Job Description
Ares is looking for an Associate Compensation Business Partner to join the Human Resources team. The Compensation Business Partner will be responsible for supporting the wider compensation team as well as responsibility for assigned business groups for full-cycle compensation activity. The individual in this role will regularly partner with the Compensation Administration team, HR Business Partners, Finance Business Partners, the Workforce Planning & Analytics team, and Business Leaders to ensure a competitive compensation approach for the business, taking into account market intelligence, the Firm’s broader compensation strategy, and line of business performance/financial results.
The Compensation Business Partner will be involved in helping to structure new employee offers, evaluate candidate buy-outs, assist with structuring compensation for employee transfers and exits and provide general advice and counsel on role pricing and compensation market trends.
The Compensation Business Partner will also play a critical role in the workforce planning and compensation forecasting process as well as the annual compensation planning process, including exposure to carry allocations. Core responsibilities will also include reporting and analytics. This role requires a combination of compensation experience, strong analytical and technical skills, and excellent client management / relationship skills.
REPORTING RELATIONSHIPS
Reports to: Co-Heads, Compensation Business Advisory Group
PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES
Specific responsibilities include, but are not limited to:
oServe as the primary point of contact with assigned client groups to support line of business compensation needs, partnering with other experts within and outside of HR as needed to deliver exceptional customer service
oSupport the wider compensation team with analytics on the annual compensation planning process as well as workforce planning and compensation forecasting process.
oIn consultation with the wider team (Compensation Administration, Talent Management teams, and other Compensation Business Partners), help managers and employees on Ares’ Total Compensation approach and key processes/timelines related to compensation.
oWork with HR Business Partners and managers in assigned client groups to support the annual compensation process
oLeverage understanding of the assigned business groups and the associated talent pools to make informed recommendations on broader comp strategy/approach as well as individual compensation decisions
oMonitor and review individual compensation decisions to ensure that the Firm is driving consistency in how we recognize performance, overall skill set and years of experience; highlight gaps and make recommendations to address any identified issues
oIn consultation with HRBP’s and Recruiters, create and maintain compensation grids and/or ranges (where applicable), modifying as needed based on market intelligence
oSupport pay equity audits and the annual compensation benchmarking process, working closely with the Compensation Administration team
oGather market intel through peer connections, search firms and other relationships to provide enhanced insight where/when needed
oSupport the workforce planning and budgeting/forecasting process for assigned groups and the wider compensation Business Partner team.
oAssist in structuring candidate offers, evaluating/pricing buyouts and helping to educate/facilitate the compensation offer approval process where required
oDevelop, maintain, and share various HR compensation reports and analyses with appropriate stakeholders to drive informative insights to enable leaders to make better decisions
oEnsure compliance with regulatory and other related legal requirements
oComplete other related projects and duties as assigned
QUALIFICATIONS
Education:
oBachelor’s degree, preferably in Business Administration or related field
oCertified Compensation Professional Certification preferred
Experience Required:
o3 to 5 years of analytical or compensation experience, within the financial services industry; experience in asset management a plus
oGlobal Compensation experience preferred
oExperience with Workday and/or Compensation platform(s) preferred
General Requirements:
oStrong technical skills with high proficiency in Excel and PowerPoint; experience with Access or other databases a plus
oAn analytical mind and a passion/interest in bringing new ideas to increase efficiency of existing processes.
oAbility to successfully manage multiple priorities and competing demands.
oAbility to multi-task and prioritize deadlines; result oriented
oStrong communication skills and team orientation; capability of interacting with key stakeholders to direct prioritization of Compensation-related activities.
oStrong team and client service orientation
oHigh accuracy and detail orientation
oExcellent time management skills and ability to collaborate with others
oGood judgment in terms of escalating issues vs. solving problems independently
oA solutions-oriented, self-starter with ability to see the big picture
oDependable, great attitude and a team player
oMotivated by a fast-paced, dynamic environment; comfort in dealing with ambiguity and uncertainty
oStrong work ethic, an entrepreneurial spirit, and a desire to learn
oA demonstrated ability to research and leverage available resources to accomplish the task at hand
oAn analytical mind and a passion/interest in bringing new ideas for consideration
oAbility to handle confidential information appropriately; high integrity
Reporting Relationships
Co-Head of Compensation Business AdvisoryCompensation
The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.
$105,000-$125,000
The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Ac