Compensation Manager

Job ID: 2640

Category: HR

Opportunity Type: Experienced

Country: United States

State: IL

City: Chicago

Job Type: Full-time Salary

LI: Yes

Huron Consulting Group stands out as one of the fastest growing financial and operational consulting firms in the industry serving clients in the healthcare, education, life sciences, and business sectors. Huron helps clients improve performance, transform the enterprise, reduce costs, leverage technology, process and review large amounts of complex data, address regulatory issues, recover from distress and stimulate growth. Our professionals employ their expertise in finance, operations, strategy and technology to provide our clients with specialized analyses and customized solutions that are tailored to address each client’s particular challenges and opportunities to deliver sustainable and measurable results.

At Huron, we know our legacy is dependent on our greatest asset, our people. We understand that when you are considering your next career opportunity, you are assessing how you can make the biggest impact and be challenged with the most rewarding work. Huron’s entrepreneurial spirit is captured in our values based culture. Simply, it’s an unwavering commitment to always do the right thing by its clients, people, shareholders and communities. Huron’s core values – integrity, pursuit of excellence, accountability, collaboration, passion - capture the essence of who we are, how employees interact with others, and how business is conducted. In doing so, our shared values promise alignment of actions, incentives and true results. It’s the Huron way.

What will your legacy be?

Where will your legacy take you?

We invite you to learn more about your career at Huron. Visit us at www.huronconsultinggroup.com

Position Summary:

The Compensation Manager works collaboratively with the Director of Compensation, the compensation team as well as the HR Business Partners, Vice President of Operations and leaders within their assigned practice areas. This position is responsible for managing multiple aspects of compensation within the assigned practice/business areas including providing direction and consultative advice related to the development and monitoring of base pay, the development and tracking of variable pay and long-term incentive programs. The Compensation function at Huron is viewed by the executive team as key to the success of the business. The Compensation group works very closely with finance, accounting, legal, benefits, the head of HR and the business unit leaders.

This role requires the highest level of customer service, integrity, accuracy, ethical standards, and interest in working in a dynamic and collaborative team environment while also exercising a high level of autonomy to meet the job requirements.

Position Expectations:

Client Relationship Management:
• Establish and foster collaborative working relations with key clients and stakeholders that can include Business Leaders, HR, Operations, Recruiting, and Legal. Be recognized by your clients as a trusted strategic advisor through your understanding of their business and compensation expertise to enable the development of solutions that support the business needs.
• Provide a consistent level of communication and relevant data points keeping your clients informed of priorities, activity, results, and external market information.

Comp Design and Evaluation:
• Responsible for evaluating and designing solutions for compensation plans that support the business needs for individuals or broad populations, as needed. Manage the process and the stakeholders to ensure results balance business needs and compensation best practices in plan design.
• Evaluate the competitiveness of the compensation plans by compiling and analyzing statistical data from internal and external market sources. Formulate recommendations regarding salary ranges and incentive structures for specific jobs and development of company/practice salary structures.
• Advise managers as requested on individual hiring or promotion rates based on candidate or employee pay history, external market data, internal comparisons and policy guidelines.
• Assist in developing promotion and retention strategies.
• Provide compensation review and advice for potential re-organizations and/or acquisitions. Create interim compensation plans to blend the new and old plans to ensure a smooth transition.
Modeling and Analysis
• Develop complex spreadsheet models for financial analyses to determine the impact of compensation plan design changes or new plan proposals.
• Research and compile or generate reports and information required by management, governmental agencies, finance, accounting, operations, etc..
• Peer review all compensation reports reviewing formula and data entry errors. All reports, analysis and documentation created or provided must have the highest level of data integrity and accuracy. Attention to detail is critical for this role.

Administration and Compliance
• Lead the process with Operations and HR to determine methodology and approach to be followed in year-end pay administration. This includes budget analysis and recommendations, modeling results, and setting up the compensation support tool to comply with methodology and budgets agreed upon. Review results and present to leadership for approval\
• Provide documentation, support and review to ensure SOX controls and compliance is maintained.
• Analyze jobs to evaluate FLSA status and maintain documentation validating evaluation.

Project Management
• Project manage special projects with multi-disciplinary teams to accomplish goals of the compensation and HR department as assigned.

Job Requirements:

• Bachelor's degree
• Minimum of 6 years of experience in compensation roles
• Strong math and analytical skills
• Expert knowledge of the use of Excel
• Attention to detail, ability to multi-task, and prioritize
• Good verbal and written communication stills, as well as strong interpersonal skills
• Experience with Managed compensation design and administration for a complex organization
• Highly proficient in analytics and modeling
• Knowledge of accounting and finance implications of compensation plans and programs
• High level experience with commission and other sales plans
• Client service consultative mindset and acumen with experience managing the development and design of compensation programs in a complex, dynamic and fast-paced environment

Huron Consulting Group offers a competitive compensation and benefits package including medical, dental, and vision coverage to employees and dependents; a 401(k) plan with a generous employer match; an employee stock purchase plan; a generous Paid Time Off policy; and paid parental leave and adoption assistance. Our Wellness Program supports employee total well-being by providing free annual health screenings and coaching, bank at work, and on-site workshops, as well as ongoing programs recognizing major events in the lives of our employees throughout the year. All benefits and programs are subject to applicable eligibility requirements.

The Company is fully committed to providing equal employment opportunity in recruitment, employment, compensation, benefits, promotions, transfers, education and all other terms of employment. Huron will not discriminate on the basis of age, race, color, gender, marital status, sexual orientation, gender identity, national origin, religion, Vietnam era of veteran status, physical or mental disability, creed, citizen status or any other status protected by federal, state of local law. We endeavor to maintain a drug-free workplace.