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Compensation Manager

Company: WSFS Bank
Location: Philadelphia
Posted on: March 19, 2023

Job Description:

Position type: Full-timeLocation: Wilmington, DE, Bryn Mawr or Philadelphia, PASchedule: Monday - FridayHybrid/Onsite Description: The Compensation Manager will report to the SVP, Director of Total Rewards and will analyze, design, and administer the Bank's compensation programs. The incumbent will manage base pay, long and short-term incentives (LTI and STI, respectively), off-cycle awards, commissions, and stock that align with our strategic goals for talent acquisition, retention, and Associate engagement. The incumbent will be a key member of the Center of Expertise (COE) team and partner with HR Business Partners (HRBPs) and division managers regarding any or all compensation-related matters. The incumbent will design and communicate pay structures, grades, compensation budgets, and guidelines. The Compensation Officer will evaluate jobs, develop, and maintain job descriptions, and leverage our HRIS to create process efficiencies and participate in compensation surveys. The incumbent will conduct research and analysis on market competitiveness, pay equity, and compensation trends. Responsibilities:

  • Advises managers on making effective pay decisions that support Associate engagement and reflect our compensation philosophy and budgetary guidelines
  • Conducts job evaluations, by reviewing and ensuring job descriptions are up to date, conducting desk audits, determining FLSA status, analyzing market data and internal comparisons
  • Analyzes, designs, and administers WSFS salary administration, incentive, and stock award programs
  • Assists with the administration of various annual processes including incentive, merit, and equity
  • Conducts Equal Pay and Targeted Salary analyses
  • Administers and/or supports various Corporate-level programs, such as annual market analysis, starting salary recommendations for new hires (i.e. thresholds), career progression trends/structures, industry salary structure analysis and salary spending guidelines for promotions, market adjustments, etc.
  • Serves as project manager and advisor on compensation projects by researching, organizing, and analyzing data as well as presenting findings and recommendations
  • Works with HRIS, Benefits, Payroll and HRBPs to provide guidance from a compensation perspective
  • Analyzes, recommends, and implements processes in support of consistent and equitable application of compensation guidelines throughout the Bank
  • Works to ensure the Bank's pay practices are fiscally responsible, competitive and pay for performance driven
  • Responsible for internal audit of various plans, policies, procedures, systems, and processes associated with compensation, as well as ensuring compliance with relevant regulations
  • Research emerging compensation issues, proposes recommendations to enhance current or create new compensation programs
  • Other duties as assignedMinimum Qualifications:
    • Bachelor's degree in Human Resources, Business Administration or a related field or equivalent work experience.
    • Must have 5+ years' experience as a compensation analyst role, preferably in the Banking or Financial Services industry.
    • Must have Certified Compensation Professional (CCP), Senior Professional in Human Resources (SPHR) or Professional in Human Resources (PHR) certification or be willing to obtain certification.
    • Must be able to mentor and train other members of the COE team on matters relating to compensation.
    • Must be detail oriented, a strategic, proactive thinker, have the ability to prioritize, multi-task, and forge strong relationships.
    • Must be both internal and external Customer-focused and have the ability to forge solid partnerships as they interact with both internal and external partners.
    • Ability to make decisions and recommendations on difficult and important issues affecting procedures and practices within Compensation and supporting areas.
    • Ability to consult on a variety of matters related to compensation that may not have a clearly established precedent.
    • Ability to partner with the HRBPs and managers to determine an approach that achieves the strategic goals of the Bank, while remaining compliant with regulatory guidelines and industry best practices.
    • Ability to collaborate regularly with internal partners at all levels of the organization.
    • Participate with external partners, such as compensation consultants and counsel.
    • Must have excellent oral and written communication skills, as well as listening abilities.Inclusiveness:WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

Keywords: WSFS Bank, Philadelphia , Compensation Manager, Human Resources , Philadelphia, Pennsylvania

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