Senior Compensation Relationship Manager, Executive Compensation-1800003202
Primary advisor on executive compensation philosophies, programs, policies and plan designs. Interacts with Executives, Senior Managers, and Senior HR business partners across the Bank to ensure they are enabled with prevailing and strategic compensation knowledge, programs, processes and tools to effectively support the achievement of business success and optimize the businesses spend of compensation dollars. Provides expert advice, counsel and ongoing support regarding executive compensation issues; including internal/external competitiveness, program design, program effectiveness assessment, and overall governance related to BMO's compensation philosophy and principles.
Develop consulting/advisory partnership with the Senior HR Business Partners and Talent Management for effective assessment, development and implementation of compensation programs including base pay and incentive programs such as annual bonus, equity, etc.
· Operates as primary advisor and single point of contact for executive programs, by providing advice, counsel and training related to general compensation philosophy and BMO specific principles, programs and approaches
· Supports Senior HR Business Partner and Talent Management to educate the business on compensation philosophy and programs, to assess compensation issues, to develop appropriate solutions and to support the implementation of compensation programs and/or systems
Provide compensation recommendations to be used as part of staffing proposals or out of cycle reviews for all executive roles.
Develop and maintain a working knowledge of BMO total compensation programs and approaches across the enterprise, including global mobility, equity programs, benefits and pension to ensure a total rewards approach is considered
Develop, maintain and continually expand a good working knowledge of the business strategy in combination with general industry knowledge and market business trends in order to provide effective consultation to client groups
· Use external market and internal knowledge of our business to pro-actively assess the implication of market trends on programs, to identify compensation issues and opportunities, and to influence business leaders with respect to required changes
· Uses subject matter expertise to recommend base pay budgets, approaches to base pay management, incentive program designs and payouts, and to ensure that compensation programs support the strategic direction of the Bank, and are appropriately aligned to the performance of the business and the Bank’s risk appetite framework.
Leads projects regarding the design and development of executive compensation programs
· Serves as a single point of contact by partnering with Executive Compensation Analytics and Compensation Operations to facilitate effective and efficient client coverage, and to ensure an appropriate level of internal relativity on executive and employee programs
· Partners with appropriate internal and external resources to ensure that all designed programs, plan documentation and communications meet requirements, complying with regulatory, tax, legal, accounting and operational frameworks
· On internal projects, effectively communicates data and/or modeling requirements to Executive Compensation Analytics to ensure delivery of information necessary for effective program design
· When using an external consultant, manages the service provider relationship to ensure successful project completion
Ensure governance review of all compensation programs
· Assess whether compensation programs and practices comply with BMO's compensation principles and policies, as well as legislative and regulatory requirements and elevate any issues
· Confirm that incentive pool funding is accurately forecast
Develop and maintain effective internal working relationships with other senior members of the Compensation and Performance Management team to develop principles and approaches to market assessment and program design and continually improve the overall function of the department
· Bachelor’s degree; Master’s preferred
· 10–12 or more years of experience in compensation or as a human resource generalist
· 3-5 years of executive compensation experience
· Demonstrated experience leading human resource projects from concept to execution
· Market analytics and compensation survey methodologies
· Working knowledge of legal and regulatory requirements relative to deferred and non-deferred compensation, as well as on compensation disclosures
· Strong business acumen and understanding of the HR strategic partnership in driving business results
· Project management practices to facilitate the management of multiple projects concurrently, meet deadlines and work under pressure
· Leadership and influence capabilities
· Excellent negotiation, presentation and communication skills
· Strong background in Excel
· Survey and statistical analysis
At BMO we have a shared purpose; we put the customer at the center of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmocareers.com .
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BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.