Senior Compensation Specialist

Company Description

Forbright is a nationwide full-service bank and commercial lender focused on helping to build a brighter futurefor our clients and the communities we serve. Forbright is committed to exceptional client service by providing seamless, innovative personal banking services to depositors and creative financing solutions to visionary middle market businesses and investors in healthcare, technology, financial services, real estate, and other industries.

We are a dynamic, high energy, fun, and fast-paced organization that has an exciting growth trajectory, meaningful mission, and embedded responsible practices into our daily interactions. We offer our team members a culture of collaboration, inclusion, flexibility, recognition, and giving back. We look to hire individuals that are passionate about our mission, and who are motivated, customer and results-oriented, innovative, adaptable, and thoughtful.

We are a mission-driven institution. We operate a sound dynamic institution that is well capitalized, liquid, profitable and uses best practices to manage risk and assure compliance with laws and regulations. We use Forbright’s capital, capabilities, innovation, and expertise to help our clients succeed and contribute broadly to building a brighter future.

The Senior Compensation Specialist is responsible for managing Forbright Bank’s employee compensation program. This position is responsible for the day-to-day administration of our pay plans, including ensuring accuracy, compliance, and excellent employee experience. This role partners closely with other teams at the Bank to manage all aspects of operations and support a fast-paced, growing organization.

The pay range for this position is below. The specific rate will depend on the successful candidate’s qualifications and prior experience: $115,000 (entry level qualifications) to $150,000 (highly experienced).

• Equity Administration
• Partner with vendor to manage the full lifecycle of equity compensation plans, including the preparation, review, and execution of grant agreements, exercise documents, and award modifications
• Oversee and ensure accurate and timely data entry and track vesting milestones, grant approvals, and reporting deadlines related to equity awards within our equity management platform
• Oversee the preparation and reconciliation of monthly and quarterly equity reports, including share activity, expense accruals, and outstanding balances
• Generate regular reports on stock plan activity, grants, exercises, vesting, and forfeitures for finance and legal teams
• Work closely with finance, legal, tax, and payroll to ensure timely and compliant processing of equity transactions, including tax withholding and reporting
• Assist in maintaining accurate records of equity authorizations, share pools, and plan usage for internal and board reporting
• Assist with the valuation process for stock options
• Ensure compliance with tax, legal, and securities regulations across all jurisdictions where equity is granted
• Support process improvements, automation, and system enhancements to improve efficiency and accuracy of equity administration
• Contribute to the design and delivery of employee equity education programs and communication materials
• Monitor industry trends and recommend improvements to the company’s stock plan offerings
• Partner closely with Accounting to assist with tasks/projects
• Compensation Administration
• Manage the company’s base pay structures and variable pay programs in accordance with the plans, and ensure governance
• Conduct market compensation and benefits benchmarking, including participating in company market data surveys and analyzing external data, to ensure competitiveness
• Generate reports and analyze surveys and data to ensure internal pay equity
• Provide guidance with the different state laws as it pertains to wage notices and payout, notice of hires, PTO pay out, required sick leave, etc.
• Participate in administration of the year-end compensation cycle and off cycle changes
• Partner with FP&A to determine budget pools, accruals, and fully loaded employee and department…