Manager, Distribution Compensation - Toronto, Canada - The Co-operators

The Co-operators

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Position Overview:

Company:

CGIC

Number of Positions: 1

Language:
Bilingualism in English and French is an asset.

Work Model:
Hybrid

Alternate Title:
n/a

Additional Information:

The work location for this role is flexible to Toronto, Mississauga, Guelph, Burlington.

The Opportunity:

We are a leading Canadian financial services co-operative committed to being a catalyst for a sustainable and resilient society and our team is essential to deliver on this strategy.

That's why we prioritize our people, to ensure we provide a strong culture and development opportunities which enables our team to thrive and to live our purpose.

The best part is that you will work with people that care passionately about you, our clients, and our communities.

The Manager, Distribution Compensation & Incentive Strategy defines and leads the implementation and operation of the Distribution compensation and incentive strategy and programs and conducts continuous reviews to optimize Advisor compensation structures and programs, ensuring alignment to strategic goals.

They will maintain ongoing oversight of the Comp First Line of Defense controls.

This role is focused on overseeing the compensation roadmap and plan, and will work with teams across Sales Performance Management, and Analytics Hub teams to gather data inputs to inform changes to comp plans and new strategies.

This role is responsible for aligning compensation design practices with HR practices and approaches.

This manager oversees a team of Distribution Compensation Consultants, who are SMEs that conduct compensation and incentive modelling and program design to support strategy development and liaise with CompHub team to share business requirements and changes required in system.

How you will create impact:

Defines the compensation & incentive strategy, in alignment with the Advisor multi compensation strategy, for Distribution using market opportunity research, Advisor sales performance reports and analytics, the distribution Transformation Data Model (DTDM) tool, and the Advisor Experience Strategy as inputs into developing a strategy aligned with Advisor needs, preferences, market trends, and Distribution business objectives.
Accountable for presenting compensation strategy to Distribution Management Team (DMT), including VP, Advisor Alliance and CCO.
Accountable for overseeing and coordinating annual compensation reviews for Advisors and all field staff and ensures continued alignment with 10year compensation roadmap.
Assesses the effectiveness of current compensation and incentive programs using sales performance data, Distribution Transformation Data Model (DTDM) insights and market analysis to evaluate whether current programs are driving desired behaviors
Oversees updates made to the compensation plan based on adjusted performance targets, changes to processes (e.g., bonus qualifications), etc.
Translates the compensation & incentive strategy into specific plans and program recommendations. Leads compensation modelling process, utilizing data and insights from Distribution Insights & Analytics team, to develop innovative nonstand compensation programs and assess potential impacts of any proposed compensation changes.
Accountable for ensuring the accuracy and completeness of Distribution compensation and bonus allocation and reporting. Advises Platform Enablement lead of any compensation related changes to make system updates as required. Leads a team of Compensation SMEs who actively consult with Distribution Compensation and Market Conduct team on escalated compensation queries and issues.

How you will succeed:

You build trusting relationships and provide feedback to enable the successful development of your team and colleagues.
You foster innovation and continuous improvement with a focus on client experience.
You facilitate the adoption of change and create a highperformance culture through alignment of your team's work with organizational goals.
You successfully convey messages and demonstrate openness to exploring alternative points of view.

To join our team:

You have a University or college degree in Business, Commerce, Finance or other related field.
You have 57 years of experience in Sales Incentive and/or compensation related roles.
Having or working towards Certified Compensation Profession (CCP) designation is an asset.
You have compensation & incentive strategy development and execution knowledge.
You have experience in insurance and financial services compensation methodologies.
You have experience in compensation data modelling techniques.
You are an experienced people leader.

What you need to know:

You will travel occasionally.
Detail oriented work that requires continuous mental concentration for extended periods of time.
As a leader, strict confidentiality is required with respect to sensitive matters and employees' personal information