Executive Compensation Representative
FirstEnergy at a Glance
We are a forward-thinking electric utility powered by a diverse team of employees committed to making customers’ lives brighter, the environment better and our communities stronger.
FirstEnergy (NYSE: FE) is dedicated to integrity, safety, reliability and operational excellence. Headquartered in Akron, Ohio, FirstEnergy includes one of the nation's largest investor-owned electric systems, more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, and a regulated generating fleet with a total capacity of more than 3,500 megawatts.
About the Opportunity
This is an open position with the FirstEnergy Service Company, a subsidiary of FirstEnergy Corp. [SC00]
The Executive Compensation Representative performs various business-related activities to support the Executive Compensation department. This individual partners with the business units to ensure that programs support their objectives by helping to attract and retain key and critical talent. In addition, the representative designs and provides market-competitive total rewards to attract, motivate, retain, and reward employees whose performance contributions and behaviors help drive the Company's success.
The Executive Compensation team is responsible for designing and providing competitive base pay and incentives to executives aligned with the compensation philosophy. The position is in Human Resources within the Executive Compensation group and reports to the Manager, Executive Compensation & Retirement Programs.
Reporting locations include the Corporate Headquarters in Akron, Ohio; Greensburg, Pennsylvania or Reading, Pennsylvania. The ability to work remotely within the United States may be available based on business need. This option is not available in the states of California, Colorado, Illinois, Kentucky, Massachusetts, Montana, Nebraska, New York, Oregon or Washington at this time.
- Leading the Executive Deferred Compensation Plan (EDCP), including the plan administration, policies, and guidelines for deferrals of base salary, FirstEnergy's Short-Term Incentive Program (STIP), and FirstEnergy's Long-Term Incentive Program (LTIP)
- Overseeing and coordinating EDCP administration with an external vendor
- Leading the EDCP open enrollment process (monthly and annually)
- Preparing monthly EDCP reports including terminated employees, promotions to executive levels, distribution reports, base salary deferrals
- Reviewing and ensuring the EDCP data is uploaded to appropriate systems
- Coordinating with other members on the team to process deferrals annually under the STIP and LTIP
- Compiling data in preparation for retirements (projections and actual retirements), including data requests from external financial providers
- Overseeing and coordinating with Payroll on the Federal Insurance Contributions Act (FICA) taxation for retirees
- Collecting and providing data to the Company’s actuary to conduct the annual valuation of the non-qualified plans
- Reviewing and supporting calls from retirees with questions on the EDCP, beneficiary changes and/or account distribution
- Aiding the development, design, and preparation of materials for the FirstEnergy’s Compensation Committee of the Board of Directors
- Consulting with business unit leaders on executive compensation practices and processes, especially on the EDCP
- Preparing and delivering compensation-related presentations to executives within the company
- Providing project management and analytical support in key executive compensation special projects
- Preparing various ad-hoc reports and statistics for the company's compensation programs and initiatives, which may include performing complex reporting and analysis functions
- Compiling reports and statistics for FirstEnergy's various executive compensation programs and initiatives
- Monitoring and conducting research on executive compensation trends
- Leading the analysis of executive compensation and benefit surveys to ensure competitiveness with the external market
- Serving as a thought leader in the group
- Recommending process improvements as well as recommending and implementing solutions to more complex compensation issues to drive change across the organization
- Bachelor’s degree in Human Resources, Business or related discipline and minimum of 4 - 7 years relevant work experience is required.
- In lieu of Bachelor’s degree (preferred), minimum 7 - 10 years relevant work experience is required. Relevant work experience includes the demonstrated ability to:
- Incorporate in-depth knowledge of local, State, and Federal employment regulations into the working environment, using this information to solve routine and complex problems.
- Conduct investigations to respond appropriately to local, State, and Federal agencies
- Conduct advanced research, analyze data, present findings / recommendations and infer outcomes
- Facilitate alignment of HR practices and initiatives across business units
- Understand the connections between the various areas in HR
- Work with leaders to identify issues / concerns and develop appropriate steps for resolution
- Exercise independent judgment on moderately complex projects and assignments
- SPHR/PHR certification preferred
Able to analyze business needs and generate applicable reports to meet business unit objectives
- Able to appropriately manage conflict and work through difficult situations as needed
- Knowledge of Microsoft Office applications (Word, Excel and PowerPoint)
Working knowledge of the administration of equity award programs under Fidelity is a plus to assist with FirstEnergy's Long-Term Incentive Program administration
- Working knowledge or familiarity of Code Section 409A is a plus
- Willing to travel throughout organization and work extended hours, as required
Benefits, Compensation & Workforce Diversity
At FirstEnergy, employees are key to our success. We depend on their talents to meet the challenges of our changing business environment. We are committed to rewarding individual and team efforts through our total rewards philosophy which includes competitive pay plus incentive compensation, a company-sponsored pension plan, 401(k) savings plan with matching employer contribution, a choice of medical, prescription drug, dental, vision, and life insurance programs, as well as skills development training with tuition reimbursement. Please visit our website at www.firstenergycorp.com to learn more about all of our employee rewards programs. FirstEnergy proudly supports workforce diversity. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, or status as a qualified individual with a disability. No recruiters or agencies without a previously signed contract. Unable to sponsor or transfer H-1B visas at this time.
Safety is a core value for FirstEnergy and is essential to all of our business activities. We ensure employees have the tools, information, and processes to perform their duties in a manner that assures safety for themselves, their co-workers, our customers and the public. Our goals are to provide a safe work environment, to maintain an accident-free, injury-free workplace, and to promote and maintain public safety. To meet these goals, we dedicate ourselves to achieving world-class safety standards.
FirstEnergy Human Resources Team