Principal Compensation Partner

About the role

This is a remote role that may be hired in several markets across the United States. The position uses expert-level compensation knowledge to collaborate with business leaders and executives on compensation programs that support the achievement of business objectives while maintaining compliance with legal and regulatory requirements. Monitors data trends to ensure program effectiveness and makes recommendations for changes to align with overall strategies. Provides subject-matter expertise on projects with enterprise-wide impact and serves as the point of escalation for highly complex compensation solutions.

Responsibilities

• Business Strategy: Develops and executes complex strategies that support the compensation philosophy. Monitors all compensation programs, policies, and processes for continued alignment with business and strategic goals, recommending adjustments when needed. Collaborates with top-level management to ensure developed solutions meet current and future business needs.
• Compensation Planning: Designs compensation structures and partners with key stakeholders to create variable compensation plans. Analyzes internal and external data, utilizing pricing tools, financial reports, and market surveys as needed. Provides leadership and oversight to planning efforts.
• Incentive Compensation Design: Designs, analyzes, and optimizes sales compensation and incentive programs that align pay with business objectives, drive sales performance, support organizational growth, and ensure market competitiveness and internal equity.
• Program Management: Evaluates, implements, and manages enterprise-wide compensation programs, ensuring compliance with legal and regulatory requirements. Directs program delivery and communication with senior leadership and executives. Responsible for the success and performance of key incentive initiatives. May oversee projects associated with change management activities.
• Pricing Expertise: Offers consultative guidance at the highest level of industry and organizational expertise. Acts as a resource to senior management, executives, and wider business units on all aspects of compensation.

Qualifications

Required:

• Bachelor’s Degree and 10 years of experience in Compensation, Human Resources, or Finance or High School Diploma or GED and 14 years of experience in Compensation, Human Resources, or Finance.
• Excellent consulting, influencing, collaboration, and partnering abilities with business executives/leaders and HR partners in a dynamic environment.
• Compensation or Variable Pay Program Design and Governance in Wealth Management, Consumer Banking, Commercial Banking, or a directly related discipline.
• Strong analytical, critical thinking, and data/information management skills.
• Strong technical skills; Advanced MS Excel and proficiency with other Microsoft applications.
• Experience with Workday, Pay factors, and UKG.

Preferred:

• Compensation consulting experience within financial services, preferably within a large financial institution.
• Broad-based compensation experience.
• Certified Compensation Professional (CCP).
• Outstanding problem-solving and decision-making skills.
• Ability to work independently on assigned duties while successfully collaborating in a team-friendly environment.
• Strong organizational and time management skills, as multitasking is essential.
• Excellent verbal, written, and interpersonal communication skills.

Pay

The base pay for this position is generally between $165,000 and $250,000. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits

Benefits are an integral part of total rewards, and First Citizens Bank is committed to providing a competitive, thoughtfully designed, and quality benefits program to meet the needs of associates. More information can be found at https://jobs.firstcitizens.com/benefits.