Head of Executive Compensation- Managing Director

Position Specification

The Head of Executive Compensation, Managing Director will be responsible for the design and administration of State Street’s global executive compensation programs including base salary, short and long term incentive plans, executive benefits and Board of Director compensation. The position will report to SVP, Global Human Resources.

Key Responsibilities

• Work closely with senior leadership in developing a deep understanding of State Street’s business model, global product offerings, competitive positioning and growth opportunities. Design executive compensation and benefit programs which motivate achievement of operational and strategic goals and recognize progress toward those goals.
• Research and understand the design of compensation programs in successful “partnership” organizations as well as innovative compensation trends which support business collaboration. Conduct thorough analyses of plan design in the financial services industry and compensation design at competitor companies.
• Analyze the effectiveness of current executive compensation programs including the correlation of payout to business achievement, behavior motivation, ability to attract the best talent, retention of best talent, internal equity and competitive positioning.
• With the knowledge of best of class practices, strategic business direction, competitive positioning and current program design, develop a gap analysis which demonstrates opportunity for program design which would better drive business performance.
• Work closely with senior human resources and line leadership as well as the Compensation Committee of the Board of Directors in understanding their perspective, communicating the results of analyses, discussing and gaining their input into design options and developing consensus for final design changes.
• Design and administer BOD compensation.
• Design compensation programs for new joint ventures and acquisitions, summarizing the design distinctions and cost ramifications for review by HR and BU leadership.
• Ensure the flawless implementation of all executive programs including administration, improvement of existing processes, and individualized/custom solutions.
• Develop and present analyses and recommendations to senior leadership and the Compensation Committee of the Board of Directors.
• Develop clear and concise communications of executive programs. Articulate the correlation of program design to business strategy including the financial and nonfinancial business targets.
• Understand and apply tax regulations, labor and Securities and Exchange Commission laws, Sarbanes Oxley, financial reporting requirements such as 409A and 162m, and all other regulatory requirements. Ensure the design and administration of compensation programs are in compliance with internal governance issues. Understand the global and in-country implications of executive compensation.
• Work with outside consultants and legal counsel in the development and implementation of compensation programs and the communication thereof.
• Work closely with the legal, risk, and finance organizations in the design and administration of compensation plans.

Requirements

• At least 7-10 years of progressive, hands on experience at a best of class company or consulting firm.
• Experience in executive compensation required.
• Advanced degree in human resources or an MBA highly preferred.
• Strong business acumen and the ability to understand business strategies, objectives, and key performance metrics.
• Exceptional business management skills including planning, project management, financial management, translating business requirements into compensation strategies and plans.
• Change orientation and be willing to flex his/her approach based upon the dynamic needs of leadership and the business.
• Ability to think strategically, prioritize and execute flawlessly. Innovative, mentally agile, with a good measure of common sense and sound judgment.
• Ability to listen, learn and creatively build solutions that are practical and effective for the organization.
• Passionate about integrity, transparency and maintaining the highest standards of quality.

• Strong communication and influencing skills, which command the respect of the peer group, subordinates, and executives throughout the corporation.

• Collaborative decision making and work style.