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Sr. Consultant Team Leader (AVP/2nd VP), Compensation & Benefits

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Human Resources
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74385 Requisition #
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About Northern Trust


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 


Role Overview


Through project oriented work, designs and recommends new and/or improved compensation and benefit policies or programs. Analyzes and evaluates staff, middle and top management positions to determine appropriate market salary, incentive targets and job structure in alignment with global structures. Directs the administration and planning for health and welfare benefit plans and or/retirement plans. Responsible for the assignment of work and oversight of the assigned Compensation and Benefits Team. Conducts the performance management process for the team.  Overall responsibility for Philippines Comp and Benefits and also assigned APAC regional responsibilities. Additional responsibility for Comp & Benefits for selected countries in the APAC region.



Major Duties


  1. Partners with Compensation & Benefits leaders and HR Managers & Business Partners to implement C&B programs and policies in Philippines and assigned countries in the APAC region including R&R and Wellness.
  2. Reviewing the impact of regulatory and taxation changes and to making recommendations to management.
  3. Participates in the design and approach to job structure, market data presentations and other related compensation programs.
  4. Monitors and reviews market data for incentive targets and salary adjustment recommendations.
  5. Reviews the operation of the various facets of the compensation processes to assure compliance with corporate goals and various government regulations. 
  6. Receives general direction and is competent to work at the highest technical level on all compensation issues.
  7. Develops policies and planning direction for health and welfare plans such as medical, life and accident insurance plans, retirement plans and wellness plans.
  8. Analyzes equity of current benefits compared to trends and legislated requirements and ensures that benefit plans are in compliance with current legislated requirements.
  9. Conducts timely review of benefit plan competitiveness.  Recommends changes to policies, procedures, and practices to management as appropriate.
  10. Budget planning and forecasting for the benefits budgets.
  11. Directs and validates revision of written and website communication materials, summary plan descriptions, plan documents, and all other plan related materials.  Ensures clear and accurate work products.
  12. Manages vendor relationship for outsourced benefits programs.  Directs and oversees vendor activities.  Supervises quality of work and provides high-level direction and feedback regarding performance. Handles contract renewals along with procurement.
  13. Serves as an expert resource or ‘go to person’ within the HR leadership group.
  14. Responsible for direct interaction with different committees and/or management.
  15. Strategic in developing, implementing and administering C&B programs.
  16. Lead or participate in global and regional projects.
  17. Has a secondary focus of supervising people while still doing work. The supervisor related work includes training new employees or those with lesser experience, reviewing work of others, and providing regular feedback and coaching to employees.
  18. Assigns tasks to the Compensation team.  Organizes the work, sets short-term priorities, monitors all activity, and ensures timely and accurate completion of the work.
  19. Provides input into the performance management process and staffing decisions.  

Knowledge/Skills:

  • Is a technical expert with in-depth knowledge in area of Compensation and Benefits. 
  • Requires strong knowledge of other HR areas and assigned business unit. 
  • Requires some supervisory capabilities, strong analytical ability, strong judgment and communication skills, and the ability to work effectively with clients and HR management and staff. 
  • This position may serve as a stepping stone into management.

 

Experience Required:


  • 12 or more years of experience.
 
Education:

  • Bachelor's degree. Preferably MBA with specialization in Human Resources.

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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