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Virta Health is a prominent healthcare company dedicated to reshaping patient care and improving outcomes for people suffering from chronic conditions such as obesity and type 2 diabetes. The company has harnessed significant investments, amounting to over $350 million, with partnerships across health plans, employers, and government organizations to facilitate positive health changes for their members. They aim to help patients regain control of their health through individualized nutrition and ongoing clinical support.
Virta is currently seeking a Vice President of Total Rewards to spearhead the development and implementation of their compensation and benefits strategies, which should reflect their high-performance organizational culture and ambitious growth targets. This leadership role is crafted for someone who is strategic yet hands-on and has a proven track record within fast-paced environments, ideally with experience in both private and public settings.
The Vice President of Total Rewards will be responsible for several key areas:
Compensation Strategy: Redesigning and implementing an innovative compensation strategy that reflects business objectives and supports a high-performance culture, especially in light of preparing for an Initial Public Offering (IPO).
Executive Compensation: Directing the design and administration of executive compensation programs, which include equity plans, bonus arrangements, and rigorous market benchmarking processes. Collaboration with the Chief People Officer and the Board of Directors' Compensation Committee will be paramount to ensuring compliance with applicable standards and maintaining competitive compensation.
Equity and Long-Term Incentives: This leader will develop systematic strategies for equity distribution and long-term incentives that facilitate retention and value creation across the organization.
Benefits Optimization: Assessing and improving the benefits portfolio to meet the complex needs of a diverse, dispersed workforce, while still maintaining cost management.
Compliance: Guaranteeing adherence to legal regulations, especially as Virta transitions into a public company phase, covering aspects like proxy reporting and equity management.
Leadership and Development: Mentoring the Total Rewards team, fostering growth, collaboration, and ensuring they provide excellent support throughout the organization.
Cross-Functional Collaboration: Partnering with senior stakeholders in Finance, Legal, and other departments to align fiscal management, reporting structures, and governance policies effectively.
Data-Driven Decision Making: Utilizing analytics to derive actionable insights regarding compensation trends, equity utilization, and workforce planning needs.
Upon commencement in this role, the new Vice President is expected to execute a thorough assessment and identify immediate enhancements within the compensation, equity, and benefits programs. Key tasks will include:
Assessment and Quick Wins: Conducting a complete audit of existing programs, spotting potential gaps or risks, and presenting strategic recommendations to senior leadership.
Team Integration: Evaluating the structure, skills, and capacity of the Total Rewards team, while providing clear directives and fostering an environment focused on collaboration and growth.
Strategic Development: Begin crafting a comprehensive, long-term compensation strategy that can both scale effectively and prepare for IPO readiness. Addressing pressing issues surrounding market positions, equity dilution, and devising strategies for retaining top talent will be fundamental.
Candidates applying for this senior leadership role in Virta Health should possess the following qualifications:
Virta Health emphasizes a values-driven culture that resonates with candidates who embody a people-first approach. Individuals who take ownership, value positive impacts over busy work, appreciate transparency, and utilize data-driven methodologies will thrive within this environment. The organization also seeks individuals who are not hesitant to take risks and iterate quickly while understanding the importance of respect for all members regardless of their backgrounds or experiences.
For this role, Virta Health offers a competitive salary range between $200,000 and $245,000 annually. The precise compensation will depend on various factors, including qualifications, expertise, and the incumbent's experience. Additionally, relevant information regarding the benefits structure can be found on the company's careers page.
For candidates desiring a position that plays a pivotal role in shaping the future of employee compensation and benefits while supporting public health advancements, the Vice President of Total Rewards position at Virta Health represents an excellent opportunity. This role not only challenges individuals professionally but also places them at the forefront of evolving healthcare practices.
This job offer was originally published on remotive.com
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