Director - Compensation and Benefits - Banc of California - Orange County

Job description
The Director of Compensation and Benefits will develop strategies, best practices, and key processes for compensation and benefit programs. This position is responsible for spearheading a robust total compensation strategy with a focus on cost containment, retention, and enhancing employee benefits. Enhancing current performance based incentive programs, and performance management initiatives; Recommends compensation and benefits strategies, policies, and programs that are competitive within the financial services industry, which support company goals.
Responsibilities:
Create effective processes and procedures to ensure consistent application of compensation and benefit programs and awards. Develops and implements recommendation, approval, and processing guidelines of compensation and benefit related employment actions.
Lead the effort to develop and implement a compensation strategy and programs that will attract, retain high performing employees in the organization.
Prepare job descriptions, conduct job evaluation and salary surveys, establish salary structures, develop salary budget recommendations, and prepare policies and procedures to ensure the achievement of equitable and competitive employee compensation across the organization.

Ensure alignment with the external market through identification of appropriate survey providers, and the execution of market data analysis.
Lead the delivery of the annual salary review process and variable pay process to ensure salary budget and variable pay are directed appropriately, in alignment with market analysis results, organization and individual performance.
Develop and oversee the process for accurate, efficient, and timely calculations and verification of incentive plans, including commissions and bonuses.
Monitor and evaluate existing benefit plans, trends and utilization to ensure cost-effectiveness, market-competitiveness, and consistency with the organization’s overall strategic plan and objectives; recommending changes and improvements to benefits programs as appropriate.
Manage all benefits related compliance matters including but not limited to ERISA, ACA, IRS regulations and other legislative rules that impact benefits matters.
Monitor and evaluate existing benefit plans, trends and utilization to ensure cost-effectiveness, market-competitiveness, and consistency with the organization’s overall strategic plan and objectives; recommending changes and improvements to benefits programs as appropriate.
Manage and coordinate the planning, implementation, and administration of the organization’s health, welfare and retirement programs.

Desired Skills and Experience
Qualifications:
Bachelor’s degree and at least 10+ years of related experience and/or training. Work related experience must consist of a strong Compensation and Benefits and employee management background. Educational experience, through in-house training sessions, formal school or technical industry related curriculum, should be business or financial industry related.
Seasoned understanding of how Compensation can support strong business performance and recognize need for different reward strategies
Demonstrated business acumen; aware of bottom line impact of Compensation & Benefit initiatives
Prior planning and redesign of policy and programs within HR; Open Enrollment experience
Superior communications skills to all audiences
Effective collaboration skills
Able to adapt to changing priorities and demands, deals with ambiguity effectively, sharing responsibilities and leading by example.
Advanced experience, knowledge and training in progressively responsible Company management or supervisory activities.
Advanced knowledge of Human Resources, labor laws, related state and federal laws and regulations, and other Company policies and procedures.

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