RBC Senior Manager, Compensation - Wealth Management & Insurance in Minneapolis, Minnesota

What is the opportunity? The Senior Manager, Compensation, Wealth Management & Insurance is responsible for the design, development, implementation and communication of compensation solutions (salary, short term incentive and equity programs) that support and align with RBC's compensation principles and Business strategies and objectives. This position is responsible for providing executives and senior management with expert advice on all aspects of compensation programs, policies, initiatives and integrated HR solutions, ensuring they have a clear understanding of the financial and human capital impact of their HR compensation decisions. The incumbent is accountable to the Director, Compensation, for successful achievement of the agreed upon goals and objectives, driving a high level of performance, employee engagement, and a superior client experience. What will you do? Develop compensation strategies and frameworks that support the business goals and objectives, and is responsible for the advancement of compensation solutions (salary, incentive, direct drive, and commissioned programs). Design base salary, and incentive solutions that support RBC's attraction and engagement strategies, ensuring programs are aligned with RBC's compensation principles, financially viable, generate the highest return on investment and drive desired behaviour. Develop and work with HR Business Partners (HRBPs) and business leaders to develop and deliver compensation and integrated HR solutions that support major business change initiatives (mergers, divestitures, re-alignment of roles, etc.) Provide integration and alignment of compensation programs by providing HRBPs with advice, counsel and guidance on how to address compensation opportunities & challenges. Design and integrate compensation communication, ensuring HRBPs, People Managers and employees receive timely and easy to understand information on their compensation programs / changes to compensation programs Manage the cost effective research, collection, modeling and analysis of compensation data, providing HRBPs and Leaders with meaningful insights and actionable information and recommendations to help more effectively manage compensation resources and increase employee engagement Provide expert advice, counsel and direction supporting the business in its achievement of both its short and long term strategic objectives Manage business relationships by conducting root cause analysis, negotiate and find win / win solutions particularly when business leader / senior management perceived solution is a compensation "fix" to a non-compensation related HR issue Proactively leverage external networks to provide business partners with competitive intelligence, keeping abreast of market trends that could impact RBC compensation / benefit programs and developing the compensation solutions required to mitigate any loss / attraction of resources to achieve business objectives Drive efficiency and effectiveness through continuous process improvement, automation and streamlining Please note, this role can reside in either Minneapolis (Requisition ID 164669) or Toronto (Requisition ID 164630) and will require some travel in between. What do you need to succeed? Must-have Bachelor's degree, preferably in Finance, Economics, Business or a related field 5 years+ experience in compensation design and governance, ideally within the financial services industry Demonstrated experience in incentive design Strong technical skills in the design and management of sophisticated compensation programs Nice-to-have Experience providing competitive market analytics and insights Experience using a Web-based compensation tool (Pay Factors experience ideal) Experience in a large, complex Corporate environment, comfortable interacting with senior executives What's in it for you? We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to