EXECUTIVE DIRECTOR, TOTAL REWARDS

Company: Sumitomo Pharma
Location: Oklahoma City
Posted on: October 19, 2024

Job Description:

Sumitomo Pharma Co., Ltd. is a global pharmaceutical company based in Japan with key operations in the U.S. (Sumitomo Pharma America, Inc.), Canada (Sumitomo Pharma Canada, Inc.) and Europe (Sumitomo Pharma Switzerland GmbH) focused on addressing patient needs in oncology, urology, women's health, rare diseases, psychiatry & neurology, and cell & gene therapies.
Find out more about this role by reading the information below, then apply to be considered.
Job OverviewThe Executive Director, Total Rewards is responsible for developing and overseeing the execution of benefits and compensation strategies to ensure that programs align with business objectives and values, are market competitive, and positively impact the organization's ability to attract, reward, and retain top talent. The incumbent will lead a strong, experienced team providing entity-wide support, and will work closely with a broad range of internal and external partners, including business leaders, HR business partners and other HR members, the parent company's HR team, the Board's Compensation Committee, finance, legal, and our external compensation advisor to understand business needs and develop effective solutions. The role will also ensure full compliance with all legal and regulatory requirements.Job Duties and Responsibilities

• Lead the design, implementation and governance of competitive, integrated total reward strategies which attract key talent, reward high performance, are fiscally responsible, and support retention.
• Ensure that the company's philosophy, strategy and practice related to compensation, and benefits are aligned to organizational values, strategy and performance.
• Oversee the provision of a full suite of compensation programs including executive, broad based and incentive compensation programs, as well as job design, to support market-appropriate compensation packages that are competitive and compliant with relevant regulatory provisions.
• Oversee design, cost-benefit analysis, and administration of the benefits programs to ensure the company provides comprehensive, market competitive, easy to use, and cost-effective benefits offerings.
• Oversee the partnership with Willis Towers Watson, our executive compensation advisor.
• Leverage knowledge of market conditions and competitive talent landscape to design tailored strategies for compensation for key talent segments.
• Partner closely with Talent Acquisition and HR Business partners in the development of key frameworks, including - promotion guidelines, career ladders, levelling criteria/frameworks.
• Work closely with the CHRO and our parent company's HR team to prepare materials for the quarterly Compensation Committee meetings.
• Create and manage vendor relationships for total rewards programs, including the negotiation of services, with focus on long-term value and cost.
• Responsible for total rewards policies, guidelines and procedures. Ensure strong governance and compliance with employment labor laws and regulations.
• Work with the compensation team and other members of HR to create communication strategies for total rewards programs to foster employee understanding and appreciation of company total reward packages.
• Cultivate strong service-oriented rapport with leaders and internal partners, based on a high level of collaboration and flexibility of thought in order to understand and achieve total rewards needs that align with business objectives.
• Provide thought leadership and subject matter expertise in the field of total rewards.
• Oversee the preparation of the annual benefits, merit, long-term incentive, and bonus budget and periodic forecasts.
• Drive thought leadership to address current and emerging compensation and benefits trends and challenges.
• Supervise the benefits and compensation team which consists of six employees.
• Provide guidance, feedback, and development for the compensation and benefits team to ensure we are growing our people.Key Core Competencies
• Ability to develop and successfully execute strategies at an organizational level.
• Ability to think strategically and provide total rewards-related advice at an executive level.
• Ability to collaborate effectively and build relationships with key stakeholders.
• Capacity to make strategic decisions that have potential long-term positive impact.
• Impeccable integrity, dependability, and a keen sense of urgency to achieve results.
• Ability to adapt and quickly pivot according to business needs.
• Ability to influence at all levels of the organization is a must.
• Ability to manage, develop, and motivate a diverse team.
• Strong analytical and conceptual capability, problem solving, and business planning skills.
• Excellent written and oral communication skills.Education and ExperienceMBA or Master's in a related field preferred.10+ years of progressive relevant total rewards experience, including design and implementation of total rewards programs.Prior experience working with the Board's Compensation Committee's is required.Prior experience managing compensation and benefits including 401k and deferred non-qualified plans required.Lifesciences/bioscience industry experience required.Pharmaceutical industry experience highly preferred.Knowledge of benefits and compensation governance and compliance required.Strong program or project management experience with large-scale, long-term projects required.Experience collaborating with executive teams and senior management required.The base salary range for this role is $234,700 to $293,400. Base salary is part of our total rewards package which also includes the opportunity for merit-based salary increases, short incentive plan participation, eligibility for our 401(k) plan, medical, dental, vision, life and disability insurances and leaves provided in line with your work state.Sumitomo Pharma America (SMPA) is an Equal Employment Opportunity (EEO) and Affirmative Action employer. Sumitomo Pharma America (SMPA) is committed to a culturally diverse workforce. All qualified applicants will receive consideration for employment without regard to race; color; creed; religion; national origin; age; ancestry, nationality; marital, domestic partnership or civil union status; sex, gender, gender identity or expression; affectional or sexual orientation; disability; veteran or military status or liability for military status; domestic violence victim status; atypical cellular or blood trait; genetic information (including the refusal to submit to genetic testing) or any other characteristic protected by law.
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Keywords: Sumitomo Pharma, Edmond , EXECUTIVE DIRECTOR, TOTAL REWARDS, Executive , Oklahoma City, Oklahoma