Compensation Consultant, Officer at State Street
Posted in Management 9 days ago.
This job brought to you by eQuest
Location: Boston, Massachusetts
You will join a dynamic and highly collaborative team of seasoned financial services compensation professionals within Global Total Rewards (GTR), supporting the business strategies of State Street Bank & Trust business units globally. You will work within and across functions to support the flawless implementation and execution of all broad based compensation programs for the assigned group(s) and contribute to company-wide initiatives. Business units covered by the team include: Alternative Investment Solutions, Global Delivery, Global Exchange, Global Markets, Global Services and all corporate functions.
- Work with Compensation Partners to plan, prepare, and execute State Street’s annual Total Compensation Process (TCP), including base salary and incentive compensation planning, pool sub-allocation modeling, validation of eligibility, promotion process, detailed reporting, analysis of pay outcomes and spend management.
- Build and work with detailed models and analyses based on large data sets to review and assess competitive pay positioning. Use these same skills to assist compensation partners in the support of special projects (e.g., reorganizations, global footprint, mergers & acquisitions due diligence and integration). Exercise critical thinking and strong technical/business writing skills to synthesize the results of complex analyses into salient points important to GHR, GTR and line management. Make data-driven recommendations.
- Serve as a subject matter expert regarding skills, responsibilities, scope of roles, and appropriate alignment under State Street’s Job Architecture, internal compensation ranges, and external benchmarks. Conduct ad-hoc benchmarking requests, job analyses, and role evaluations.
- Collaborate with State Street’s in-house Talent Acquisition team to develop competitive offers for internal and external executive and non-executive talent, including appropriate compensation elements (e.g., base salary, incentive compensation, deferred cash, equity) while ensuring alignment with State Street’s compensation philosophy and adherence to established decision rights/approval requirements.
- Support the implementation and execution of auditable processes that ensure risk excellence and compliance with State Street Global Total Rewards’ controls framework. This framework is informed by applicable laws and regulatory guidance in the jurisdictions in which we operate ( e.g., FLSA, OFCCP, US Federal Reserve guidance, European Central Bank and Country-specific regulations and guidance, etc.).
- Bachelor's degree is required
- Minimum of 3 years of professional experience in a compensation or benefits role or equivalent experience in human resources, economics, finance, consulting, or other roles in financial services.
- Highly collaborative team player with a process improvement mind-set
- Strong problem solving, attention to detail, critical thinking, financial analytics and modeling
- Strong verbal communication, and corporate/business writing
- Strong MS Excel, proficiency in MS Powerpoint and MS Word
- Financial Services or Consulting industry experience highly preferred
- WorldatWork Certified Compensation Professional or related coursework/certifications (CCP, ACCP, GRP, CERP) a plus
- Experience in MS Excel managing large data sets, summary analysis through arrays, conditional formatting, and pivot tables a plus. Database design or administration experience is a plus
- Experience with Workday or similar HRIS (e.g., Kronos, PeopleSoft), benchmarking platforms (e.g., MarketPay, PayFactors), and comfort adapting easily to new technology tools is a plus