compensation Infrastructure: Compensation Analysis and Administration: Compliance and Governance: Collaboration and Communication:
Qualifications:
Disclaimer:
While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.
Equal Employment Opportunity (EEO):
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law.
Benefits:
FRP offers a comprehensive range of health-related benefit options including medical, vision, and dental. We offer a 401(k) with company match, company paid life insurance, STD, LTD and a generous PTO policy starting at 18 days per year plus 10 paid holidays & 2 floating holidays!
Job Summary:
The Director of Compensation will be responsible for developing and implementing a robust compensation strategy that aligns with the company's goals and objectives. This role involves establishing a formal compensation structure including salary bands and incentive plans. The ideal candidate will have a strong background in compensation analysis, design, and administration, with a proven track record of building and managing compensation programs in a fast-paced environment.
Key Responsibilities:
- Design and implement a comprehensive compensation strategy that aligns with the company's goals, culture, and values.
- Conduct market research and analysis to ensure competitive compensation practices.
- Ensure consistency and alignment of job codes and job families across the organization.
- Develop and maintain salary structures, including salary bands and pay ranges.
- Create and implement incentive and bonus programs that drive performance and align with company objectives.
- Conduct job evaluations and market pricing to ensure competitive and equitable compensation.
- Analyze compensation data and trends to make informed recommendations to senior leadership.
- Oversee the administration of all compensation programs, including base pay, variable pay, and equity programs.
- Ensure compliance with all federal, state, and local compensation laws and regulations.
- Develop and implement compensation policies and procedures that align with legal requirements and best practices.
- Monitor and evaluate the effectiveness of compensation programs, making adjustments as necessary.
- Partner with HR, Finance, and other key stakeholders to ensure alignment of compensation strategies with overall business goals.
- Provide guidance, training, and support to managers and employees on compensation-related matters.
- Communicate compensation programs and policies effectively across the organization.
Qualifications:
- Bachelor's degree in Human Resources, Business Administration, Finance, or a related field; advanced degree or certification (e.g., CCP) preferred.
- Minimum of 3-5 years of experience in compensation management.
- Proven experience in designing and implementing compensation structures and programs from the ground up.
- Strong analytical skills with the ability to interpret and present data effectively.
- In-depth knowledge of compensation laws and regulations.
- Excellent communication and interpersonal skills.
- Ability to work collaboratively in a fast-paced, dynamic environment.
- Strong leadership and team-building skills
Disclaimer:
While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.
Equal Employment Opportunity (EEO):
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law.
Benefits:
FRP offers a comprehensive range of health-related benefit options including medical, vision, and dental. We offer a 401(k) with company match, company paid life insurance, STD, LTD and a generous PTO policy starting at 18 days per year plus 10 paid holidays & 2 floating holidays!