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Sr. Consultant - Compensation

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Human Resources
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74865 Requisition #
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The Senior Compensation Consultant is responsible for managing the global compensation programs for a specific client group at Northern Trust. The role will work and partner directly with HR Business Partners, business/functional Management, and the Global Compensation team to achieve business and functional objectives and assist in total incentive compensation plan design.

This role is based in our Chicago office but allows for the ability to work remotely up to three days a week, depending on workload.

 

Responsibilities

 

Annual Review Cycle

 

• Leads the annual compensation planning process for the assigned business units/functions including base pay recommendation facilitation, incentive allocations (possibly including sales plans), compliance with corporate and business guidelines/expectations, and final reconciliation.
• Leads and manages the delivery of compensation recommendations to Senior Leadership as well as the research, analysis, design, implementation, communication, and administration of global compensation plans during the Annual Review Cycle.
• Provides guidance to the business to develop creative solutions on a variety of total compensation issues including the setting of appropriate pay levels and total incentive pay.
• Reviews the operation of various facets of the compensation process to assure compliance with corporate goals and various government regulations.

 

Analysis and Compensation Strategy

 

• Partners with business clients and HR Generalists to understand and support their business objectives by providing analytical support, consulting, and compensation advice for their functional areas.
• Educates client groups on compensation policies and provides subject matter expertise. Aligns compensation approaches with business needs, developing creative solutions for talent acquisition and retention. Recommends solutions or alternative actions to resolve compensation-related challenges.
• Evaluates Executive level roles, determining leveling, ensuring jobs are scoped appropriately. Maintains job related data in HRIS and manages organizational job descriptions.
• Participates in market pricing initiatives, analyzes competitive market data to ensure Northern Trust’s competitive market position. Reviews internal equity and prepare proposals to management on pay adjustments
• Participates in the design and approach to job structure and other related compensation programs. Creates and conducts market data presentations.
• Analyzes and maintains equity of current compensation programs compared to trends and regulatory requirements.
• Perform deep analysis on effectiveness and competitiveness of existing compensation programs and model potential impact of alternatives. 

      

Project Work

 

Participate in and possibly lead ad hoc compensation projects that may include, program design and implementation, global salary structure midpoint development and communication, and global job matching.
• Partner with the broader global Compensation team on business unit specific compensation program initiatives, change management, implementation, and communication efforts as needed.

 

Collaboration


• Effectively collaborate with HR, Business, and Global Compensation colleagues to manage, consult, and lead the effort to resolve compensation issues.
• May assist and train other team members.

 

 

 

 

 

 

 

 

 

Experience

 

• 10 or more years of experience in finance, compensation or consulting with an in-depth knowledge of core compensation methods and best practices.
• Ability to create dynamic tools and models to interpret and analyze data.
• A graduate degree and/or CCP/GRP is preferred

 

Skills 

 

• Excellent verbal, written and presentation communication skills. Experience with conducting presentations to clients, peers and/or senior management related to compensation materials (trends, education, etc.)
• Demonstrated ability to consult and interface with all levels of management and apply influencing skills. Past experience demonstrating strong negotiation and influencing skills, 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.
• Highly proficient in Excel.

 

 For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.


We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.


As of December 31, 2018, Northern Trust Corporation had:

 

$10.1 trillion in assets under custody/administration
$7.6 trillion in assets under custody
$1.1 trillion in assets under management
$132 billion in banking assets

 

 

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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
  • APAC EEO Statement
    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement