Compensation Advisor (18 Month Contract)

Job Code: 8271
Location: Waterloo, ON
Department: Human Resources
# of openings: 1
Job Type: Contract
Closing Date: 21/12/18

Description

WHY ECONOMICAL?

Because a changing industry calls for a new way of doing things. An ambitious, innovative and fast-paced company, we offer exceptional training and development programs, competitive pay, great benefits, a company-matched savings plan, and paid volunteer days — all within an engaging, fun, and collaborative work environment. Founded more than 145 years ago, Economical is one of Canada’s leading property and casualty insurance companies. We rely on our national network of more than 800 independent brokers to sell a range of car, home, business, and farm insurance solutions. With Sonnet and Petline, we’re extending our reach through the direct-to-customer channel. With more than 2,400 active employees across the country and a commitment to rethinking the insurance experience, we’re poised for great things. We’re now adding to our high-performance team to take us into the future. If you’re looking for a rare chance to expand your compensation experience and influence the shape of our future programs and processes in a rapidly changing organization, then this opportunity is not to be missed. Let’s rethink insurance, together.

Reporting to the AVP, Total Rewards and HR Shared Services, the Compensation Advisor is accountable for leading the design, implementation and administration of compensation programs to meet identified organization objectives and needs including job design and evaluation, salary administration, and annual compensation processes. They will conduct market research, spearhead program design and provide ad hoc reporting within their scope of broad compensation expertise.  The Compensation Advisor also regularly provides support to leaders regarding topics under its body of knowledge including compensation planning, practices and programs. This role also provides guidance to the Compensation, Analyst, HR Shared Services Analysts and HR Business Partners on job valuation, organization structure and compensation matters. Note: This is an 18 month contract with possibility of full time.

Responsibilities:

  • Consults with, advises and provides compensation expertise to senior leadership and business units regarding compensation practices, processes and programs.Assesses unique business issues and provides appropriate recommendations or solutions to senior and business unit leadership.Is recognized as an expert within the organization, both within and beyond own function.

  • Leads the planning, communication, execution and administration of annual base pay and incentive pay programs. Reviews and recommends enhancements to procedures and processes (on-going).Acts as the key resource for the variable compensation plans (short- and mid/long-term incentives). Develops training, processes and communications related to compensation.

  • Designs and implements effective processes for job documentation. In addition, partners with the HRIS team in the development and deployment and maintenance of a compensation administration system.

  • Supports the design, implementation, communication and administration of equity-based compensation programs by consulting with management, gathering market information and sourcing and maintaining vendor partner relationships.

  • Leads the annual process to assess market competitiveness, by leading participation in relevant salary surveys, acts as the contact point for surveys run externally, completes salary datasheets and questionnaires, and initiates and co-ordinates surveys run internally. Assisted by the Compensation Analyst and provides day-to-day guidance to the work of this role.

  • Conducts or oversees quantitative and qualitative analysis on compensation programs including in-depth analysis of market data, internal relativity, competitive positioning on base pay, pay ranges and total compensation. Partners with the Compensation Analyst, and provides day-to-day support and guidance to this role.

  • Designs or modifies the job evaluation and job frameworks, as needed. Coordinates the job evaluation committee process and provides oversight, guidance and job evaluation expertise to the committee. Partners in the review, analysis and evaluation of jobs, as well as validates recommendations from the committee. Assisted by the Compensation Analyst and provides day-to-day guidance to this role.

Job Requirements:

  • Minimum 5-7 years of compensation experience with no less than 10 years of HR experience.

  • Relevant university or college degree (HR, Business, Administration)

  • CCP designation complete or in progress would be an asset. CHRL designation also an asset.

  • Works independently, with guidance in only the most complex situations; demonstrated ability to actively partner with HR colleagues and enterprise leaders to influence and shape compensation programs and processes

  • Ability to translate information needs into spreadsheet design and help create insight from information; advanced knowledge of MS Excel with proven ability to create complex formulas, pivot tables, vlookups and conditional statements; strong numeric, data manipulation, spreadsheet and analytical skills

  • High attention to detail; ability to multi-task and work in a fast paced environment; client service orientation; strong planning and organization skills with the ability to execute complex process requirements; high degree of proactivity and a demonstrated ability to make things happen

  • Demonstrates professionalism when dealing with confidential and sensitive information

  • Key competencies:

    • Compensation expertise:Requires specialized depth and/or breadth of expertise, and ability to understand linkages between business strategy and compensation

    • Problem-solving: Anticipates internal and/or external business challenges and/or regulatory issues; recommends process, product or service improvements; anticipates internal and/or external business challenges and/or regulatory issues; recommends process, product or service improvements; solves unique and complex problems that have a broad impact on the business

    • Communication: Develops communication strategies and mechanisms which ensure that important messages are cascaded in a consistent, clear and timely way internally and externally as appropriate; prepares communications for and on behalf of leaders; produces well-structured reports and written summaries; ensures that important messages are being communicated and understood; communicates fluently and persuasively as required to a variety of audiences

    • Analytical thinking:Coordinates the information gathering and reporting process; reviews trends and compares to expectations; conducts research to define problems and prepares responses to anticipated questions; translates analytical reports into management presentations, and provides guidance to resolve issues; identifies areas of significant concern or opportunity

    • Self management: Comfortably handles risk and uncertainty and is decisive in the face of ambiguity; usessetbacks in a constructive way and demonstrates a mindset of continuous learning and improvement; anticipates and responds in a proactive manner to future needs that may not be obvious to others

HOW TO APPLY

To complete the online application process, you’ll need to upload your resume before you apply for the role you’re interested in. Please note that only one document can be uploaded, so be sure to combine your resume and cover letter.

We are committed to providing an inclusive work environment that welcomes diversity and supports accessibility across the organization. If you require accommodation at any time during the recruitment process, please let us know by contacting: hrsharedservices@economical.com.

Visit economical.com to learn more about us and what we’re up to.

Economical Insurance includes the following companies: Economical Mutual Insurance Company, Family Insurance Solutions Inc., Sonnet Insurance Company, Petline Insurance Company

 





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