Associate Director, Compensation

Mitsubishi Tanabe Pharma

  • Jersey City, NJ
  • Permanent
  • Full-time
  • 1 month ago
Overview:Entrepreneurial Spirit, Rooted in Tradition. Mitsubishi Tanabe Pharma America, Inc. (MTPA) is a U.S. subsidiary of Mitsubishi Tanabe Pharma Corporation (MTPC) in Japan, which touts a storied reputation more than 300 years in the making. Our parent company - one of Japan’s most respected - is a research-driven pharmaceutical company that has tirelessly pursued medical breakthroughs with global reach. MTPC has discovered and produced several first-in-class medicines for serious diseases, including multiple sclerosis (MS), diabetes mellitus (DM), amyotrophic lateral sclerosis (ALS), and is currently developing medicines in Neurology in Parkinson’s (PD), Spinal Cord Injury (SCI), and in high unmet areas in Immunology and Oncology.MTPA is rapidly expanding its operations across all functional areas. MTPA’s commitment to patients and their communities continues with a robust late-stage pipeline of investigational treatments for difficult-to-treat diseases and commercializing products with significant unmet medical needs in North American markets. In the United States, MTPA launched rare disease treatments including RADICAVA® (edaravone) injectables in 2017 and RADICAVA® (edaravone) oral suspension in 2022. The company handles research, clinical development, sales, marketing, medical affairs, supply chain, and business development functions. MTPA is dedicated to improving the treatment environment for those with debilitating diseases, researching on real-world evidence, and creating hope for all facing illness.The Associate Director, Compensation is responsible for the overall management of compensation programs for the organization, including the design, development, and implementation of new and revised compensation programs, policies and procedures. The Associate Director, Compensation, serving as the organization’s compensation expert, will ensure that compensation programs are market-competitive to enhance the organization’s ability to attract and retain top talent. Responsibilities:
  • Proactively evaluates the on-going effectiveness of existing compensation programs, practices and procedures to determine the need for enhancement/improvement opportunities.
  • Recommends and develops salary and incentive plan modifications and/or new plans to support the company strategic initiatives. Ensure that all pay plans deliver awards that reward desired behaviors and objectives in an equitable manner.
  • Participates in and/or leads activities associated with special incentive plans; this includes providing input to plan design, metrics, measurements, pay frequency, and target compensation, as determined by market data.
  • Works with HR Leadership and Compensation team in Japan Head Office to design and administer Total Rewards Compensation programs for the North America-based Executives.
  • Consults on Executive job offers and new assignment compensation packages and ensures alignment of global Executive Compensation philosophies, strategies, and practices.
  • Handles compensation plan implementation, including communication, rollout, and consultation to HR staff and business leaders, as necessary.
  • Works collaboratively with HR team to manage the annual performance review and merit/bonus processes; accountable for developing the timeline, manage and deliver trainings and tools for manager recommendations; performs detailed analysis to ensure equitable and consistent practices across all company businesses.
  • Manages the company’s salary structure, which includes annual updating of the structures, and recommend and implement changes to structure to ensure competitiveness. Selects and participates in market-relevant competitive compensation surveys.
  • Evaluates new jobs using techniques aligned with Japan Head Office Compensation guidance. Aligns jobs to appropriate career levels, salary structures, grades FLSA and EEOC job classifications based on external market and internal equity considerations.
  • Manage the job coding and job title assignment process and job tables in Workforce Now HRIS.
  • Keeps apprised of federal, state and local compensation laws and regulations and ensures all compensation programs and practices comply with applicable labor laws and internal compliance standards. Works with Legal to address any compensation compliance issues.
  • Advises HR team and business leaders on policy, plan document interpretation, new job development, job evaluation as well as matters related to new hires (external/internal) market data, internal equity, and actions to payroll.
  • Work with HR team to optimize alignment between performance management and reward program effectiveness. Contribute to new and creative employee recognition programs.
  • Collaborates with Finance and Accounting to estimate and track total employee direct expense budgets and reporting. Confirms and verifies all salary and incentive program cost estimates and accruals.
  • Responds to Japan Head Office and North America Leadership requests for regular and ad hoc compensation analyses and reports. Deliver analysis results and recommendations.
  • Maintains an awareness of trends and best practices and makes recommendations as appropriate to ensure continuous improvement of the company’s compensation program.
Qualifications:
  • Bachelor’s degree in business management, Finance, Human Resource Management or related field required: Master’s degree is preferred.
  • Certified Compensation Professional (CCP) designation is preferred.
  • Minimum of 10 years of experience in developing and administering compensation programs, including broad based compensation and bonus plans; experience in developing sales or executive incentive programs is a plus.
  • A minimum of (4) years labor market survey experience, including submission of internal salary/bonus information to survey firms and development of salary structures using market output data.
  • Experience with commercially established job evaluation methodologies and processes. Experience with Korn Ferry Hay evaluation methodology preferred.
  • Experience working with and presenting to C-Suite level Executive Management, with appreciation for Executive viewpoints and priorities in delivering technical information and applying it to immediate business initiatives and strategies. Able to maintain awareness and respect for inter-cultural norms and management practices.
  • Prior experience in the pharmaceutical, biotechnology or similar industry is preferred.
  • Proven knowledge of broad-based compensation programs that incorporate a pay-for-performance philosophy.
  • Applied working knowledge of Executive Compensation practices.
  • Demonstrates excellent analytical skills and a detail orientation; demonstrates critical thinking and problem-solving skills.
  • Must possess a high degree of professional integrity. Able to demonstrate the ability to establish and maintain effective relationships and earn the trust of others in maintaining confidences.
  • Demonstrates outstanding communication and relationship building skills; able to effectively communicate with a broad constituency in both written and verbal manners, including formal presentations to Executive Leadership as well as to the general employee population.
  • Demonstrates a high degree of proficiency with Microsoft Excel and proficiency with MS Word and PowerPoint tools.
  • Willingness to travel up to 10%.
Our Value Proposition:Enjoy the fast-moving, entrepreneurial spirit more typically found in a small biotech, complemented by the benefits of a global pharmaceutical/chemical conglomerate. At this time, Mitsubishi Tanabe Pharma America offers our employees unparalleled opportunities for career success coupled with a supportive level of employee benefits.MTP provides a competitive benefits package inclusive of Medical and Dental health benefits, short-term and long-term disability plans, Company Paid and Supplemental Life insurance and additional voluntary benefits such as Critical Illness Insurance, Accident Insurance, Legal Plan, and ID Theft Protection. In addition, we provide a generous PTO policy based on tenure, commencing with 24 PTO days, pro-rated based on hire date.The salary range for this position is $180,000 - $230,000. Factors such as scope and responsibilities of the position, candidate's work experience, education/training, job-related skills, internal peer equity, as well as market and business considerations may influence base pay offered. This salary may be subject to a geographic adjustment (according to a specific city and state and depending on the role), if an authorization is granted to work outside of the location listed in this posting.This position is eligible to participate in our annual Short-Term Incentive (STI) program. Specific information about the plan including eligibility rules and target, will be furnished upon hire.This position is eligible to participate in our Long-Term Incentive (LTI) program. Specific information about the plan including eligibility rules and target, will be furnished upon hire.

Mitsubishi Tanabe Pharma