Compensation, Compensation-Executive, Compensation-Sales, Total Rewards
Finance, Economics, Banking
In the spring of 2018 we are moving the HQ from Itasca to 8750 W. Bryn Mawr in Chicago which is a short walk from the Blue Line at Cumberland and the Kennedy. First Midwest Bank is a relationship based financial institution and provides a full range of commercial, equipment financing, retail, wealth management, trust and private banking products and services with 2,300 great employees and over 120 locations in metropolitan Chicago, northwest Indiana, central and western Illinois and eastern Iowa.
First Midwest Bancorp (NASDAQ:FMBI) is one of the largest independent publicly traded bank holding companies headquartered in the Midwest. It also has one of the largest wealth management platforms of an Illinois based bank. First Midwest has approximately $14 billion in assets and $9.5 billion in trust assets under management. We are a growing organization having completed four acquisitions in the last eighteen months that added over $3 billion of assets. This exceptional career opportunity reports to the Head of Total Rewards and will have responsibilities effecting a range of functional areas including compensation, benefits, employee well-being & recognition and interface with our HR business systems team. The role has oversight of key HR projects and initiatives such as Total Rewards, SAP/Success Factors subject matter expert for compensation and benefits programs, liaison with Shared Services and other functional leaders. Another important aspect for the role is to provide summary data analysis, research and market data for management and board level reporting, mergers and acquisitions and to support the strategic plan of Human Resources. Direction and guidance will be provided by the CHRO and priorities directly aligned with business goals, which are reviewed annually.
Develop scope, project and communication plan and lead implementation of Total Compensation Review of company-wide plans.
Directly support build out of Compensation Module (particularly variable compensation) and integration of other Talent modules linked with compensation within full SAP/Success Factors Talent Suite, including Recruitment, Employee Central.
Serve as advisor and consultant to HR Consultants, Managers and Leaders, as required on specific projects. Ensure standards and controls are outlined, documented and understood as new programs are developed and trained.
Organizes and provides structure and discipline for assigned HR projects (i.e., system and program implementations) to include assignment of team members, kick-off meetings, adherence to deadlines, and facilitation of kickoff meetings to begin the project once defined.
Ensures projects are completed on time and budget while meeting all business objectives. Responsible for regular reporting and tracking of project budgets and communication to key stakeholders.
Supplies regular updates of project status to the Chief HR Officer for broader levels of communication within the enterprise.
Accountable for all survey results and post-mortems on project process to develop best-practices and “lessons-learned” for future projects.
Works with third-party project managers to coordinate an effective process for the overall delivery of the end result.
Works with a “process improvement” mind-set and “thinking forward” approach
Compensation expertise gained from at least 5 years of experience particularly with variable compensation (quarterly incentives, commission, annual cash bonus and equity bonus). Capable of spearheading a compensation study of the company, developing compensation guidelines and structure. A CCP is preferred. Skills in benefits, employee relations, and knowledge of call center or shared services operations is required.
Project management expertise gained from at least 5 years of project experience is required. Budgeting experience and PMP certification are preferred.
Some managerial, professional consulting and banking experience preferred.
Strong compensation and data/trend analysis is preferred.
Expert knowledge of Microsoft Excel, Visio, Word and PowerPoint.
Knowledge of Tableau, Business Intelligence or other applications would be a plus.
Great communication skills to work closely with all levels of management including business negotiations and ability to lead change in a fast paced environment is required.
Bachelor degree or equivalent work experience required.
First Midwest Bank continually looks for highly motivated and talented individuals. Our people are critical to the Bank's strategy and success. In return we offer competitive salaries, a bonus plan, outstanding benefits like 401K plus 6% company contribution, generous vacation plan, certification and continuing education support, and opportunities for career growth.