Job Summary
The Head of Executive Compensation is responsible for designing, implementing, and managing the bank's executive compensation strategies. This includes overseeing the compensation structure for our senior leadership team (the Executive Committee), ensuring it aligns with the bank’s goals, regulatory requirements, and industry best practices. The role involves developing competitive, performance-driven compensation programs that attract, retain, and motivate top-tier executive talent. This role will work closely with the broader Rewards function, senior leadership, HR, Legal, and external partners to ensure that the State Street’s executive pay programs are appropriately aligned to performance while attracting and motivating our executive talent.
Key Responsibilities
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Lead the development and implementation of executive compensation programs for the Executive Committee.
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Drive a strong linkage between pay-for-performance and the company’s strategic goals through carefully constructed compensation plans.
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Ensure that compensation structures are aligned with business objectives, competitive in the marketplace, and compliant with all regulatory requirements.
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Regularly benchmark compensation data to ensure pay structures remain competitive.
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Provide strategic advice to senior leadership on the effectiveness of current programs and recommend changes as needed.
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Work with the Global Head of Total Rewards, the CHRO and the Chair of the Human Resources Committee to propose and review executive compensation proposals while considering potential perspectives from proxy advisors and shareholders
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Help facilitate and participate in shareholder outreach.
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Play critical role in drafting the CD&A section of the proxy statement and ensure all required disclosures occur (Say-on-Pay, CEO pay ratio, pay for performance), including documentation for SEC filings and proxy statements
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Ensure transparent communication of compensation plans to executives and stakeholders
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Facilitate Director pay
Qualifications
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10+ years of experience in executive compensation, preferably within the banking or financial services industry.
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Strong knowledge of executive compensation best practices, including regulatory compliance, pay-for-performance, and design.
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Experience managing reward programs for a large, complex organization.
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Proven ability to build relationships and work cross-functionally with senior leadership, Human Resources, Legal, Finance, and external consultants.
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Bachelor’s degree in Human Resources, Business Administration, Finance, or related field; MBA or advanced degree preferred.
Salary Range:
$170,000 - $267,500 Annual
The range quoted above applies to the role in the location specified. If the candidate would ultimately work outside of the location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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