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Senior Manager Compensation (Hybrid or Remote)

Company: Mechanics Bank
Location: Irvine
Posted on: January 22, 2023

Job Description:

Mechanics Bank is currently searching for a Sr. Manager Compensation. As the leader of Compensation, the Sr. Manager, Compensation is responsible for providing strategic analysis, planning, and project management for Mechanics Bank's compensation programs. This position will participate in the end-to-end design, management and administration of compensation activities including overall design, base salary and variable pay administration. This role will partner with key stakeholders to align compensation initiatives with business objectives, company culture and build/enhance our compensation strategy, philosophy and job architecture to ensure alignment and competitiveness within the market. The Sr. Compensation Manager will provide oversight, leadership, training and guidance to team members and coordinate work assignments as needed.

What you will do:

  • In collaboration with the CHRO will plan, develop, and execute employee compensation programs; Recommends compensation policies and related procedures that have a bank-wide impact. Oversee and manage all aspects of compensation including, but not limited to - incentive plans, bonus plans, 25% phantom stock, LTIP, SERPS, retiree plans, deferred and executive compensation. Builds local Compensation Review processes in coordination with the annual bank compensation process.
  • Will manage a team of compensation professionals. Provides Compensation training and guidance to team members, as needed, in the areas of job code development and maintenance, job evaluation, pay analysis, surveys, market data. Partner closely with the recruiting organization to ensure sound, compelling and attractive offers are extended to secure the vital talent to scale us to our projected growth.
  • Manages compensation survey participation and analyzes survey data and makes recommendations for salary range adjustments and individual market or equity adjustments. Oversees the bank wide salary structure by reviewing job descriptions for new or revised jobs, evaluating job content, determining salary grades, FLSA exemptions, job revisions and organizational structures in HRIS. Manage the annual merit process.
  • Develops and runs customized reports and data extracts and provides special project support as required. Prepare special studies and recommendations related to compensation or benefit plans, processes or expenses. Prepares various analytic modeling for salary and variable pay.
  • Performs trend analysis and best practice research to develop analytics that support and influence compensation decisions. Reviews existing and proposed statutory requirements governing compensation administration and recommends appropriate courses of action.
  • Manages local adherence to compensation processes and timelines. Develops and executes project plan for the annual compensation review cycle, which involves designing and coordinating the project team. Prepares company-wide communications for annual compensation and benefits projects.

    Who you are:
    • As part of the California Fair Pay Act, analyzes compensation annually to ensure equity without regard to gender, nationality, ethnicity or other protected status and makes recommendations for adjustments as needed. Manage and ensure all compensation are compliant with all local, state and federal laws and regulations including but not limited to FLSA, AAP and ERISA.
    • Expert knowledge of job evaluation methods & market pricing --- Expert knowledge of deferred and executive compensation
    • 401k and retirement plan experience --- Expert knowledge of laws and regulations relating to compensation administration (i.e. FLSA, California Fair Pay Act, Dodd-Frank Act)
    • Expert skills in MS Word, Excel, PowerPoint and Outlook; must be able to effectively use Excel for reporting and data analysis (Pivot Tables, V-lookups, etc.) --- Strong research, written and verbal communication skills
    • Proven presentation skills to senior leadership
    • Must be service oriented and possess excellent interpersonal skills
    • Effective time management and project management skills
    • Excellent collaboration and partnership skills
    • Ability to use tact, discretion and good judgment
    • Familiarity with Workday highly preferred
    • Proven leadership skills
    • Banking/Financial Industry experience a plus
    • Proven ability to present to and interact with senior level executives
    • Must possess excellent human relations skills and time/project management skills in order to establish and maintain effective working relationships and project teams.
    • Bachelor's Degree preferred
    • Minimum 7 years of compensation experience
    • Minimum of 3 years of leadership experience
    • Certified Compensation Professional (CCP) designation strongly preferred


      • Mechanics Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, religion, national origin, age, genetic information, veteran status, or on the basis of disability, gender identity, sexual orientation or other bases prohibited by applicable law.
      • Please view Equal Employment Opportunity Posters provided by OFCCP here.
      • To learn more about Mechanics Bank's California privacy and security policies, including your right to a Notice At Collection as a California Resident, please visit
        Pay Range
        $127,600.00 - $178,640.00

Keywords: Mechanics Bank, Irvine , Senior Manager Compensation (Hybrid or Remote), Executive , Irvine, California

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