Director, Compensation

Location
Basking Ridge, NJ
Posted
Oct 04, 2021
Ref
11005BR
Discipline
Administration, Finance
Hotbed
Pharm Country
Required Education
Bachelors Degree
Position Type
Full time

Join a Legacy of Innovation 110 Years and Counting!

Daiichi Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical therapies to improve standards of care and address diversified, unmet medical needs of people globally by leveraging our world-class science and technology. With more than 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 15,000 employees around the world draw upon a rich legacy of innovation and a robust pipeline of promising new medicines to help people. In addition to a strong portfolio of medicines for cardiovascular diseases, under the Group's 2025 Vision to become a "Global Pharma Innovator with Competitive Advantage in Oncology," Daiichi Sankyo is primarily focused on providing novel therapies in oncology, as well as other research areas centered around rare diseases and immune disorders.


 Job Summary:
 
Partners with the Executive Director Total Well-Being to develop and deliver a company-wide total well-being strategy that drives an excellent employee experience that enables our people to bring their very best to serve our patients. 
 
The Director Compensation is responsible for developing and executing compensation philosophy, strategy, and programs that enable the company to attract and retain top talent to contribute to bringing life changing medicines to patients.  The Director Compensation is accountable for building a strong Compensation team that partners effectively within the Total Well-Being team, with HR colleagues and with colleagues throughout Daiichi Sankyo.

Responsibilities:
 
Develops, implements, communicates and interprets corporate compensation philosophy, market strategy, and salary administration practices. Manages, develops, ensures effective governance and evaluates effectiveness of compensation programs and services. Maintains compliance with federal and state regulations. Works closely with Head of Total Well-Being to ensure the Compensation philosophy aligns with the Total Well-Being strategy in order to meet the needs of the People Strategy and business objectives. Contributes to the global compensation strategy and approach.
 
Establishes and maintains a career framework and salary structure including ranges to determine parameters for allowable salary increases. Oversees the job evaluation process, ensuring a consistent methodology. Evaluates and selects salary surveys for participation. Oversees the survey submission process. Oversees maintenance of market pricing online tool. Develops market analysis assumptions for market adjustment template. Oversees market analysis for individual employees or groups. Oversees development of new hire offers. Ensures a compliant and effective governance process for all compensation issues.
 
Responsible for short- and long-term incentive design, eligibility and targets, measures and payout mechanics. Partner with Finance to ensure the successful transition of SAR and RSU plan administration, including online administration vendor management.
 
Oversees Arigato recognition program, including program design and policy, training, communication and vendor management. Partner with Solutions Delivery to ensure a successful transition of program administration.
Oversees the annual recommendation process for base salary and incentive targets for multiple sales forces and Account Management positions, hiring and promotional increase ranges. Analyzes competitive market position of sales total cash compensation and recommends changes accordingly.
 
Utilizes external and internal data to conduct yearly salary budgeting analysis and establish recommendations to adjustments of compensation program guidelines. Analyzes and recommends salary increase budgets, reward matrices and performance modifiers. Partners with Solutions Delivery to oversee the annual compensation review process.
 
Develops and provides leaders and managers with sufficient tools and training to make pay decisions and conduct compensation conversations. Ensures that compensation programs are understood and communicated to all employees. Oversees the development and delivery of training on compensation related topics.
 
Participates in evaluation and enhancement of performance management system and processes to ensure congruence with salary administration. Recommends target reward ranges for performance categories.
 
Responsible, in partnership with Executive Director Total Well-Being, for Executive compensation and perquisites. Conducts market analysis to recommend base salary, short-term and long-term incentive targets, and perquisites for Executive positions.
 
Qualifications: Successful candidates will be able to meet the qualifications below with or without a reasonable accommodation.
 
Education/Experience:

  • Bachelor’s degree preferably in Human Resources, Business Administration, Economics or a related field required
  • Master’s degree preferably in Human Resources preferred
  • 10 or More Years of overall related experience required
  • 4 or More Years of experience in compensation, preferably of an advanced nature required
  • 4 or More Years management experience supervising the work of Compensation Professionals preferred
  • 4 or More Years expert knowledge of job evaluation techniques, incentive design and salary administration policy formulation required
  • 4 or More Years Pharma experience, especially in Oncology therapeutic area preferred

Daiichi Sankyo, Inc. is an equal opportunity/affirmative action employer. Qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.