The Compensation & Retirement – COE Solution Specialist is a pivotal role to ensure the total rewards programs are competitive, compliant, and aligned with organizational goals. This role will develop and manage the base compensation plan, the non-qualified deferred compensation plan, and is responsible for the development and compliance of the 401k and profit-sharing plans. This role acts as a fiduciary ensuring the plan(s) are in the best interest of participants and meets employee needs. This role will provide deep subject matter expertise in compensation best practices, benchmarking, deferred compensation and retirement plans.
Responsibilities:
• Establish and update compensation and benefits strategies and programs, including salary structures, that evaluate the market competitiveness of compensation by comparing the average company salary to the industry average.
• Conduct ongoing market analysis and benchmarking to ensure pay practices are competitive and research new compensation trends including regular audits on job responsibilities, FLSA classification, job leveling oversight. Measure fairness in compensation across different demographic groups, such as gender and ethnicity.
• Ensure all compensation and benefits programs comply with federal, state, and local laws and regulations. Implement technology that provides real-time pay analysis and automatically flags potential compliance issues.
• Leverage compensation data and analytics to inform a proactive retention strategy, identifying and mitigating flight risks for top performers. Implement AI for predictive compensation analytics to predict future talent compensation needs, flight risks, and market fluctuations. Partner with People Practices Leaders to monitor turnover/attrition, retention, offer acceptance rates, and internal mobility rates.
• Develop an executive-level dashboard that provides real-time insights into base salary, salary range and changes, full-time employee activity within a workgroup, changes in the market, changes in compensation costs, employee feedback and inform leaders of changes in local markets.
• Lead a compensation think tank across the construction market/companies that explore future-of-work compensation trends, such as travelers/mobility impact on pay, flexible compensation, and emerging technologies, to understand innovative trends that are forming and position DPR as an industry innovator.
• Fulfill the legal and fiduciary duties in managing the 401(k) plan and oversee risk management strategies related to financial operations.
• Ensure the 401(k) plan complies with all relevant laws and regulations, and that operations like contribution processing and distributions are handled correctly.
• Establish a benchmark to measure effectiveness and regularly review third-party administrators (TPAs), investment advisors, and other vendors to ensure they provide high-quality, effective cost-effective services.
• Develop and implement ongoing campaigns and events that keep the compensation plan front-of-mind and give employees convenient opportunities to review and adjust their strategy.
• Conduct and review annual testing, such as non-discrimination and top-heavy tests, to maintain compliance providing an approach on balance with deferrals in a qualified plan vs non-qualified plan (NQDC).
• Research, recommend and develop an overall financial literacy program and leverage innovative technology and data analytics to offer personalized guidance and investment advice for employees to make informed decisions and improve retirement readiness.
• Improve 401(k) plan design, offer solutions to improve 401(k) performance and stay current on legislative changes and remain up to date on compliance requirements related to reporting, disclosures, and eligibility rules.
• Design and lead development of NQDC plan(s) that are flexible and tailored to meet the specific needs, risk tolerances, and goals of targeted group(s), offering benefits beyond standard 401(k) plans.
• Apply understanding of the tax rules for both qualified 401(k) and nonqualified (NQDC) plans ensuring the company can meet its payment obligations. Apply understanding of different funding vehicles like a "rabbi trust" or corporate-owned life insurance (COLI) to informally fund the NQDC plan and be able to recommend the best vehicle to fund. Ensure NQDC plans comply with Section 409A of the Internal Revenue Code and mitigate the inherent risks of NQDC plans.
• Develop and implement a comprehensive communications channel to provide adequate education to eligible employees providing awareness of additional risks of participating in a NQDC plan.
Requirements:
• Bachelor’s degree in Human Resources, Finance, Business, or related field required.
• 7+ years of progressive experience in compensation and retirement benefits, with subject matter expertise in 401(k) plan management. A background working with both qualified and non-qualified plans is preferred.
• In-depth understanding of compensation structures, job leveling, FLSA determination and market pricing tools (ej.Radford, Mercer).
• In-depth understanding of retirement planning concepts, investment strategies, and relevant laws and regulations, particularly ERISA and tax rules related to non-qualified plans, is critical.
• Strong knowledge of 401(k) plan rules, compliance, and operations.
• Excellent communication and interpersonal skills to interact effectively with employees and providers.
• Knowledge of human resources and benefits administration best practices.
• Industry experience preferred.
• Strong analytical, problem solving and quantitative skills. Proficient in Excel, Statistical modeling, HRIS systems (Workday is preferred), and reporting tools.
Certifications and Licenses:
• CCP (Certified Compensation Professional), CEBS, or similar certification preferred.
Work Environment:
• Inside - inside environmental conditions or standard office environment Constantly, 67% - 100%.
Physical Activity:
• Hearing - receiving detailed information through oral communication and making fine distinctions in sound, such as when making fine adjustments on machined parts. Constantly, 67% - 100%.
• Repetitive Motions - substantial movements (motions) of the wrists, fingers, and/or hands. Frequently, 34% - 66%.
• Sitting - particularly for extended periods of time. Frequently, 34% - 66%.
• Talking - expressing or exchanging ideas by means of the spoken word. Those activities in which detailed or important spoken instructions to other workers must be conveyed accurately, loudly or quickly. Frequently, 34% - 66%.
• Vision - distinguishing characteristics of objects using the eyes. Ability to receive detailed information through visual contact. Constantly, 67% - 100%.
Anticipated starting pay range:
$155,000.00- $215,000.00Nothing is more important than your health and wellness. DPR offers a variety of medical, dental, vision and wellness benefits to keep you healthy. Read more about eligibility and available benefits programs
for skilled craft and labor or experienced professionals and recent graduates.
DPR Construction is a forward-thinking, self-performing general contractor specializing in technically complex and sustainable projects for the advanced technology, life sciences, healthcare, higher education and commercial markets. Founded in 1990, DPR is a great story of entrepreneurial success as a private, employee-owned company that has grown into a multi-billion-dollar family of companies with offices around the world.
Working at DPR, you'll have the chance to try new things, explore unique paths and shape your future. Here, we build opportunity together—by harnessing our talents, enabling curiosity and pursuing our collective ambition to make the best ideas happen. We are proud to be recognized as a great place to work by our talented teammates and leading news organizations like U.S. News and World Report, Forbes, Fast Company and Newsweek.
Explore our open opportunities at www.dpr.com/careers.