Assistant Vice President, Compensation & Benefits (Laurel)
Tower Federal Credit Union is a member-owned, non-profit financial institution headquartered in Laurel, Maryland. Established in 1953, Tower manages $5 billion in assets and offers a full range of financial products and services to more than 220,000 members worldwide. The credit union serves local-area members through 12 branches in Anne Arundel, Baltimore, Howard, and Prince George’s counties, along with 4 branches at Fort Meade. Members also have access to mobile and digital banking via towerfcu.org, supporting convenient and secure account management. Tower’s mission focuses on providing competitive financial solutions and a strong member service experience. Tower is seeking a dynamic Assistant Vice President (AVP) for Compensation and Benefits to join our Human Resources team. Principal Accountabilities and Functions Manages activities and operations for employee payroll, compensation, HRIS, and benefits programs services to ensure timely, accurate, and effective delivery, and successful project management, to support Tower goals. Responsible for Compensation and Benefits annual budget. Recruits, manages and evaluates compensation and benefits staff to ensure a trained and motivated staff capable of providing professional HR services to Tower staff and management. Evaluates internal and market trends in compensation and benefits, developing new programs or enhancements to maintain competitive and compliant practices in support of Tower objectives. Plans and leads key projects with organization importance to successful conclusion through effective planning, leadership and control of relevant activities. Manages relationships and negotiations with benefits brokers and other vendors who provide professional services and benefits to Tower. Serves as lead technical expert to Tower employees, HR staff, and management regarding benefits and pay administration, responsiveness to competitive inquiries, requests for ad hoc analyses, and compliance with applicable laws and regulations. Manages the HR Business Continuity Program (BCP). Participates in organizational testing of BCPs to ensure effectiveness during an actual disaster or business disruption. Proactively monitors benefits program (medical insurance, 401k) to identify deficiencies to ensure Tower meets the needs of Tower. Researches competitive practices, recommends new programs or enhancements based on cost/benefit analyses, benchmarking, and alignment with Tower’s strategic direction. Annually reviews Tower's compensation levels relative to market, developing and recommending changes to the salary structure to attract and retain qualified staff; oversees job evaluation process, and/or serves as lead analyst for conducting job evaluations and communicating results. Serves as resource and contributor for executive compensation data analysis and recommendations. Manages Tower’s wellness program to assist in the health and meeting the needs of Tower employees and in full compliance of the law. Manages and drives HRIS enhancements to optimize delivery and reporting of payroll and benefits. Keeps apprised of pending legislation and court decisions affecting compensation and benefits, bringing the need to add or modify Tower's compensation and benefit practices to the attention of VP/CHRO with recommendations. Prepares materials and recommendations for executive leadership, Executive Compensation Committee and other Board members. Communicates with subordinates to resolve questions or interpret policy and procedures. Responsible for informing and updating the HR staff on policy and procedure changes, new services and government regulations as related to Compensation and Benefits. Where applicable, accepts responsibility for specific legal and/or regulatory compliance activities, including but not limited to compliance monitoring and reporting, developing materials and communications, serving as liaison to external authorities, conducting audits, participating in training updates, etc.) as determined by Senior Management. Required Qualifications Bachelor’s degree in HR, business administration or related field of study. Seven years of functional HR experience, the majority of which focused on managing and administering payroll, compensation and benefits plus (3) or more proficiencies in the following practice areas: compensation plans, job design, job evaluation processes, job description development, recognition and rewards programs, competitive compensation analyses, benefits plan administration and HRIS. Three years of supervisory experience leading and evaluating staff work. Professional certification such as SPHR, SHRM-SCP or CCP preferred; CEBS highly preferred Successful project management experience. PC proficiency with word and spreadsheet applications and payroll required. Or an equivalent combination of education and experience. Knowledge, Skills and Abilities Ability to work with math concepts and apply trend analysis, variance analysis, and correlation. Ability to create relevant and readable graphs, charts and presentations. Knowledge of payroll software/systems. Ability to write reports and procedure manuals for a diverse audience. Successful experience with and ability to interact directly with employees, vendors and the public with tact, sensitivity, respect and confidence. Ability to present information to Senior Management and Board of Directors. Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to initiate long- and short-term planning that supports business plans, following through with successful implementation. Ability to allocate and manage resources effectively, within budget parameters. Ability to develop action plans and organize workload, of self and others, to accommodate competing deadlines and projects. Ability to persuade others to consider merits of cause of action. Ability to initiate and follow through with individual development plans for assigned staff, provide constructive feedback to others, serving both as a coach and evaluator. Ability to negotiate contracts. Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC. Working Conditions Ability to work the hours needed, which may extend beyond the defined work schedule when operating conditions dictate. Ability to lift up to 15 lbs., with or without assistance, in compliance with ADA. Ability to travel to other Tower locations occasionally. This is a full-time, hybrid remote position with a starting salary range of $151,175 - $188,969 annually in addition to 5% bonus opportunity, and eligibility for a comprehensive benefit program which includes medical, prescription drug, dental, vision, company-paid life insurance, a 401K retirement plan with company match, and an employee assistance program. The hours are Monday through Friday from 8:00 - 4:30.
