Thorek/Scott and Partners Looking for Director Compensation at Toronto, Ontario, Canada Full Time

Thorek/Scott and Partners (TSP) has been connecting accomplished organizations with talented individuals for almost four decades. At TSP, our track record of successfully completing challenging searches across the professional spectrum has earned us an exceptional reputation at the forefront of the recruitment industry. Our Canadian and International clients include: global banks and non-bank financial institutions, private equity and investment funds, professional service firms, and entrepreneurial businesses in a variety of industries. We value the human connection and distinguish ourselves through an unwavering dedication to understanding the goals and motivations of our clients and candidates alike.

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About the Client:

Our client is one of Canada’s leading diversified wealth and asset management companies with approximately $271 billion in total assets under managements. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals.

Under their unique business model based on leading brands and multi-channel distribution strategy, our client is a holistic asset-management partner for thousands of Canadian financial advisors and the investors they support.

Our client has been recognized as one of Canada’s Top Employers by Mediacorp Canada Inc. for empowering our employees with the tools to thrive while working remotely, while also providing resources to ensure physical and mental wellness were put front and centre.

Position Overview:

As the Director Compensation, you will play a pivotal role in developing and implementing a comprehensive sales compensation strategy to drive the sales force’s motivation, performance, and overall success. You will be responsible for overseeing the design, execution, and continuous improvement of the sales compensation plans, ensuring alignment with the company’s business objectives and sales targets.

Reporting to the VP, Compensation, in this key leadership position, you will collaborate closely with the leadership, finance, and human resources teams to analyze sales data, evaluate market trends, and identify opportunities for optimizing the compensation structure. Your expertise will guide you in establishing competitive and equitable commission plans that incentivize the sales team to achieve their individual and team goals.

Your strategic thinking and analytical skills will be essential in regularly assessing the effectiveness of existing compensation plans, providing insights to top management, and recommending adjustments to enhance sales performance and drive revenue growth. Additionally, you will have the responsibility to communicate these changes effectively to the sales force, ensuring transparency and understanding of the compensation plan modifications.

As Director Compensation, you will lead a team of three managers, fostering a collaborative and performance-driven work environment. Your mentorship and guidance will empower your team to support the sales organization effectively, resolve inquiries, and manage compensation-

related issues.

The ideal candidate for this position should possess a strong background in sales compensation management, demonstrating a track record of success in creating innovative and effective incentive programs. Excellent communication, leadership, and negotiation skills are essential to work with various stakeholders and ensure the sales compensation strategy aligns with the company’s overall objectives.

Role Responsibilities:

• Lead the development and design of IGM’s sales compensation programs supporting the Retail Distribution, Strategic Partnerships, Institutional and Investment Management businesses.
• Work closely with senior leaders and key stakeholders in understanding the strategic priorities and financial impacts of the compensation plans.
• Provide innovative and effective compensation solutions that drive the right behaviours of the sales and investment management team and achieve success in key business metrics.
• Provide SME advice and counsel in managing the compensation plans on an ongoing basis.
• Responsible for the implementation and administration of the sales compensation plans including:
• Lead a team of compensation professionals that manage the execution of the specialized incentive plans.
• Work with key business stakeholders including senior leaders and the sales team in the management of the compensation plans including regular communication, reporting, and analysis.
• Manage the partnership with key stakeholders in the calculation process including members of the Compensation, Finance and Sales Analytics teams to ensure the commissions are managed within a timely, accurate and efficient process.
• Manage the partnership with technology in the continued development and improvement of the Specialized Incentive Plan Tool, which is the system that calculates, reports and forecasts incentives for the Investment Management business line.
• Provide expert advice to HR Business Partners on compensation decisions and impacts related to the Retail Distribution, Strategic Partnerships and Institutional businesses.

Desired Qualifications:

• 7-10 years of progressive/relevant business experience in employee compensation
• A university degree in business administration or related disciplines and Compensation Professional Discipline is preferred.
• Strong analytical and numeric skills with the ability to interpret and communicate data effectively.
• Demonstrated experience with compensation principles and concepts, including knowledge of job evaluation, pay structure, variable pay experience, pay equity legislation, annual merit budgeting, and the use of competitive pay analysis.
• Proactive leader with proven decision-making skills and the ability to manage expectations effectively to successfully achieve multiple, competing priorities.

Please note that at present, legal eligibility to work in Canada is a prerequisite for this role.

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We appreciate your interest in this role.

In sharing your resume, you place your trust in us to treat you with integrity and respect and act in your best interests. All resumes will be held in the strictest of confidence. Those who most closely meet our client’s requirements will be contacted for an interview.

Please pass this opportunity forward. We welcome all referrals should someone in your network benefit from this opportunity.