We invite you to explore a future with us at PRA Group, a diverse and growing company that has a tangible impact on the global economy.
Position Summary:
The Compensation Consultant is a key player in the design and creation of compensation strategies that align to the overall business strategy. The Compensation Consultant’s primary objective is continually enhancing our compensation programs, managing job architecture and leveling, ensuring market competitiveness, and developing, interpreting, and overseeing compensation initiatives that align with business goals. The consultant will analyze employee and market data and provide compensation-related consultative guidance to HR leadership, HR Business Partners and business leaders.
Job Responsibilities:
- Hybrid in Norfolk, VA location preferred
- Perform deep analysis on market competitiveness and alignment with compensation philosophy and strategy, and model potential impact of alternatives and future programs.
- Partner with HR leadership, HR Business Partners, Talent Acquisition and business leadership to develop and implement compensation strategies that align with our compensation philosophy.
- Develop creative solutions on an array of total compensation issues, and work on a variety of ad-hoc compensation projects, as needed.
- Support compensation program design and implementation, external benchmarking studies, functional promotion review, and development of compensation communications
- Provide guidance on pay decisions (including new hire offers, promotions, adjustments), interpret policies and guidelines, and conduct job evaluations, including developing creative solutions for specific compensation-related programs.
- Analyze and interpret compensation data from external and internal sources to identify trends, gaps, and opportunities, providing well-organized reports and visualizations that drive strategic discussions.
- Create and deliver concise summaries, models, and presentations for all employee levels, including senior executives, structuring data in a clear and digestible format for leadership review and decision-making.
- Lead the design and development of new compensation structures and programs while also maintaining and updating existing pay programs.
- Utilize analytics to provide insights into compensation trends and to recommend adjustments based on market conditions and internal equity.
- Advising senior management and HR leaders on compensation-related decisions and working cross-functionally to align compensation with broader organizational objectives.
- Serve as a trusted advisor to HR and business leaders in establishing a strategic direction for compensation programs
- Develops, analyzes, and updates variable compensation/incentive plans that help drive business objectives and retain employees.
- Support annual salary reviews, bonus plans, and pay equity analysis.
- Evaluates and prices job using market data to provide recommendations that meet business needs and internal equity. Particular focus on difficult-to-match positions.
Job Requirements:
- Bachelor’s Degree, preferably in Finance, Accounting, Human Resources or Math or equivalent combination of education and experience.
- 8 + years of compensation experience, in both broad-based and incentive compensation
- Experience with human capital management systems, preferably Workday
- Advanced proficiency in Excel and intermediate Microsoft Word and PowerPoint skills.
- Strong interpersonal, problem solving, communication, and presentation skills.
- Strong analytical and quantitative skills with the ability to plan, deliver, and audit work.
- Demonstrated ability of driving successful large end-to-end compensation projects, including planning, communication, administration, and evaluation.
- Ability to work independently and interact with all levels of management in a professional and positive manner.
- Experience creating and operationalizing variable pay plans and programs.
- Demonstrated ability to interpret and analyze data to tell a story.
- Demonstrated ability to develop communications and training materials and present data-driven insights to all levels of the organization.
- Ability to successfully manage multiple, high priority tasks and adjust to shifting priorities.
- Excellent organizational and follow up skills with a strong attention to detail.
- Superior consultation skills and the ability to seek out information and provide quality advice.
- Ability to identify process improvements and take initiative to develop, implement and document new/improved processes.
- Understand and ensure compliance with regulatory requirements of compensation such as FLSA.
Salary Range:
$98,000.00 - $152,000.00
PRA Group has an effective process for assessing market data and establishing ranges to ensure we remain competitive. Actual compensation is influenced by a wide array of factors including but not limited to skill set, level of experience, specific working location and market position. This posted salary range is a good faith and reasonable estimate, and PRA Group reserves the right to adjust this range depending on the qualifications and location of the selected candidate. In addition to base salary, PRA may offer additional benefits to include performance based bonus programs and/or equity programs depending on the position. PRA offers paid time off, medical, dental, vision, 401k match, life insurance, and other benefits to assist with the physical and mental wellbeing of our employees.
All qualified applicants will receive consideration for employment regardless of age, race, color, sex, gender, religion, national origin, physical or mental disability, citizenship, or any other classes recognized by state or local law or any other characteristic protected under applicable federal, state or local law. We are a drug free workplace.