Mgr Total Rewards

MANAGER TOTAL REWARDS

WHAT IS THE OPPORTUNITY?

Manager, Total Rewards supports the SVP, Compensation and Benefits (RBC) and the CNB Chief Colleague Officer (CCO) in leading the strategic direction and contribution of the global team responsible for the delivery of compensation and benefits programs for the City National Bank business line. Specifically, to provide oversight to the program design and execution of the CNB EMIP (Executive Management Incentive Plan), the CNB AIP (CNB Annual Incentive Plan), oversee the remaining 60+ business aligned compensation programs, salary structures/administration, and finally lead all compensation risk and performance frameworks, standards and policies in support of the CNB Compensation, HR & Corporate Governance Committee requirements. Responsible for the overall strategy, design, implementation, communication, and administration of the organization’s colleague benefits and leaves programs that includes health, life, disability, wellness, qualified and non-qualified retirement plans, and multiple types of leaves of absence (including workers compensation administration). Negotiates and reviews vendor contracts and manages third party vendors for delivery of contractual and service expectations. This position is accountable jointly to the SVP, Compensation & Benefits (RBC) and the Chief Colleague Officer, CNB for successful achievement of the agreed upon goals and objectives, driving a high level of performance, colleague engagement, a positive client experience and sustainable value creation for CNB colleagues and RBC shareholders.

Human Resources Division
Through this role, you will have the opportunity to make a difference as a member of City National’s Human Resources (HR) team, a diverse and dynamic group focused on supporting the full lifecycle of colleagues through an exceptional workplace experience.

WHAT WILL YOU DO?

• Compensation:
• Oversee the management of the EMIP, AIP and all business aligned compensation programs/policies ensuring programs are administered in keeping with local CNB and enterprise RBC compensation principles and framework.
• Develop executive compensation strategies, philosophies, principles and frameworks, ensuring programs are motivational, financially viable and generate the highest return on investment.
• Provide advice, counsel and support to the CNB CCO and the SVP, Compensation & Benefits (Toronto) and the CNB Compensation, HR & Corp Gov Committee to achieve short and long term strategic objectives, identifying opportunities to provide integrated compensation solutions that deliver a competitive advantage to CNB and RBC.
• Leverage external networks to provide CNB leaders with competitive intelligence, keeping abreast of market trends that could impact direct drive and executive compensation programs and developing compensation solutions that focus on retention and attraction of colleagues.
• Oversee colleague and executive compensation related transactions including offer letters, appointments, terminations, severance and retirement.
• Drive efficiency and effectiveness in core processes through a focus on continuous process improvement, automation and streamlining.
• Build strategic salary structures and frameworks to attract and retain talent. Conduct periodic benchmarking and make necessary adjustments to structure.
• Compensation Governance:
• Monitor legislative, regulatory, and compliance changes which can impact CNB’s compensation programs.
• Ensure compensation reports/presentations for the CNB Compensation, HR & Corp Gov Committee of the CNB Board of Directors provide meaningful insight and information as needed by the Board of Directors, CNB CCO, CNB CEO and the CNB S&P Committee.
• Establish strong controls/governance around the preparations of annual regulatory responses to the OCC, SEC, US Fed, and other regulatory bodies as required, ensuring the information provided is accurate, complete and fit for purpose.
• Benefits:
• Set strategic direction for all benefit programs with the goal of supporting business objectives, driving efficiency, maintaining cost effectiveness, and adding value that meet the needs of a diverse workforce and attract and retain talent.
• Provide strategic advice and direction on U.S. 401(k) and benefits plan design to ensure alignment with CNB and RBC strategy
• Proactively recommend opportunities for improvement for better alignment with business objectives and the colleague value proposition, and, enhanced cost-efficiency and cost containment measures long-term
• Leverage external networks to provide CNB and RBC with competitive intelligence, keeping abreast of market trends that could impact CNB and RBC’s U.S. 401(k) and benefit programs and developing appropriate solutions
• Partner with HR Business Partners and senior business leaders to address business issues and colleague concerns and creatively bring solutions that are aligned with RBC’s goals and values
• Develop colleague communication, senior leadership communication, manager and colleague training material relative to the U.S. 401(k) and benefit plans
• Proactively assess and respond to global legislative developments, regulatory requirements, and trends that impacts the design and or operations of CNB’s retirement savings and benefits plan globally propose solutions and quantity risks and implications
• Preparation of pension committee and Board material
• Oversee the CNB Profit Sharing Plan, working with local CNB Finance to determine payouts and with Toronto HR and Finance to finalize and approve payouts annually in a time manner.
• Responsible for CNB’s disability management and wellness programs
• Leadership Capabilities / Managerial Excellence:
• Demonstrate the CNB Leadership Model and Values and abide by the Code of Conduct
• Develops colleague goals that align to team vision and demonstrates commitment to CNB Leadership Model, Collective Ambition and Values
• Provides real-time, constructive performance & behavior coaching that strengthens colleague engagement and enablement
• Supports & monitors colleague development/career management to build/grow professional capabilities
• Fosters an open and ‘safe to speak up’ environment that drives a high performance culture
• People Management:
• Lead a team of ~15 to 25 staff
• Coach, manage and take personal responsibility to build a diverse team committed to RBC’s values, accountability and a high performance, ensuring colleagues are empowered to make decisions needed to drive business / operational excellence.

WHAT DO YOU NEED TO SUCCEED

Must-Have*

• Bachelor’s Degree in related field
• Minimum 10+ years of experience in HR/senior leadership
• Minimum 10 years’ experience in building, managing and developing fully engaged teams.
• Advanced proficiency in HRS, Excel, Word, PowerPoint and document sharing applications.

Skills and Knowledge

• Excellent presentation and communication skills; demonstrated ability to accurately and concisely identify key issues and communicate them in an inspiring manner with clarity.
• Strong negotiation and influencing skills, leadership presence, networking skills, listening skills and interpersonal sensitivity.
• Experience successfully building and leading Total Rewards team in dynamic and fast-paced, high growth environments-hiring/managing exceptional team and providing coaching and training.
• Ability and inclination to roll up sleeves and dig in is a must; so too is the ability to handle multiple functions simultaneously and independently.
• A very strong drive, dedication and work ethic; team orientation with the ability to contribute; and the ability to thrive in a high-growth, corporate environment.

Compensation

Starting base salary: $157,943 – $293,299 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.

ABOUT CITY NATIONAL

We start with a basic premise: Business is personal. Since day one we’ve always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.

Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled