Purpose of Role
The Senior Director of Executive Compensation will be fully responsible for Lowes’ global executive compensation strategy, plans, programs, and activities. This will include leading the planning, design, implementation, communication, and delivery of company-wide executive compensation programs including executive base compensation and all short and long-term incentive-based plans and programs. This leader will ensure that Lowes’ executive compensation programs are world-class, forward-thinking, and competitive and support Lowes’ business strategy by enhancing organizational capability and driving company performance, culture, and employee engagement by working closely with the Chief Human Resources Officer, Chief Financial Officer, and Chief Legal Officer to develop and lead all executive compensation programs, as well as preparing materials for Compensation Committee, Board approvals, and the Company’s annual Proxy filing.
Responsibility Statements
- Work across Lowes to develop an understanding of company operations, business priorities, culture, and values to represent and influence executive compensation requirements.
- Build credible and trusting relationships with all executives across the company and provide exceptional advice and counsel to these internal clients and other key stakeholders.
- Analyzes current executive rewards programs to ensure they align with Lowes’ business strategy and ensure executive reward programs optimize the ability to attract and retain top executive-level talent.
- Provides strategic and operational leadership in the design, development, implementation, administration, and communication of Lowes’ executive compensation programs, including base pay, incentives, and other executive rewards and perquisites, in alignment with Lowe’s executive compensation philosophy.
- Develop and prepare materials for the Board of Directors and Compensation Committee.
- Prepare CD&A and Executive Compensation Tables for the company’s annual proxy statement and other related disclosures.
- Examine peer proxy disclosures, industry surveys, and reports to track and analyze proxy peer, broader retail, and S&P 500 company compensation practices and trends.
- Manage annual executive compensation, tax, SEC, and accounting laws and trends to ensure internal program compliance.
- Support all internal and regulatory reporting requirements for executives.
- Oversee the competitive benchmarking, design, and administration of executive compensation programs, including base pay, variable pay, merit, compensation planning, job structures, and market analysis focusing on executive market competitiveness.
- Work directly with senior management, the Compensation Committee of the Board, and compensation consultants to evaluate, recommend, design, and implement Lowes’ executive compensation policies and programs.
- Help build an effective communications strategy focused on executive compensation policies and programs, considering the perspectives of all stakeholders.
- Maintain strong external relationships, including compensation and benefits organizations. This leader will be a master and thought leader in the executive compensation function and will keep abreast of new trends to maintain attracting top talent in the competitive marketplace.
- Maintain strong internal relationships with key partners in HR, legal, finance, accounting, tax, etc.
Professional Qualifications/Experience
- 15+ years of sophisticated and innovative executive compensation experience within a publicly traded company of a reasonably large scale.
- Demonstrated track record of success in developing and implementing effective executive compensation programs. Require strong technical, managerial, collaborative, and teambuilding skills with the ability to balance tactical and strategic responsibilities.
- Strategic Vision for Executive Compensation - a track record of successfully implementing creative total rewards programs for executive and officer levels of an organization with effective delivery systems, ideally for a large complex organization.
- Strong Financial and Technical Skills – including all executive compensation design and administration facets. Proven success in working with and using analytics to communicate trends and benchmark analysis.
- Deep experience in developing and preparing Board of Director and Compensation Committee materials. Expert level experience in preparing CD&A and Executive Compensation Tables for the company’s annual proxy statement and other related disclosures.
- Experience working in a Workday and E*Trade environment is strongly preferred.
- Industry Knowledge – ideally, have skills and experience in relevant scale retail executive compensation best practices.
- Knowledge of Current Laws/Regulations – to ensure compliance with relevant current and future laws and regulations, deliver accurate and timely reporting, and advise on any laws that will impact the business.
- Must have experience working closely with a Board of Directors and Executive Committee – history and track record of working closely with and supporting the needs of Executive Leadership, Compensation Committee, and Board of Directors, including familiarity with the Charter, Calendar, and requirements of such entities.
- Business Acumen – an understanding of business strategies, competitive challenges, and the financial impact of HR and compensation decisions. Strategic thinking and decision-making skills, strong analytical and problem-solving skills, and a customer-focused mindset are essential. Able to prepare and monitor budgets, costs, income, and other practical accounting situations.
- Executive Leadership Presence and Strong Communications Skills – including the capability, energy, experience, business acumen, and outlook to play a compensation leadership and business partner role in the leadership team. Must have a track record of effectively consulting and presenting information to employees, executive management, customers, clients, public groups, and the Board of Directors.
- Relationship Building Skills – with demonstrated success in building relationships across functions, geographies, and at levels with emphasis on executive leadership.
- Results Orientation – with a strong drive to improve business results, an ability to make decisions, and a desire to execute flawlessly. Ability to define problems, collect data, establish facts, and draw valid conclusions with practical solutions. High energy and a willingness to “roll up his/her sleeves” are critical.
- Strong People Management experience, and successful track record of building/managing high-performing teams.
- Bachelor’s degree in a related field is required.
- Advanced degree in Business Administration, Finance, Law, or a related field preferred.
- Certified Executive Compensation Professional and/or Certified Equity Professional designation preferred.
