BNY Mellon Careers

Principal Consultant Comp (Principal – Markets Compensation Consultant)

New York, New York; New York, New York
Human Resources

Job Description

We have an opportunity for a Principal Consultant, Compensation, on our Compensation & Benefits team in New York. As a member of this team, you will work on execution of the compensation strategy for the Markets businesses at BNY Mellon. You will partner alongside the Human Resources Business Partners and respective business leaders to execute on these plans.

In this role, you will execute compensation strategy to achieve business objectives while keeping corporate interests top of mind.  You will work closely with HR Business Partners and Business Managers, providing advice and guidance on all compensation matters with an understanding of their impact on other Rewards and HR programs and policies, external market influence and internal equity.  You may also support organizational change and development in partnership with both the HRBP and respective Businesses to create and apply consistent, transparent, job structures and families.

A key part of your role will be to provide strategic compensation program advice and counsel on highly complex matters relating to job architecture, market analysis and incentive pay. You will review and interpret market research and analysis to provide solutions and recommendations in partnership with the Talent Acquisition team to structure new hire offer packages.

In this role, you will develop the strategy and approach for large scale technical compensation initiatives that are cross functional and global in scale. An example of a recent project would be to design the year-end pay review process improvement recommendations to increase efficiencies, accuracy, and user experience.  You will partner with Finance to prepare incentive forecasts, ensure appropriate funding levels for year-end incentive pools and lead reconciliation efforts following incentive payments, across Investment Services. 

Your role will include providing recommendations to the compensation leadership team on modification of competitive global comp programs, policies, and processes for the Markets businesses, aligned with their strategic priorities and objectives. You will use your knowledge of the competitive landscape and experience to understand and forecast these business implications.

This is an individual contributor role. We are looking for a subject matter expert to provide technical guidance to other team members. 


Minimum Qualifications:

Bachelor’s degree or the equivalent combination of education and experience is required


Preferred Qualifications:

Advanced/graduate degree preferred.

10+ years of total work experience in the area of compensation preferred. 

Large scale, financial services compensation program experience is highly desired

Prior experience implementing & executing on pay programs to support Markets businesses highly desired

Demonstrated knowledge of technical and legal aspects of compensation and HR preferred.

Must have technical mastery of applications such as Excel, Access, HR systems, etc.

Strong relationship skills Ability to juggle multiple key priorities Strong communication and negotiation skills Superior analytical acumen

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark:

Human Resources is invested in helping BNY Mellon achieve business success by building a winning, high-performance culture that stems from great talent, leadership, learning and diversity; and partnering with employees to provide the tools and resources necessary to support successful career growth and help ensure employees' wellbeing.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.

Primary Location: United States-New York-New York
Internal Jobcode: 33528
Job: Human Resources
Organization: HR Compensation & Benefits-HR06282
Requisition Number: 1806240