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Northern Trust · 16 hours ago

Global Compensation Consultant, Head of Wealth Management and Asset Management

New York, NY

Full-time

Hybrid

Senior Level, Lead/Staff

$225K/yr - $275K/yr

10+ years exp

Northern Trust is a globally recognized financial institution that provides innovative financial services and guidance. The Global Compensation Consultant Head of Wealth Management and Asset Management is responsible for leading the design and implementation of compensation programs that align with business objectives and regulatory standards.

BankingFinanceFinancial ServicesWealth Management

Responsibilities

Leads the design, implementation, and execution of innovative and competitive compensation strategies for the Wealth Management and Asset Management business, including incentive, sales compensation plans, and market analysis

Partners closely with senior business leadership, HR business partners and other primary stakeholders to align compensation programs with business goals and regulatory requirements

Oversees and supports the annual compensation cycle by utilizing data and analytics to provide insights and recommendations to leadership

Monitors and analyzes market trends and competitor practices to recommend adjustments as needed

Maintains knowledge and understanding of global remuneration practices via external forums, consultant interaction and peer networks

Provides guidance and thought leadership to HR and business leaders on compensation matters including job offers, market competitiveness, and pay for performance

Collaborates on compensation communications and training for managers and employees

Aligns compensation approaches with business needs and regulatory restrictions, developing creative solutions for talent acquisition and retention. Recommends solutions or alternative actions to resolve compensation-related challenges

Carries out complex initiatives involving multiple disciplines and/or ambiguous issues

Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity

Qualification

Compensation strategy designWealth Management experienceAsset Management experienceJob evaluation expertiseMarket pricing analysisPay for performanceConsulting abilityChange managementQuantitative analysisPresentation skillsProject managementAttention to detail

Required

10 or more years of experience in compensation disciplines including financial services Wealth Management and / or Asset Management (WM/AM)

Demonstrated proficiency via extensive technical and business knowledge and functional expertise of WM and/or AM sales plans; global sales plans experience is preferred

Demonstrated experience in job evaluation, job architecture, market pricing, benchmarking, salary structure design and development, pay for performance, short- and long-term incentive compensation

Excellent verbal, written and presentation communication skills. Experience with conducting presentations to clients, peers and/or senior management related to compensation topics

Demonstrated ability to consult and influence with all levels of management

Past experience demonstrating strong 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