Senior Compensation and Equity Consultant

WHO WE ARE                                            

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.  
  

Our Values, Our Passion

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.  

Customer-Focused. Passionate Advocates 

Courage to Act. Do the Right Thing 

One Team. One Vision 

Think Long-Term. Ever-Evolving 

Be Exceptional. Inspire Greatness

POSITION SUMMARY

The role is responsible for providing subject matter expertise in compensation and equity programs that attract, retain, and motivate top talent. The role requires a critical thinker with proven expertise and technical skills in compensation and equity practices within the banking sector.

MAJOR ELEMENTS OF THE ROLE

Key accountabilities of this position include:

• Compensation Consulting: Collaborate with internal partners to develop and implement compensation strategies and programs aligned with organizational goals, industry benchmarks, and regulatory requirements
• Equity Plan Administration: Ensure the timely and accurate interpretation and administration of equity compensation plans, including stock options, and common and preferred share class holdings
• Market Analysis: Conduct regular benchmarking and market analysis to ensure competitiveness of compensation structure, benefits, and equity programs, utilizing external surveys and industry data
• Job Evaluation and Salary Structures: Apply business and role knowledge in evaluating jobs, ensure ongoing competitiveness of salary structures, and conduct ad-hoc market pricing for key roles to ensure internal equity and external competitiveness
• Sales Compensation Plan Administration: Support the annual updating of plan documents, including analysis and back testing of any changes, communication thereof, and ongoing administration in partnership with Sales Leadership
• Annual Compensation Review: Collaborate with HR Partners and Internal Compensation Planning Managers to complete year end review cycle, for Merit increase and Corporate Bonus awards
• Compliance and Governance: Ensure compliance with all applicable regulatory requirements, such as Federal Pay Equity, Canadian banking regulations, tax laws, and accounting standards, related to compensation and equity practices
• Stakeholder Management: Partner with internal HR business partners, Finance, Legal, and other relevant stakeholders to drive alignment and integration of compensation and equity initiatives
• Vendor Management: ensure proactive engagement with vendors on contract renewals, service issues, and ongoing internal compliance with OSFI B10 third party regulatory requirements
• Executive Compensation: Administration of executive compensation programs, including executive bonus plans and long term equity compensation, and ensure completeness and accuracy of any analysis used in Board reporting
• Employee Education and Communication: Develop and deliver training sessions, presentations, and communication materials to educate employees on compensation and equity programs

SKILLS AND EXPERIENCE REQUIRED

Qualifications

• Completed post secondary education in Human Resources, Business Administration, Finance, or a related field or equivalent experience
• Relevant professional certification (e.g., CCP, CECP, CEP) preferred
• Progressive experience in compensation, equity, or total rewards roles within the banking or financial services industry
• Demonstrated knowledge of compensation principles, practices, and trends, with a strong understanding of equity compensation plans and regulations
• Demonstrated expertise in job evaluation methodologies, salary structures, incentive plan design, and market analysis
• Expert knowledge of HR, Compensation and Equity software/tools (e.g., Dayforce, Shareworks)
• Expert knowledge of MS Office Suite (Excel in particular – pivot tables, slicers, and other advanced functions)

Attributes

• Excellent analytical skills, with the ability to interpret complex data and provide actionable insights to inform decision-making, as well as a fundamental predisposition to data integrity and confidence in what is presented
• Ability to absorb and develop a deeply innate understanding of the organization, its programs, and employee data, and have the ability to pinpoint and diagnose issues and misalignments
• Strong project management skills, with the ability to manage multiple priorities and deliver results within tight deadlines
• Excellent communication and presentation skills, with the ability to effectively engage and influence stakeholders within the organization
• Proven track record of maintaining confidentiality, integrity, and professionalism in handling sensitive compensation information

Working Conditions Unique to Job

• Hybrid office environment, 3 days per week in office

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.  
 

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness 

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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