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Executive Compensation Specialist
3 months ago
Reporting to the Senior Manager, Compensation you will provide sound compensation program management in support of WestJet's business priorities. As a collaborative partner to People Relations, senior business leaders, recruiters, and People Services you will be responsible for the maintenance, administration, execution and communication of WestJet’s executive compensation programs and initiatives. You will play an integral role in liaising WestJet’s leadership team with our corporate partners and legal counsel. As the primary owner of senior leader and executive compensation programs, you will be responsible for leading the design and strategy, conducting market analysis and benchmarking, supporting the Executive Committee and Board of Directors, managing incentive plans, and ensuring compliance and governance in all executive compensation matters.
What you will do:
- Be the trusted compensation expert for the GLT (Global Leadership Team) client group and manage the continuously evolving base, variable, and long-term pay and incentive programs
- Collaborate with various internal and external stakeholders to ensure cohesive and integrated compensation strategies
- Develop and implement executive compensation strategies that align with the company's business goals and market trends by preparing financial models, forecasts, costings to establish well-informed compensation recommendations to the executive team and Board of Directors
- Oversee the company's short- and long-term incentive programs, including the distribution of Long-Term Incentive Plan (LTIP) grants and administration of the annual compensation cycle for the Short-Term Incentive Plan (STIP) and merit increases, while ensuring incentive programs align with business objectives and key performance indicators (KPIs)
- Conduct market research and benchmarking to ensure competitive and equitable compensation practices, as well as analyzing compensation survey data to recommend salary adjustments and compensation packages
- Provide monthly reporting updates and summaries of incentive accruals to relevant stakeholders
- Assess and continually improve compensation related processes to ensure consistent interpretation and administration of compensation programs
- Lead projects to develop or redesign compensation programs in support of WestJet's growth plans
- Keep abreast of legislative requirements impacting executive compensation policies, such as Pay Equity for federally regulated employers, and develop action plans to ensure compliance. Ensure that executive compensation programs adhere to all applicable legal and regulatory standards, including tax laws and corporate governance guidelines. Monitor and adapt to changes in laws and regulations to maintain compliant and effective compensation practices
- Establish yourself as a market expert by cultivating and maintaining an external network to stay informed about compensation trends and best practices within the North America and the airline industry, with a particular emphasis on senior leadership and executive compensation
- Establish control over executive agreement templates and ensure feasibility and compliance with existing Total Rewards plans
What you nee d t o have:
- A Bachelor's degree in a related discipline (Human Resources, Finance, Commerce)
- At least five years’ related experience in managing compensation programs for all levels in a large, multi-faceted organization. Experience with both privately held and publicly traded enterprises, along with respective compensation elements pertaining to each, is preferred
- Demonstrated ability to build collaborative working relationships at all levels of the organization
- Demonstrated experience in program administration, communication, and implementation of executive compensation structures
- Experience and understanding of designing various short- and long-term incentive plans including: option plans, share unit plans, for senior leaders and board of directors
- Demonstrated experience in preparing and managing management proxy circulars, ensuring compliance with regulatory requirements
- Excellent analytical and critical thinking skills, with a proven track record in completing complex data analysis and transforming it into actionable insights and strategic recommendations
- Ability to work in a fast paced and time-sensitive environment with great attention to detail
- Well-developed communication skills along with tact and diplomacy to deal with sensitive matters
- Exceptional professional acumen
- Dedicated team player, highly organized, ability to take initiative and be independent
- Advanced knowledge of Microsoft applications such as Excel, Word, PowerPoint
- Hold or working towards a CCP or CECP designation is an asset
The benefits of being a WestJetter:
WestJet provides all WestJetters with a competitive total rewards package. On top of that, we offer:
- A fun and friendly culture with colleagues who work together to win
- Travel privileges for you and your family, effective from your start date
- Savings and Benefit programs that are flexible to meet your specific needs
