Principal, Compensation Leader

Location
Seattle, South San Francisco, CA, United States
Posted
Nov 18, 2020
Ref
4925389002
Discipline
Administration, Finance
Hotbed
BioForest
Required Education
Bachelors Degree
Position Type
Full time
JOB PURPOSE

Sana is looking for an exceptionally creative and progressive thinking compensation leader reporting to the Chief People Officer. This position is the key strategic partner to the Chief People Officer, CEO and the Compensation Committee of the Board of Directors, and is part of the functional People leadership team.

You are a talented compensation professional with drive, flair, and the demonstrated ability to think strategically, yet can manage all tactical details of Sana's compensation programs in a hands-on manner. You are also deeply analytical by nature, yet see the big picture and have a track record of coming up with compensation programs that balance employee and shareholder interests. You enjoy the detailed and technical aspects of compensation and data analyses, as well as thinking outside of the box and coming up with new ideas. You thrive in a fast-paced, high growth environment; your oral and written communication skills are highly effective with a wide range of employees and leaders. You see a big part of your job as educating employees about compensation at Sana.

This position is a phenomenal opportunity to provide vision and direction around strategic compensation program delivery. As the stand-alone Compensation professional, at least for one year, we'll need you to have both strategic and hands-on experience, as well as a mix of entrepreneurial and mid-sized, high-growth company experience in the life sciences industry. Our ideal candidate thrives in a very fast-paced, constantly evolving environment.

DUTIES AND RESPONSIBILITIES
  1. Develop, implement, and administer compensation policies and programs.
  2. Manage forecasts and grant approval process with cross-functional teams including Finance, Legal, Stock Administration teams
  3. Executive compensation. Support the Chief People Officer with all compensation committee responsibilities to include maintaining awareness of the latest trends and regulations regarding executive compensation. maintaining the annual compensation calendar, preparing analyses, materials and data exhibits, working with the Legal team to prepare administrative items and finalize meeting minutes and work with the Finance team to analyze monthly equity utilization to budget. Partner with Finance on executive compensation budget, tax and accounting issues.
  4. Consult with HR Business Partners and Talent Acquisition to build competitive offer packages for key strategic executive hires. Review and approve executive offer packages to ensure competitiveness and compliance with governance guidelines; Prepare compensation analyses and reports for the People team, Finance team, and Executives;
  5. Work with the People leadership team and executives to continually assess the effectiveness of our compensation strategy for the company as it scales.
  6. Conduct regular analyses of jobs, base pay salaries and incentives to evaluate internal equity, external competitiveness, and legal compliance of Sana's pay practices. Using market data, update, manage and administer the Sana base pay broad band ranges, bonus targets and equity compensation ranges by level and work with the Finance team to prepare annual cash, bonus and equity budgets.
  7. Develop and maintain market compensation rates for jobs and consultant roles.
  8. Develop compensation education and ensure effective communication/promotion of the company's compensation programs and practices to key stakeholders, employees & candidates;
  9. Manage job matching and data submission processes for compensation surveys; analyze and utilize survey data results;
  10. Create, implement and manage the development, design, administration of candidate talking points for the recruiting team, offer approval processes and reporting, equity grant approval processes;
  11. Maintain documentation, eligibility, tracking within BambooHR HCM system
  12. Create tools and administer the annual compensation review program, including base pay increases, bonus program and equity and promotions, as well as annual bonus payments;
  13. Evaluate new jobs, promotions, and reclassifications and recommend compensation elements for positions, including base and incentive pay, market range, and placement within our global salary band structure;
  14. Research and monitor FLSA and EEOC compliance. Evaluate and administer overall job levels, pay grades and company-wide market ranges;
  15. Research and stay abreast of compensation trends in the biotechnology marketplace and develop recommendations on a regular basis;
  16. Partner with colleagues on cross-functional projects, such as M & A support and stock plan administration, and HRIS systems implementations.

QUALIFICATIONS

Basic Qualifications
  • Bachelors degree with a strong background in compensation, mathematics, finance, statistics or economics;
  • 10+ years of progressive experience in various compensation roles, or commensurate, within the biotechnology industry;
  • Deep modeling experience and knowledge of the technical components of establishing and maintaining cash compensation and equity compensation structures;
  • Experience managing executive compensation, including executive benchmarking, salary increases, short-term incentives, long-term incentives, key metric tracking, stockholder ownership guidelines, executive severance, and other executive policies. Strong planning, project management, organizational and communication skills;
  • Advanced Excel and PowerPoint skills;
  • Demonstrated experience working with high-level individual contributors and managers across multiple functions;
  • Experience creating educational materials to employees about compensation, particularly around equity compensation;
  • Excellent organization, presentation and interpersonal skills required;
  • Strong business acumen - the ability to understand the parts of the business and their interrelationships. This includes skill in understanding the industry, competition, and expected future developments and challenges, the business's competitive strengths and weaknesses;
  • Knowledge of HR operations procedures.

Preferred Qualifications
  • Masters or MBA
  • Knowledge of BambooHR, Access and PowerBI
  • Compensation Professional Certification

WORKING CONDITIONS

Some travel, approximately 10%

PHYSICAL REQUIREMENTS

None

DIRECT REPORTS

None. For the right candidate, eventually manage a small team of compensation professionals