Head of Rewards North America

Head of Rewards North America

*Please note that we are open to this role being located in Princeton, NJ, Hartford, CT or Amelia, OH. We also have a posting for Toronto, Canada.

We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead.

The Head of Rewards will lead the regional implementation of Munich Re's rewards strategy, ensuring competitive, fair, and compliant compensation and benefits programs. Reporting to the Regional Head of HR, the role will be responsible for overseeing salary structures, annual compensation process cycle, executive compensation, benefits administration, and pay governance. This includes regional pension responsibilities, such as the design and oversight of retirement savings plans and compliance with local regulatory requirements.

The Head of Rewards will collaborate closely with HRBPs and Finance to align compensation strategies with business needs and local labour regulations while adhering to global standards. The Head of Rewards will also work closely with the Global Payroll team to ensure seamless coordination between payroll and rewards. The role works closely with the broader Regional HR Leadership team, leads the regional rewards team, and collaborates with the Global Head of Rewards.

Responsibilities:
* Actively contribute to the definition of global rewards strategy and processes, participate in the design of new global rewards solutions
* Implement the global rewards strategy within the region, aligned with business priorities and local requirements
* Oversee salary structures, job grading, and benchmarking, ensuring pay equity and market competitiveness
* Manage the annual compensation process cycle, including annual merit and bonus processes
* Ensure effective management of benefits program, including pensions, health insurance, and international mobility support
* Ensure effective management of benefits programs, including pensions, retirement savings plans (e.g., 401(k), non-qualified deferred compensation, SERP programs), health insurance, and international mobility support
* In regions with additional requirements, such as North America, take ownership of the design, administration, and governance of pension systems-including regulatory compliance and, where applicable, the management of dedicated pension vehicles or insurance structures
* Partner with HRBPs, Finance, and business leaders to align compensation strategies with business goals, including actively presenting proposals and securing approval from relevant stakeholders such as Compensation Committees, Leadership Teams, etc., depending on the topic and country
* Ensure compliance with regional labour laws, tax regulations, and corporate governance policies related to compensation and benefits

Qualifications:
* Minimum of seven years of proven leadership experience in rewards within a global, matrixed organization
* Strong understanding of regional labour laws, tax regulations, and compliance requirements related to compensation
* Expertise in job evaluation, market benchmarking, and total rewards program design
* Experience in effectively managing annual compensation processes across different business realities and/or geographies
* Experience working with HR technology and digital tools related to managing compensation and benefits
* Ability to collaborate across a complex, global environment, working with HR, business leaders, and external partners
* Data-driven mindset, leveraging compensation analytics and reporting to optimize decision-making
* Proven ability to lead teams through complex transformation initiatives, providing direction and stability during periods of change
* Demonstrated leadership in shaping high-performing, future-ready teams by fostering adaptability, engagement, and continuous development
* Excellent communication skills in English

The Company is open to considering candidates in numerous locations, including Princeton, NJ, Amelia, OH and Hartford, CT. The salary range posted below applies to the Company's Princeton location.

The base salary range anticipated for this position is $283,200 - $415,00 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:
* Two options for your health insurance plan (PPO or High Deductible).
* Prescription drug coverage (included in your health insurance plan).
* Vision and dental insurance plans.
* Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
* Short and Long Term Disability coverage.
* Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
* Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:
* A robust 401k plan with up to a 5% employer match
* A retirement savings plan that is 100% company funded.
* Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
* Eligibility to receive a yearly bonus as a Munich Re employee.
* A variety of health and wellness programs provided at no cost.
* Paid time off for eligible family care needs.
* Tuition assistance and educational achievement bonuses.
* A corporate matching gifts program that further enhances your charitable donation.
* Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.