Head of Total Rewards & Human Resources Operations

POSITION: Head of Total Rewards & Human Resources Operations

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity.In collaboration with the CHRO and senior management, this role is responsible for developing, implementing, and delivering the company's compensation and benefits strategies in alignment with organizational goals and objectives.

On an ongoing basis, this position evaluates the effectiveness, competitiveness, and overall quality of all compensation and benefits programs, providing insight and recommendations to ensure they continue to support employee engagement, retention, and market alignment.

Success in this role requires building and maintaining strong relationships across the organization and externally-including employees, peer institutions, industry consultants, and vendors-to stay informed of emerging trends and best practices.

In addition, this position provides leadership and oversight for Payroll and HR Operations, ensuring accuracy, compliance, and operational excellence across all related processes.

Key Result Areas:

• Responsible for the design, implementation and administration of incentive programs. Recommend and implement changes as appropriate to plans and policies to support competitive market practice and business strategy. Oversee the Bank's annual Incentive process. Configure HR systems to accommodate plan changes and ensure compliance of plan documents.
• Manage base salary program including job analysis, job evaluation, pay structure, and annual and ad hoc salary increases to ensure compensation is determined equitably and consistently. Monitor market conditions and trends and government regulations to ensure pay rates and compensation programs are competitive and make recommendations as appropriate.
• Develop agenda and materials for the Compensation Committee of the Board of Directors. Contribute to Compensation Committee discussions along with CHRO. Provide reports, updates and make presentations, as appropriate, to communicate various compensation initiatives to HR, management and the Compensation Committee of the Board.
• Oversee the management and quality of the Benefit programs including retirement plans, health benefits, insurances (life, disability, etc.) and voluntary benefits. Lead annual benefits renewal process and recommend go-forward approaches taking into consideration feedback from management, market research and cost analysis.
• Develop a relevant and well-utilized Wellness Program that addresses the health needs of the employee population, in conjunction with the wellness committee, to create integrated programming designed to improve awareness of health issues as well as create opportunities for employees to engage in healthy activities and improve overall well-being.
• With the support of the Senior Benefits Consultant and Benefits & Leave Specialist, manage the daily administration of all benefit plans, reconcile issues and audit the benefit system for accuracy.
• Oversee the day-to-day management of Payroll including processing, required Federal and State reporting, and year-end activity.
• Collaborate with the HR team to drive the innovation and optimization of HR Operations to deliver HR systems and automation strategies that increase the value to employees and reduce the need for redundant processes. Prioritize the modification and/or creation of HR processes, policies, and workflows that are streamlined and maintain compliance with Federal and State laws and internal guidelines. Ensure HR Operations are well-established, known and documented, including maintaining procedures for important processes.
• Consistently improve communication, education and transparency on all Total Rewards programs. Communicate the value proposition of investments made in total rewards and HR processes to improve engagement and retention. Proactively identify opportunities in all Rewards programs to leverage and improve upon technology and offer digital solutions.
• Lead all internal and external audit engagements, including HR/Payroll audits, 401(k) audits, and quarterly FDICIA audits, driving end-to-end coordination, documentation, and issue resolution while partnering with HR stakeholders to ensure timely, accurate submission of all audit requests.
• Partner with Legal to review, revise, and ensure ongoing compliance of all HR policies; maintain full ownership of the Employee Handbook, including annual updates, stakeholder alignment, and communication of changes to employees and leaders.
• Perform additional duties as required

Qualifications:

• College degree required
• Minimum 10 years' progressive human resources experience with at least 5 in designing and managing compensation, and benefits programs.
• Excellent strategic, analytic and financial skills. Ability to demonstrate both the art and science of compensation.
• Minimum 5 years' management/supervisory experience.
• Strong communication and interpersonal skills.
• High level of proficiency in MS Office, specifically Excel, is required.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $160,000 - $210,000

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $160,000 - $210,000. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

Visa Sponsorship: Cambridge Savings Bank is unable to sponsor or take over sponsorship of an employment visa for this role at this time.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.