Title: Compensation Consulting Practice Lead
1295 State Street
Springfield, MA 01111-0001
MassMutual Financial Group
In the world of financial services, it’s all about working with an established, highly respected company based on demonstrated indications of quality and performance. Who you choose to work with matters. Consider Massachusetts Mutual Life Insurance Company.
Founded in 1851, Massachusetts Mutual Life Insurance Company is at the center of the MassMutual Financial Group, a diversified financial services organization. Key subsidiaries include OppenheimerFunds, a leading mutual fund family; Babson Capital Management and Baring Asset Management, providers of specialized global investor services; and Cornerstone Real Estate Advisers which offers real estate equities. MassMutual has a broad portfolio of products and services including life insurance, mutual funds, money management, trust services, retirement planning products, worksite, annuities, disability insurance and long-term care insurance. MassMutual products are distributed through a nationwide network of trusted and knowledgeable financial professionals who think in terms of long-term commitment to meeting individual clients’ needs. Since 1851, MassMutual has made business decisions based on customer needs. Our mutual structure, along with our long-term business approach, has helped keep us strong. This strength means we will be here when our customers need us most. Together, we help people secure their futures and protect the ones they love.
MassMutual has maintained some of the highest financial strength ratings in any industry, and is committed to maintaining a position of preeminent financial strength by achieving consistent, long-term profitable growth. In total, MassMutual’s worldwide insurance in-force was $579 billion at the end of 2014, and assets under management were $651 billion, up 2%, reaching its highest point in history. MassMutual is ranked 94 on the 2015 Fortune 500 list and was again honored by Working Mother magazine as one of its “100 Best Companies”. DiversityInc for the fourth consecutive year, named MassMutual one of its “25 Noteworthy Companies” and for the first time as one of its “Top 10 Companies for LGBT Employees”.
This position partners with business clients and HR Business Partners on a consultative basis and other senior leaders/managers to ensure competitive and comprehensive compensation programs exist at all levels. This position will provide consulting to the Retirement Service business and Human Resource area. Develops and implements new and revised compensation programs, policies and procedures in order to be responsive to the company’s goals and competitive practices. Introduce innovative approaches and best practices to the function.
Reports to: The Vice President, Compensation
Other Key Relationships: Head of Human Resources, Head of HR Business Consulting, Head of Retirement Services, Compensation Consulting colleagues
The Compensation Consulting Practice Lead will be responsible for:
- Leading large compensation projects; understanding and anticipating the implications of potential companywide impact.
- Leading the design process for Sales Compensation plans for the Retirement Services business. Work with sales leadership to integrate the sales philosophy, objectives and goals into sales compensation plans. Design, model, implement and administer sales compensation plans, policies and procedures. Lead the assessment of sales effectiveness.
- Recommending solutions or alternative actions to resolve compensation-related problems.
- Recommending changes or new compensation processes as needed to optimize results.
- Educating client groups on compensation policies, programs, approaches, and best practices.
- Participating in market pricing initiatives and analyzing competitive market data to ensure competitive market position. Review internal equity and prepare proposals to management on salary adjustments.
- Aligning compensation programs with business needs of client groups and developing creative solutions for business retention and recruitment.
- Bachelor’s Degree required; Master’s degree strongly preferred.
- Certified Compensation Professional (CCP).
- Ten years plus experience designing, developing, and administering compensation programs.
- Previous Executive Compensation experience desired.
- Advanced compensation concepts, theory and design.
- Understanding of integrated HRIS processes, including compensation structure and job design.
- Effective organizational and interpersonal skills including written and oral communication skills.
- Excellent communication & presentation skills
- Demonstrated leadership skills and management experience required.
- Advanced working knowledge of MS Word, PowerPoint, and Excel (high degree of proficiency working with macros, pivot tables, etc.)
- Must be detailed oriented with high degree of accuracy in analyzing and compiling large amounts of data; ability to effective convey data to others less technical or analytical.
- Team-oriented & collegial approach to work
- General knowledge of HR business practices
- Strong analytical, decision-making and consultative skills
- Strong interpersonal skills as exhibited by the ability to influence others and build collaborative relationships both within HR and across the organization with individuals at all levels
- Experience in a progressive Fortune 500 (large) company environment preferred.
- Applicants must be authorized to work in the U.S. without sponsorship now or in the future.
Business Acumen: Demonstrates knowledge of the interdependencies of key business processes, functions and risks. Identifies and uses the key financial indicators necessary to measure business performance. Knows the competition; is aware of how strategies and tactics work in the marketplace. Identifies and anticipates customer requirements, expectations, and needs.
Critical Thinking: Critically and logically evaluates the costs, risks, and benefits of alternatives before coming to a solution. Probes and looks past symptoms to determine the underlying causes of problems and issues. Approaches problems holistically, defines connections, linkages, interdependencies and develops solutions. Takes ownership of problems and stays on top of them until resolved
Execution/Drives Results: Makes quick decisions in high stakes situations, crises, or conditions of uncertainly. Critically and logically evaluates the consequences and implications of alternatives, actions, or decisions.
Improvement & Innovation: Focuses efforts on continuously improving practices that create value. Drives the organization to leverage fresh perspectives, breakthrough ideas, and new
paradigms to create value in the market. Creates an environment that encourages innovation and risk taking.
Communications: Ability to engage in and model courageous and constructive dialogue;
confidence to offer a new and potentially challenging idea to foster conversation and critical thinking; ability to successfully deliver difficult and/or complex messages and help others understand multiple points of views.
We pay competitive base salaries and we reward performance. Our salary structure is commensurate with
experience. In addition, you will be eligible to participate in our comprehensive benefits program including medical insurance and 401(K).
Katherine H. Cooke