VP, Total Rewards/CompensationApply Job ID: R-003864 Date posted: 07/16/2018 Primary Location SC-Fort Mill
Our Vice President, Total Rewards/Compensation and Benefits will report to the Executive Vice President of HR Shared Services. This strategic position is responsible for the development, implementation, communication, support and administration of LPL’s compensation, benefits and recognition programs that will enable the company to attract, reward, motivate, and retain top talent.
1. Partner with executive leadership in the Human Capital function to establish the company’s employee benefits and compensation strategies and set short and long-term strategic and tactical objectives to drive the success of the functions. Monitor the effectiveness of benefit and compensation plans and recommend changes to optimize impact and cost while monitoring competitive trends and evaluate alternatives and costs.
2. Oversee all benefit program changes or new plan roll-outs from making initial recommendations to successfully communicating to all levels of employees and independent advisors. Oversee the design, funding, and administration of all annual benefits projects including but not limited to benefits renewal and open enrollment for employees and independent advisors. Participate in the selection and management of all vendors, brokers and administrative partners for the benefits function.
3. Ensure optimization of benefits functionality within HRIS, including current future benefits reporting needs for the firm. Oversee all compliance activity ensuring plan audits and 5500 filings are completed accurately and timely, including the identification and correction of issues or trends that would negatively impact the financial and operational integrity of the plans.
4. Manage the annual compensation review processes (merit and bonus/LTI) including budget recommendations, communication strategy, timeline, training and tools/resources. Lead regular market and ad-hoc analyses of base pay, variable pay (including sales incentives), equity, long term incentives, and benefits to ensure market competitiveness. Team with HR Business Consultants, talent acquisition, hiring managers, finance, and leaders on pay decisions, sales plan documentation, policy, and job evaluation, including the design of creative solutions for specific compensation-related programs.
5. Drives the organization’s executive compensation strategy, including design, implementation, communication, and administration of programs. In partnership with EVP, develops the materials for the Compensation Committee meetings. Responsible for drafting the CD&A and executive pay disclosures for annual proxy.
6. Lead additional projects as requested, including planning and implementation, research and problem resolution, acquisition integration, responding to reporting requirements and performing cost/benefit analysis. Proactively partner with Finance department on budgeting and accrual of all total rewards programs.
Other Job Duties:
1. Provide full staff management, including performance development and coaching, to Total Rewards team (currently 4 employees across geographies).
2. Build and maintain effective partnerships across Human Capital organization and LPL management. Partner closely with HR Consultants and business leaders.
3. Stay abreast of and respond to legislative changes impacting benefits programs; help to build and maintain a health and wellness culture at LPL
4. Other duties as assigned
- Bachelor’s degree in HR, Business, Finance or a related field (or equivalent experience); Master's a plus
- 10+ years of progressively responsible benefits and compensation experience
- Financial services industry experience highly desired, or other comparable industry; complex, public company experience preferred
- Demonstrated excellence in benefits vendor management, project management, problem analysis and resolution collaboration and leadership
- Demonstrated competency with end-to-end annual benefits program management
- CEBS a strong plus
- Demonstrated competency with annual compensation process.
- In depth knowledge of Benefits regulatory requirements and filings
- Strong familiarity with Total Rewards, prior experience managing Total Rewards activities a plus
- Successful experience in managing benefits activities in a large, public company preferred
- Expert level proficiency with the MS Office Suite including Excel and PowerPoint
- Must interact well with all levels (including senior management) across the organization
- Will frequently partner with all departments within Human Capital, as well as strong partnership with Finance organization and all business units
- Must be extremely organized, self-motivated and capable of thriving in a rapidly changing environment while managing constantly shifting priorities
- Superior communication, organizational, leadership, presentation and interpersonal skills
- Ability to manage multiple projects, budgets, priorities and deadlines concurrently
- Strong math, problem solving, analytical and critical thinking skills
About LPL Financial:
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 3,700 employees with primary offices in Boston, Charlotte, and San Diego.
If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees.
We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.
Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please login or create an account to apply to this position. Principals only. EOE
*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.