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Flagstar Bank · 22 hours ago

Compensation Consultant Lead

New York/1400 Broadway/114025

Full-time

Onsite

Senior Level, Lead/Staff

$107K/yr - $176K/yr

8+ years exp

Flagstar Bank is a financial institution seeking a Compensation Consultant Lead to align compensation programs with business goals. The role involves designing and implementing compensation programs, conducting data analysis, and providing consultative advice to HR and business unit managers.

BankingFinanceFinancial Services

Responsibilities

Lead and oversee the design and implementation of compensation programs ensuring they are competitive, equitable, and aligned with organizational goals. Communicate compensation policies and practices to employees and management, providing training on compensation programs, and address questions and concerns as applicable

Oversee accurate and timely processing of program outputs, identify and resolve issues in programs or administration

Analyze compensation data and make data-driven recommendations to improve compensation programs. Perform analysis as requested to ensure timely and accurate data is provided for review including a recommended plan of action in response to the request. Create complex compensation models to evaluate options and develop proposals for management and Executive teams

Act as the SME and leader for special projects which includes, project management/planning, coordinating and planning processes across multiple HR functions, data validation and audits, the creation and implementation of education sessions around Compensation tools and processes, and creating and coordinating communications. Ensure the accuracy and effectiveness of compensation information, and develop and document procedures to streamline the compensation processes to ensure compliance with regulatory requirements. Work with Human Resources Partners to educate line management on pay administration practices

Collaborate and partner with HR professionals, senior leaders, and other stakeholders to ensure compensation strategies align with business objectives

Develop and oversee policies and processes to ensure plans comply with internal risk management frameworks and external regulatory expectations (e.g., fair lending, sales practices, compensation governance). Ensure compliance with applicable federal, state and local laws and regulations. Maintain knowledge of and adhere to Flagstar’s internal compliance policies and procedures

Uses independent judgement and discretion to make decisions in areas of responsibility or portfolio oversight. Escalates issues when appropriate

Analyzes and resolves problems pertaining to job design, market data, job evaluations, incentive design, incentive calculations, salary structures, salary administration, total compensation, and any other compensation related items

Performs special projects, and additional duties and responsibilities as required

Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations

Monitor emerging trends and changes in regulatory expectations and update internal policies and practices as needed

Qualification

Compensation Program DesignData AnalysisStakeholder EngagementCompensation Regulatory KnowledgeMicrosoft ExcelWorkday CompensationInterpersonal SkillsProblem-Solving SkillsProject Management

Required

Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent

Minimum experience required: 8+ Years compensation and analytics experience at a financial institution (Specific to market evaluation, compensation program design, compensation analysis, process improvement and documentation and experience in job design)

Strong knowledge of the compensation regulatory environment including the Interagency Guidance on Sound Incentive Compensation Practices

Excellent analytical and problem-solving skills, with the ability to assess complex risk scenarios and develop effective mitigation strategies

Excellent interpersonal and communication skills, including ability to influence and collaborate with stakeholders at all levels of the organization

Advanced Microsoft Excel