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VP Compensation & Benefits

UL (Underwriters Laboratories)


Location:
Northbrook, Illinois 60062
Date:
01/05/2018
2018-01-052018-02-04
Job Type:
Employee
Job Status:
Full Time
Categories:
  • Legal
  • job_category_human_resources
  • Benefits
  • Communications
  • Compensation
  • Employee Relations
  • International HRM
  • Training/Development
UL (Underwriters Laboratories)
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Job Details

The Vice President, Compensation & Benefits is responsible for strategic leadership in developing and deploying the global compensation and benefits strategy and philosophy, program design, implementation and communication/marketing.

This role provides the strategic direction for the total rewards infrastructure to support the attraction, retention and motivation of UL employees world-wide, ensuring compensation and benefits are aligned with UL’s strategy and culture to engage a high performing workforce.

This role works collaboratively with the SVP CHRO, senior leaders, Finance, Legal, and external partners to design appropriate compensation and benefits programs including broad based and executive compensation programs. The VP Compensation and Benefits prepares reports for and presents to the company’s Board of Trustees/Directors at quarterly Board meetings and is integral to the company’s merger and acquisition activities including due diligence and integration of total rewards programs.

This role is located in Northbrook, IL (northern suburbs of Chicago) and reports to the SVP CHRO and works closely and collaboratively with various HR stakeholders including Talent Management, Talent Acquisition, and the Business Unit and Geography Human Resources Partners.

Responsibilities:

  • Lead Total Rewards function to effectively evaluate, design, propose, implement, and communicate UL’s compensation and benefits strategy, philosophy, programs, policies and initiatives that competitively position UL in the attraction and retention of talent and are aligned with the strategy, priorities, business model and culture.
  • In partnership with Executive leadership, establishes and executes an aligned, holistic and innovative compensation and benefits function with clear strategies and consistent practices that maintain and attract top talent.
  • Creates and drives strategy that supports a diverse workforce of top talent to help UL achieve its growth strategies.
  • Lead the development and implementation of health and welfare and retirement programs ensuring competitive, sustainable, cost-effective plans and programs for all UL’s executives, senior leaders, managers and colleagues worldwide.
  • Design and implement compensation plans to include competitive short and long term incentive plans for executives, senior leaders, managers, sales and all colleagues.
  • Actively involved in merger and acquisition activities including due diligence, evaluation and integration of pay and benefit programs.
  • Actively promote an understanding and appreciation of UL’s Total Rewards program, including the creation and deployment of an ongoing communication strategy, programs to educate leaders and managers, and use of portal technology.
  • Provide expertise and adapt compensation and benefits design/approach to align with market trends and business strategy.
  • Manage all activity related to published compensation surveys throughout the year and audit survey output, market trends and competitive pay positions to ensure salary plans meet overall company goals and objectives.
  • Prepare compensation and benefit program recommendations and reviews for presentation to UL’s executive team and Board Members.
  • Lead annual compensation and bonus distribution planning process to ensure successful delivery, competitiveness and alignment with the compensation philosophy to drive a high performance culture.  
  • Ensure compensation and benefits plans comply with legal and other regulations and manage processes and controls to ensure compliance with regulatory agencies and internal controls.
  • Establish and manage compensation and benefit’s related budget and provide audit support as necessary.
  • Proactively manage relevant vendors, auditors, and consultants and negotiate contracts for compensation and benefits products and services on behalf of UL.
  • Ensure ongoing analysis and evaluation of services, coverage, and options available through insurance and investment companies to ensure programs best meet the needs of the organization.
  • Lead compensation and benefits team in accordance with company values to promote a positive, high-performing, fun, innovative and growth-oriented environment that consistently delivers results.
  • Provides guidance to continually improve the performance of direct reports. Defines accountabilities, establishes performance objectives, provides regular ongoing feedback and guidance, and ensures that policies are understood and followed.
  • Stays current on market trends in compensation and benefits through publications, webinars, seminars, and networking with providers, consultants and peers.
  • Performs other duties as required.

Requirements

  • University Degree (equivalent to a US Bachelor’s degree) in Human Resources, Business, or related field and generally 12+ years of HR experience required. An advanced degree is preferred. Professional certifications (SPHR, CCP, CEBS, etc.) preferred.  
  • Global experience required, including working in a matrix environment, M & A due diligence and integration, Board relations and corporate governance.
  • Knowledge of leading practices and external trends in compensation, benefits and HR technology systems.
  • Demonstrated track record and expertise in building, leading and managing a successful Total Rewards/Compensation and Benefits function, designing and developing compensation strategies and plans in a global company environment, to include: executive compensation, pay-for-performance, corporate governance, short term incentive planning, long-term equity pay programs and other compensation vehicles.
  • Knowledge of the legal environment of compensation and benefits globally. Experience in compliance with local regulations, for example FLSA, ACA, ADA, COBRA, ERISA, FMLA, HIPAA, Form 4958 in the US and trade unions, works councils and statutory benefits outside of the US.
  • Previous experience leading, managing and building teams in a fast paced dynamic environment. High energy and drive to create an environment of continuous improvement, high performance and engagement.
  • Strong executive presence and leadership capabilities, with the ability to influence senior level leaders and other key stakeholders.
  • Ability to manage multiple tasks in a high paced, growing global company. Strong project management skills and the ability to work collaboratively with HR colleagues and the business partners are essential.
  • Exceptional interpersonal, leadership, and communication skills are key to success, including strong listening, negotiation, persuasion and facilitation skills with all levels of leadership and employees.
  • Strong customer centric philosophy.
  • Strong coaching skills that lead and motivate senior leaders and others in the organization.
  • Strong results orientation, adaptability/flexibility and organization skills with the ability to handle multiple priorities simultaneously.
  • Strong business skills and ability to critically think – analyze, synthesize and evaluate information to help the business grow and succeed.
 

Contribute to a Safer, More Secure, and More Sustainable World.

At UL, we know why we come to work. Thousands of us around the world wake up every day with one common purpose – to make the world a safer, more secure, and more sustainable place to live. We clear the way for our customers to introduce the latest products, technological advances, and systems in an increasingly complex world so they can provide peace of mind to the market. Our integrity is woven throughout our company and shapes the way we approach deliver our solutions. We are proud that the work we do every day has a meaningful contribution to society. We continue to build upon our legacy of trusted expertise and partnership to keep our communities safe and secure as we march forward into the future. This helps us to sleep better at night, and we are confident that the millions of people we touch rest easier too.

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