Job descriptionHomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.
OUR VALUES, OUR PASSION At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
Courage to Act. Do the Right Thing
One Team. One Vision
Think Long-Term. Ever-Evolving
POSITION SUMMARY The role is both a hands on and strategic leader, responsible for developing a strategically aligned and appropriately competitive Total Rewards strategy and leading a highly effective, customer-centric small team of professionals. It will drive our compensation philosophy and programs, manage Total Rewards, and play a key role in Executive Compensation, Equity, and Governance.
This is a critical role that reports to the Vice President, Human Resources. Along with HR Functional Leaders the selected candidate will be empowered to motivate and develop members of the HR team to scale and raise performance while operating in a high growth environment.
MAJOR ELEMENTS OF THE ROLE Primary Responsibilities
In partnership with Vice President, Human Resources, will develop and lead the implementation of the Bank’s Total Rewards strategy, including defining our compensation philosophy and identifying ways to differentiate as an employer of choice
Monitor external trends, practices, and innovations in Total Rewards to ensure market competitiveness of the Bank’s Programs
Manage all health and retirement plans and oversee annual benefit plan renewals in partnership with the Bank’s external consultants
Participate in the preparation of materials and reports as required for the Corporate Governance and Compensation Committee, and the Board of Directors
Lead the RFP process for the selection of external services providers in accordance with vendor management policies and procedures
Ensure Total Rewards Programs are effectively communicated
Ensure compliance with all relevant legislation including (but not limited to) Federal Pay Equity, FSB Principles for Sound Compensation Practices, etc.
Compensation Administration, Job Architecture And Job Evaluation
Lead compensation programs by developing policies, tools and processes to ensure programs are effectively managed, market competitive, and support Home Equity Bank’s pay for performance philosophy
Oversee the flawless execution of year end compensation cycles, from budget recommendation to processing and communication.
Oversee job architecture and job evaluation, partnering with HR Leaders and stakeholders to address unique cases and respond to changes in organizational strategy.
Maintain the Bank’s compliance with Federal Pay Equity legislation, and act as the key Management representative on the Bank’s Pay Equity Committee
Partner with the Bank’s Sales Leadership team to develop, communicate, and administer all Sales Commission Plans
Equity Administration
Oversee the Bank’s Executive Equity Program administration, including key inputs into formal plan documents and board resolutions related to Option and RSU grants, Option exercises, and Share sales
Oversee the Bank’s Employee Share Investment Plan (ESIP)
Leadership & Strategic Partnership
Provide leadership, coaching, and direction to Total Rewards professionals and collaborate closely with peers to raise the bar of HR programs in general
Function as a strategic partner and subject matter expert within the People & Culture (P&C) leadership team, contributing to overarching P&C strategies, while embracing the “Stronger Together” philosophy.
SKILLS AND EXPERIENCE REQUIRED Qualifications and Technical Expertise
Significant progressive experience in Total Rewards, and proven experience operating in a highly regulated environment.
Experience in private equity and or managing long term executive compensation plans an asset
People and strategic leadership experience, with a proven track record of leading, motivating, and developing high-performing teams
University degree with an HR related qualification preferred
Expert data management and reporting skills including Excel, HRIS (Workday), compensation planning systems set-up and implementation/customization
Familiarity with Shareworks preferred
Attributes
Excellent communication, presentation, facilitation and influencing skills to effectively engage stakeholders at all levels
Strategic thinking and ability to develop and execute complex plans
A proven client partner and relationship builder
Executive presence and ability to collaborate and build credibility with, and influence senior leadership
Superb attention to detail, strong analytical and problem solving skills
Ability to adapt to evolving business demands in a planned and organized manner
WORKING CONDITIONS UNIQUE TO JOB
Hybrid office environment (3 days a week in office)
WHY WORK AT HOMEEQUITY BANK? HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
A Dynamic Culture – With People at the Centre We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada’s Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada’s Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.
Growth and Opportunities We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.
Celebrating Great Work and People We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.
From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.
Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.
The Perks (for eligible employees)
HomeEquity Bank offers a competitive total rewards package that includes:
Extended health and dental benefits
Employee & Family Assistance Program
Employer-Matched Group Retirement Savings Plan
Employee Share Investment Plan
Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
Employee corporate discount for GoodLife Fitness
HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Please note that our successful candidate is required to complete a background check.
Stay in the Know About Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:
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Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.
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