Responsible for supporting the firm's global compensation programs, including leading the annual salary and incentive planning process, managing and forecasting compensation budgets/expense, and enhancing/streamlining compensation related processes and philosophies. Also responsible for interpreting broker agreements and working closely with Payroll to ensure timely and accurate payment of commissions, draws and other compensation payments.
RESPONSIBILITIES
Evaluate, track, and process broker commissions, draws, forgivable loans and other compensation related payments. Partner closely with Payroll team to ensure timely and accurate payment and tracking of such payments.
Partner with Finance teams on compensation expense planning/forecasting, coordinating of monthly and annual bonus accruals, and preparation of year-end bonus and salary increase budgets (including accompanying analytics and historical comparisons)
Partner with Compensation team, HR Business Partners, and Finance to lead the annual compensation planning process (i.e., merit, short and long-term incentive planning, performance management process, senior management review, total reward statement generation and distribution, firmwide communication rollout, etc.)
Document existing processes and workflows, identify continuous improvement opportunities, drive process change and create efficiencies across the function.
Consult with the Head of Compensation, and leadership across HR, Finance and Legal on the development of compensation playbooks (i.e., philosophies, strategies, policies, etc.)
Partner with the HRIS and Technology teams to ensure the HR, compensation and reporting systems meet the needs of the compensation team and other key stakeholders.
QUALIFICATIONS
7+ years of relevant work experience in compensation or related field. Experience with contract or commission-based compensation preferred.
Bachelor's Degree in an analytical field such as Finance, Accounting, Mathematics, Business, or related field. Master's degree is highly desirable.
Ability to work well both independently and in a global team environment.
Strong communication skills (both written and verbal), with ability to take complex concepts and distill them into digestible information for leadership and employees across the firm.
Ability to develop relationships with professionals across several HR, Finance, Technology and business groups, and act as an effective liaison to meet client needs.
Ability to work with Excel on a day-to-day basis, strong preference for individuals to be comfortable doing macros, vlookups, and pivot tables.
Working knowledge of HR Information Systems. Prior experience with Oracle HCM Suite, and specifically Oracle Payroll and Compensation, a plus.
Detail and results oriented, with ability to handle multiple, time-sensitive projects while focusing on the quality of work delivered to clients.
Demonstrated success in managing current processes, challenging the status quo, and championing new initiatives.
Salary: $175000 - $200000 annually
The expected base salary for this position ranges from $175000 to $200000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
Note: The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
