Assistant Vice President, Compensation

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture. Our Human Resource Team is seeking a Assistant Vice President of Compensation. This is a full-time, exempt role. This role is eligible for a fully remote arrangement or Hybrid.

POSITION OVERVIEW

The Head Compensation will be responsible for the strategic design, implementation, and oversight of the organization's broad-based compensation, recognition programs and enterprise job architecture. They will participate in the strategy and design of executive compensation, overseeing the implementation of these programs, including leadership of our enterprise managed service payroll function. This leader will play a critical role in enhancing employee experience, optimizing the impact of compensation programs, championing a culture of pay for performance and pay understanding across the organization.

KEY RESPONSIBILITIES

Strategic Leadership:

Lead the strategy and design of all national broad-based compensation programs and enterprise payroll. Monitor emerging trends and shifts in business direction, proactively assessing and benchmarking programs to enhance competitiveness and relevance, while aligning with strategic and financial goals, supporting employee engagement, attraction and retention of talent.

Data-Driven Insights:

Utilize strong analytical capabilities to evaluate the performance, competitiveness, and cost-effectiveness of compensation programs aligned with Hanover's business strategy and culture. Leverage data-driven insights to deliver impactful business consultation, guide strategic enhancements and ensure alignment with organizational objectives.

Matrixed Partner Management:

Provide oversight for compensation administration, monitoring internal and external partners performance to ensure high-quality service delivery. Own and cultivate strategic relationships with all compensation vendors. Collaborate effectively with internal partners, including Legal, Tax, Finance and HR Services.

Compliance:

Ensure compliance with all federal, state, and local laws and regulations (e.g., FLSA, Pay Equity, Payroll Tax)

Budget and Financial Oversight:

Oversee and manage the budget for most compensation plans, collaborating with the Finance team to establish budgets, monitor the level and impact of spend, and support the quality of monthly close processes and financial reporting.

Compensation Administration:

Provide oversight for compensation administration, monitoring internal and external partners performance to ensure high-quality service delivery.

Thought Leadership:

Provide expertise and thought leadership to departmental and cross-functional initiatives. Participate/lead compensation plan due diligence related to merger and acquisition activities.

Team Leadership and Management:

Directly lead a team of 5 Compensation and Payroll professionals and share leadership accountability for compensation operations within HR Services.

Leadership:

Participate as a member or the HR extended leadership team, contributing to leadership and prioritization of departmental and HR goals and initiatives.

QUALIFICATIONS

Experience:

10+ years of relevant benefits experience, with a proven track record of managing and influencing matrixed teams in a publicly traded company or diversified firm.

Education:

A Masters or Bachelors degree or an equivalent combination of education and directly relevant experience.

Technical Expertise:

Deep knowledge of compensation design and administration, including regulatory, tax, and legislative matters impacting program design and administration. Executive Compensation expertise preferred.

Communication Skills:

Exceptional written and verbal communication skills, with the ability to effectively consult and influence compensation matters with senior leaders, including C-suite executives.

Financial Acumen:

Strong financial and analytical skills for conducting cost-benefit analyses and effectively managing compensation expenses.

Operational Excellence:

Demonstrated ability to translate vision into action, manage multiple priorities, improve operations, and maintain positive relationships while delivering high quality results in a fast-paced, collaborative and complex environment.

Leadership Skills:

Proven coaching, mentoring, and employee development capabilities.

CAREER DEVELOPMENT

It's not just a job, it's a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you - at every level - to grow and develop.

BENEFITS

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you'll enjoy what you do and have the support you need to succeed.

Benefits include:

Medical, dental, vision, life, and disability insurance 401K with a company match Tuition reimbursement PTO Company paid holidays Flexible work arrangements Cultural Awareness Day in support of IDE On-site medical/wellness center (Worcester only) Click here for the full list of Benefits EEO statement: The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law. Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law." As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.

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Compensation:

The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.