Compensation & Retirement – COE Solution Specialist

Compensation & Retirement – COE Solution Specialist

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The Compensation & Retirement – COE Solution Specialist is a pivotal role to ensure the total rewards programs are competitive, compliant, and aligned with organizational goals. This role will develop and manage the base compensation plan, the non‑qualified deferred compensation plan, and is responsible for the development and compliance of the 401(k) and profit‑sharing plans. The role acts as a fiduciary to ensure the plan(s) are in the best interest of participants and meet employee needs.

The role will provide deep subject‑matter expertise in compensation best practices, benchmarking, deferred compensation and retirement plans.

• Establish and update compensation and benefits strategies and programs, including salary structures, that evaluate the market competitiveness of compensation by comparing the average company salary to the industry average.
• Conduct ongoing market analysis and benchmarking to ensure pay practices are competitive and research new compensation trends including regular audits on job responsibilities, FLSA classification, job leveling oversight. Measure fairness in compensation across different demographic groups, such as gender and ethnicity.
• Ensure all compensation and benefits programs comply with federal, state, and local laws and regulations. Implement technology that provides real‑time pay analysis and automatically flags potential compliance issues.
• Leverage compensation data and analytics to inform a proactive retention strategy, identifying and mitigating flight risks for top performers. Implement AI for predictive compensation analytics to predict future talent compensation needs, flight risks, and market fluctuations. Partner with People Practices Leaders to monitor turnover/attrition, retention, offer acceptance rates, and internal mobility rates.
• Develop an executive‑level dashboard that provides real‑time insights into base salary, salary range and changes, full‑time employee activity within a workgroup, changes in the market, changes in compensation costs, employee feedback and inform leaders of changes in local markets.
• Lead a compensation think tank across the construction market/companies that explore future‑of‑work compensation trends, such as travelers/mobility impact on pay, flexible compensation, and emerging technologies, to understand innovative trends that are forming and position DPR as an industry innovator.
• Fulfill the legal and fiduciary duties in managing the 401(k) plan and oversee risk management strategies related to financial operations.
• Ensure the 401(k) plan complies with all relevant laws and regulations, and that operations like contribution processing and distributions are handled correctly.
• Establish a benchmark to measure effectiveness and regularly review third‑party administrators (TPAs), investment advisors, and other vendors to ensure they provide high‑quality, cost‑effective services.
• Develop and implement ongoing campaigns and events that keep the compensation plan front‑of‑mind and give employees convenient opportunities to review and adjust their strategy.
• Conduct and review annual testing, such as non‑discrimination and top‑heavy tests, to maintain compliance providing an approach on balance with deferrals in a qualified plan vs non‑qualified plan (NQDC).
• Research, recommend and develop an overall financial literacy program and leverage innovative technology and data analytics to offer personalized guidance and investment advice for employees to make informed decisions and improve retirement readiness.
• Improve 401(k) plan design, offer solutions to improve 401(k) performance and stay current on legislative changes and remain up to date on compliance requirements related to reporting, disclosures, and eligibility rules.
• Design and lead development of NQDC plan(s) that are flexible and tailored to meet the specific needs, risk tolerances, and goals of targeted group(s), offering benefits beyond standard 401(k) plans.
• Apply understanding of the tax rules for…