The Director - Compensation & Benefits is responsible for managing the design, development, implementation, communication, administration and evaluation of the Piedmont Natural Gas’s total rewards programs that provide for competitiveness in the marketplace and alignment with the Company’s business strategies.
HR Business Consultant – Compensation
HR Business Consultant – Financial Analysis & Reporting
HR Business Consultant – Benefits
Nature and Scope:
This role serves as an internal consultant to management related to all compensation issues. The incumbent is responsible for a compensation program that is consistent with the Hay Guide chart system methodology. This would include the appropriate update, review and evaluation of positions, and developing appropriate formulas on which pay scales are determined. This position designs and implements various variable compensation programs (MVP, STIP), develops the budget for the annual merit increase program, and integrates these programs together in order to deliver a consistent message to all employees relative to the business strategy.
This position is accountable for the design and administration all executive compensation plans. This includes cash incentive plans as well as the Long Term Incentive Plan for officers and directors and any other equity plans approved by the Compensation Committee of the Board of Directors. This position is also responsible for ensuring cash and equity plans are in compliance with the shareholder-approved Incentive Compensation Plan (ICP).
This role is responsible for new plan design, educating employees, audits, compliance issues, financing of plans and distributions. Plans offered at Piedmont include: a defined benefit pension plan, 401(K) plan with ESOP component, a money purchase pension plan, various health and welfare plans including group medical, dental, vision, life, AD and D, business travel accident insurance, executive life, and disability plans, as well as flexible spending accounts, employee stock purchase plan, employee assistance program, defined contribution restoration plan (executive non-qualified plan), and voluntary deferred compensation plan (executive non-qualified plan). The role is responsible for administering these plans for active, retired and disabled employees, as well as surviving spouses and members of the Board, as appropriate. The position is also responsible for the overall accuracy and integrity of all enrollment, benefit distribution, claim processing, funding and oversight of trusts, investments of pension and 401(k) plans, record-keeping and other activities that are required to support the ongoing administration of each benefit plan.
This role serves as liaison to the Benefits Committee and Compensation Committee of the Board of Directors. This responsibility includes preparation and presentation of materials and actions at Committee meetings, coordination and review of Committee materials from vendors and consultants, as well as ongoing communications and updates for the Committees, This position also serves as the Chair of the internal Benefit Plan Committee and presents materials and action items to the Committee, coordinates and reviews materials from vendors and consultants for Committee meetings and keeps the internal Committee abreast of all issues. This position serves as the legal Plan Administrator of the benefit plans from an ERISA perspective and along, with the other internal committee members, serves as the named fiduciary for the plans.
Develops, implements, and administers compensation programs that provide for the attraction, motivation, and retention of quality employees for the organization. Directs the preparation of job descriptions and market analyses to determine appropriate pay ranges and compensation levels. Designs, implements and evaluates PNG’s all-employee variable compensation program (MVP). Reviews and approves salary increases within established company policies. Administers the executive annual incentive and long-term incentive plans in accordance with directives of Board of Directors. Consults with executive management and Compensation Committee of the Board on all matters related to executive pay.
Provides for the smooth integration of transitioning employees from any merger or acquisition into Piedmont’s compensation structure and benefit programs.
Ensures that the design of each benefit plan, and the benefits package in total, is compatible with the overall needs and objectives of the Company and its employees.
Ensures that all benefit plans are adequately funded, and that the administration of each plan is equitable and consistent with the plan provisions.
Responsible for the administration of the investments in the defined benefit pension, money purchase pension and 401(k) plans, as well as the VEBAs. Serves as liaison between the Benefit Plan Committee/Benefits Committee and investment consultants.
Responsible for the benefits and incentive budget; oversees budgeting process and monitors status of budget throughout the year.
Oversees vendor, consulting and fund manager relationships and ensures they are providing acceptable service and adding value to the benefits and compensation programs.
Provides insight and interpretation of the compensation/benefits policy within union contracts. Advises management concerning compensation issues.
Ensures that the tax status of each plan is maintained by strict compliance with all federal regulations and reporting requirements.
Communicates total reward program (benefit plans, compensation, incentive plans, R&R program, etc.) to employees to realize the greatest possible impact of the Company’s related expenditures.
Supervises the preparation of responses to salary surveys in an effort to maintain current market compensation data.
Supervises the preparation of benefits and compensation data and information used for financial reporting purposes. This includes working with internal and external legal counsels as well as financial consultants on rate case filings, SEC filings, CD&A and proxy tables.
Analyzes company compensation policies in relation to government wage and hour regulations, prevailing rates for similar jobs in comparable industries/ geographic areas, agreements with labor unions, and recommends appropriate changes.
Collaborates with Managing Director – HR and Wellness Coordinator on wellness strategy and ensures coordination with overall health care strategy.
Participates in all labor negotiation agreements to represent the Company and help negotiate benefits and wages on its behalf.
Serves as secretary for the Benefits Committee and the Compensation Committee of the Board of Directors; serves as Chair of the internal Benefit Plan Committee.
