Director, Total Rewards

WHO WE ARE

HomeEquity 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

• Customer-Focused
• Passionate Advocates
• Courage to Act. Do the Right Thing
• One Team. One Vision
• Think Long-Term
• Ever-Evolving
• Be Exceptional
• Inspire Greatness

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.

Primary Responsibilities

• Total Rewards & Compensation Strategy

  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.

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 skillsto 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).

The Perks

• 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

Accommodation and Background Check

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.

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