at Northern Trust Company in Chicago, Illinois, United States
Job Description
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Role/ Department: Global Compensation Risk Remediation and Governance Head/ Benefits, Comp and Global Compensation
The Global Compensation Risk Remediation and Governance Head is responsible for global rewards risk, audits and remediation requirements as well as pay equity/gender pay reporting across all regions of the company. Additionally, this role will be responsible for implementing and maintaining a global HR governance framework, conduct framework and the Annual Individual Risk Review of covered employees. The role will work and partner directly with the Control Functions, business/functional Senior Management, governance bodies, HR functions and Global and Executive Compensation to ensure compliance with regulations, supported by the development of policies, procedures, and communication tools. Responsible for providing documents, or input into documents, for local remuneration and governance committees or the corporate Human Capital and Compensation Committee in partnership with Executive Compensation. The role will manage a team tasked with global compensation risk remediation and governance and pay equity activities.
The key responsibilities of the role include:
Manages the risk remediation and governance team
Monitors and maintains knowledge and understanding of global remuneration regulations via external forums, consultant interaction, peer networks, internal compliance teams with a view toward resiliency at Northern Trust
Prepares presentation materials and provides updates, as required, to key stakeholders and governance groups
Liaises with the Conduct Office and Control Functions in their role of identifying regulated roles (e.g. EMEA Material Risk Takers (MRTs), US Covered Employees).
Analyzes and advises on governance matters and potential risk for global projects and design work within the global rewards function; develop resiliency strategies and implementation plans for new programs in partnership with control functions
Performs analysis on effectiveness and competitiveness of existing risk compensation programs and models potential impact of alternatives
Ensures Compensation governance processes are implemented in collaboration with the relevant HR / Compensation Teams
Responsible for all global renumeration audits to ensure consistency of approach and knowledge of the central process
Contributes to policy and process guidelines relating to guarantees, buy-outs, retention awards and recognition awards, ensuring they market competitive
In partnership with the Global Compensation team and Head of DE&I, maintains and develops the corporate philosophy and strategy with regard to pay equity
Conducts or oversees pay equity and/or gender pay gap analyses as part of the broader corporate strategy
Responsible for all documentation related to pay equity and gender pay requirements globally, including sections in the Total Compensation Policy Statement; contributes to the annual compensation planning process to deliver pay equity reporting
Responsible...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