Prepares and distributes materials for each Committee meeting in coordination with external consultants and internal/external legal counsels. Makes presentations at the Committee meetings, requests action from the Committees and responds to questions from the Executive Management Team and Board members.
Serves as primary contact for Executive Management Team, Benefits Committee of the Board, and Compensation Committee of the Board on all issues related to benefits and compensation/executive compensation. Works closely with CEO, SVP – Chief Administrative Officer and SVP – Chief Financial Officer on these programs.
Responsible for the administration of the relocation program. Provides direction to the HR Business Consultant - Compensation to ensure that Piedmont’s relocation program complies with IRS regulations, offers competitive benefits to new hires and transferees, and maintains cost effectiveness. Oversees relationship with external relocation advisor and ensures that the advisor is providing a high level of service and added value.
Supervises and develops the Compensation and Benefits staff, facilitating professional opportunities to improve individual capability and managing performance against job accountabilities, department goals and established department policies and procedures.
Performs other duties as assigned.
Knowledge, Skills & Abilities:
- Bachelor’s degree
- 7+ years’ experience in design and administration of compensation plans
- 7+ years’ experience in design and administration of benefit plans
- Previous experience working with or managing executive compensation
- Must have previous leadership and management experience within the Human Resources profession
- Excellent analytical skills, sound judgment and critical thinking
- Strong written, verbal, and interpersonal communications skills; must be able to communicate benefit and compensation programs effectively, in writing and verbally, to employees, senior management and Board of Directors
- Excellent relationship building skills
- Experience and proficiency using Windows based software including Office suite (Word, Excel, Power Point, etc.)
- Effective leadership skills resulting in the promotion of positive cultural changes in accordance with PNG shared values
- 5 years of experience managing functions and/or people
- Self-motivation and good time management skills
- Good mathematical aptitude
- Self-motivated and self-empowered team player who has the ability to motivate others
- Ability to drive results and positively influence others
- Certified Compensation Professional (CCP) and/or Certified Benefits Professional (CBP), Certified Employee Benefits Specialist (CEBS), Senior Professional Human Resources (SPHR), Professional Human Resources (PHR) certifications
- Previous experience in administration of a relocation program
- Experience serving on a committee and/or board
Shared Values – Embracing and consistently exhibiting the shared values espoused by the organization including integrity, respect, excellence, stewardship, and health.
Compliance - Conducts work and business consistent with the purpose and letter of all external laws, regulations and internal policies that govern our Company.
Communication - Clearly conveying and receiving information and ideas through a variety of media to individuals or groups in a manner that engages the audience, helps them understand and retain the message, and permits response and feedback from the audience; effectively translating complex ideas into simple concepts.
Decision Making – Weighing the relative costs and benefits of a potential action; using good judgment in making decisions; willing to take prudent risks when making decisions.
Building and Managing Relationships – Identifying opportunities and taking action to build strategic relationships between individuals, teams, departments, or organizations to help achieve business goals; keeping and strengthening business and personal relationships by demonstrating compassion, patience, respect, humor and emotional control when working with others.
Strategic Thinking and Planning – Proactively obtaining information and identifying key issues and relationships (with employees, customers and shareholders) relevant to achieving a long-range goal or vision; committing to a course of action to accomplish a long-range goal or vision after developing alternatives based on logical assumptions, facts, available resources, constraints, and organizational values.
Facilitating and Championing Change – Encouraging others to seek opportunities for different and innovative approaches to addressing problems and opportunities; encouraging the implementation and acceptance of change within the workplace; serving as a change agent.
Flexibility - Ability and willingness to learn new material and adapt to new situations; adjusting effectively to work within new work structures, processes, requirements, or cultures.
Initiative – Being driven and guided by one’s own energy, commitments, or willingness to confidently translate ideas into action; takes personal accountability for getting things done and involves others as appropriate.
Teamwork – Creates teamwork by identifying mutual goals, recognizing team strengths, and leveraging individual contributions to the team; works collaboratively towards shared goals.
Technical/Position Specific Knowledge – Comprehensive knowledge and experience in general management and/or expert level ability in highly technical area; strategic importance to the organization and typically represents the organization’s leading expert in a particular area.
Must be able to travel to resource centers as necessary.
Must be able to sit for long periods of time at a personal computer.
At Piedmont, we take seriously the responsibilities associated with adherence to federal, state, and local laws and regulations. Compliance with applicable laws and regulations, as well as all Company policies, is required. As a member of management, the incumbent in this position is also required to provide guidance to other employees regarding compliance with laws, regulations and policies.
The above job description does not encompass the totality of the responsibilities, obligations, competencies, tasks, and duties required of this position, and is intended only to convey the general requirements and accountabilities sought of the employee(s) assigned to this classification and potential applicant(s). Piedmont Natural Gas Company, Inc (“Piedmont”) reserves the right, at any time and in its sole and absolute discretion, to adjust this job description and the information provided herein. This job description is not intended as, and in no way constitutes, an employment contract.
Piedmont Natural Gas - 2 years ago