AVP, Compensation

This position will be responsible for driving PennyMac’s base and incentive compensation functions: leading and growing a team which performs extensive compensation analysis, design, modeling and payment for a variety of quarterly, monthly and annual mortgage incentive plans, along with ownership and administration of PennyMac’s Quarterly Adjustment Processes and annual Base Bonus Equity process.  It requires a deep understanding of financial concepts, familiarity with mortgage mechanics, and comfort with creating, implementing, conducting and teaching quantitative processes.

• Work collaboratively with various stake holders to evaluate current incentive plans and/or design new incentive plans; research and resolve complex issues involving the structure of the incentive plans; perform, evaluate and analyze modeling of incentive plans using a variety of resources; calculate monthly, quarterly and annual incentive payouts; drive continual improvement of the incentive compensation modeling and calculation process
• Analyze and interpret compensation information, conduct research, analyze data, seek clarification and make recommendations
• Lead the salary survey, market analysis and benchmarking processes
• Actively manage a team of Compensation Analysts; interact with broad customer base of upper management levels, and HR and Finance professionals
• Perform other related duties as required and assigned
• Demonstrate behaviors which are aligned with the organization’s desired culture and values

• Mastery of mortgage compensation concepts and practices – plan documents, modeling, calculation, process and lifecycle
• Deep understanding of base and incentive compensation methods and practice, experience in finding creative solutions
• Advanced skill set in Microsoft Excel; proficient in the rest of the MS Office Suite and general computer use
• Project Management skills
• Undergraduate degree in Finance, Business Administration, Math, Human Resources or Real Estate or related field preferred
• Analysis – Synthesizes complex or diverse information; conceptualizes solutions
• Leadership – Ability to provide effective leadership for people, projects, data and change management
• Management – Ability to calmly manage complex and deadline-sensitive projects and conflict in a fast-paced environment
• Communication – Ability to clearly communicate concepts, documentation and calculation of mortgage incentive compensation
• Task Management – Demonstrates ability to advance multiple priority assignments concurrently and within established deadlines
• Teamwork – Competent at working in partnership with team members to deliver expected results
• Planning/Organizing – Prioritizes and plans work activities, uses time efficiently and develops realistic action plans
• Problem Solving – Identifies and resolves problems in a timely manner and gathers and analyzes information skillfully
• Quality Management – Looks for ways to improve and promote quality and demonstrates accuracy and throughness