Director, Compensation

Bank OZK•Little Rock, AR

11d

About The Position

Responsible for planning, developing, implementing, and managing compensation strategy, programs, policies, and procedures to meet Bank OZK’s current and future business needs. Ensures compensation is consistently administered in compliance with applicable Bank policies and federal, state, and local government regulations.

Requirements

Comprehensive knowledge of compensation design, planning, methodology, and analytics
Comprehensive knowledge of government regulations and laws as they pertain to compensation
Working knowledge of other functional areas of HR
Ability to demonstrate effective leadership and consensus-building skills in a dynamic environment
Ability to manage multiple priorities and projects, adapt quickly to changing needs, and interact with all levels of management
Ability to demonstrate effective negotiation skills, including the ability to persuade and influence decision makers
Ability to demonstrate effective project management and organizational skills
Ability to demonstrate strong business acumen
Ability to complete accurate, detailed work and meet exacting deadlines
Ability to accurately interpret large amounts of data and present such data in an understandable format for others
Ability to communicate effectively both verbally and in writing
Ability to provide excellent customer service
Ability to work effectively in a team-oriented environment
Ability to work without close supervision
Ability to maintain confidentiality
Ability to follow policies and procedures and to communicate them accurately to others
Ability to demonstrate effective critical thinking, analytical, and problem-solving skills
Skill in using computer and Microsoft Office products (i.e., Word, Excel, PowerPoint, Outlook), and other HCM technology
Bachelor’s degree, preferably in human resources, business administration, finance or related field, or commensurate work experience, required
10+ years’ experience designing, developing, and managing compensation strategies

Nice To Haves

PHR, SPHR, CCP or other relevant certification preferred
Familiarity with various HCM and compensation technology preferred

Responsibilities

Plans, develops, implements, and manages compensation strategy, programs, policies, and procedures to support the Bank’s strategy and goals.
Ensures compensation programs are administered consistently and fairly in compliance with the Bank’s compensation strategy, policies, and government regulations.
Monitors the effectiveness of existing compensation policies and procedures while recommending plan revisions or new plans consistent with the Bank’s objectives and compensation trends.
Manages and develops incentive compensation plans in conjunction with business line leaders and management.
Actively participates in the Salary and Workforce Planning process.
Provides advice to management regarding pay inquiries and decisions.
Performs proactive and ongoing assessment of compensation plan(s) effectiveness and competitiveness.
Manages the development of job architecture, job descriptions, salary bands, and salary grades, and works with various vendors and internal staff to ensure appropriate pay position in each of the Bank’s markets and in compliance with various regulations.
Leads efforts to participate in external compensation surveys relevant to the Bank’s national markets.
Participates in preparation of recommended salary rate changes as appropriate to establish and maintain competitive rates.
Maintains documentation and ensures compliance with current risk and control processes and reporting requirements and participates in internal audit examinations related to compensation and regulatory compliance.
Leads, directs and mentors the work of compensation analysts and/or other administrative staff.
Keeps apprised of federal, state, and local compensation laws and regulations to ensure compliance.
Works directly with other HR leadership to ensure the proper classifications are assigned to all positions.
Serves on various committees or sub-committees as appropriate.
Produces accurate, thorough, and timely work, while meeting commitments and following policies and procedures.