Director, Compensation

Company: PGIM
Location: Newark
Posted on: June 25, 2022

Job Description:

Job Classification:Corporate - Human ResourcesThe Compensation function is responsible for designing, implementing, and maintaining compensation plans and practices for the company, including salary, annual incentives, long-term incentives, and business-specific sales and specialized incentive programs.As a compensation partner fortwo or more ofthe company's critical business/functional groups, this role willconsult with HR Business Partners, management and cross functional teams to identify, develop and deliver impactful compensation programs that meet and anticipate the needs of the organization while being mindful of external trends in the marketplace.Responsibilities include:Work with Lead and Senior HR Business Partners and management to develop compensation solutions, practices, and plans that support a strong market-based pay for performance environment, including designing and implementing sales and specialized compensation programs that drive business results.Provide on-going compensation consulting services such aspolicy interpretation, making recommendations on pay decisions to maintain internal equity, external competitiveness and ensure compliance with all regulatory requirements.Develop strong partnerships and provide counsel to HR and Business Management groups on job design, job documentation, FLSA, job evaluation and compensation policy interpretation, questions and concerns.Facilitate positive and proactive communications, coordination, and consideration of client needs to achieve effective outcomes that support business objectives.Balance business clients needs with the reinforcement of company-wide compensation related policies and processes.Leverage standardized tools used for analyses, combine internal data, stakeholder feedback and external competitive data to support decisions that impact employees and the business in a meaningful way.Research strategic issues and keep abreast of best practices to provide guidance to HR and management on the organizations response to changing trends and recommend changes to compensation programs/philosophy as appropriate. Continually reviews current compensation processes and procedures to identify opportunities for both internal and external process improvements and recommend solutions for implementation to drive HR efficiency as well as enhancing employees total reward experience.Partner with the Market Insights team to optimize our usage of salary surveys and relationships with vendors to equip Prudential with robust and reliable data to market price jobs, develop salary structures, and provide HRBPs and business leaders with market-based and thoughtful guidance related to pay decisions.Lead the annual compensation process for assigned clients, including salary, annual incentives, long-term incentives, and sales and specialized compensation programs.Develop and conduct training and education as needed on compensation programs for clients, as well as for the broader Total Rewards and Operations team.Lead, manage, and participate in departmental projects, task forces, special assignments, and actively support workplace diversity initiatives.Key RequirementsBachelors degree in business, HR, or related field required, Master's degree desirableCertified Compensation Professional designation highly desirableAt least 7+ years professional experience including 5 or more years of compensation design and consulting and 3 years in sales compensation design, consulting or administration requiredAdvanced MS Excel and PowerPoint skills; proficient in MS WordDemonstrated ability to apply compensation knowledge, philosophy, best practices, and sound decision-making processes to current and proposed compensation programs.Collaborative leader that works to develop simple solutions based on business needs.Strategic thinker and demonstrated knowledge and experience of competitive compensation strategy and practices is a must including job evaluation, compensation plan design, market analysis and FLSA and related regulations.Familiarity and experience with employee benefits is desirableCreative, analytical, and results oriented.Ability to manage complex data in a demanding fast paced work environment. Focus on the detail and accuracy of analysis as well as the ability to see the bigger pictureDemonstrated ability to draw conclusions, themes and trends from data analysis and communicate results to high level officersExcellent communication skills: exhibit strong presence, verbal and written presentation skills, and ability to interact with multiple stakeholders and clearly explain information to non-technical audiences and concisely articulate the inferences (story) from analyses.Demonstrated capacity to resolve issues in a timely manner, creatively design solutions and proactively implement strategies with a bias for flawless execution.Must maintain confidentiality, sound judgment and independent decision making in problem solving and in developing alternative strategies.Strong risk management and governance mindset as work involves highly confidential data-Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit to learn more about our values, our history and our brand.Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.The Prudential Insurance Company of America, Newark, NJ and its affiliates.Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.PEOPLE WITH DISABILITIES:If you need an accommodation to complete the application process, which may include an assessment, please call (800) 433-8960, prompt 4 or email accommodations.hw@prudential.com.Please note that the above number and email are solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.SummaryLocation: Newark, NJ, USAType: Full time

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