Consults with clients and partners to design, evaluate, implement, and manage the base and incentive compensation programs for assigned client groups. Ensures alignment between compensation programs, compensation philosophy and business strategy. Collaborates with other compensation team to ensure consistency. This role may be focused on plan management, LOB compensation, or a combination of both for LOBs of medium complexity. Leads all or portions of incentive design teams.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Collaborates with business partners to conduct job evaluations/market pricing and consult regarding incumbent pay decisions. Provides guidance on the interpretation of compensation program guidelines.
- Leads and/or participates on incentive design teams with business partners from line of business management, HR, Risk and Finance to design, analyze, and model incentive plans that support the business strategy.
- Administers plan payouts, exceptions and accruals for a LOB of high complexity.
- Completes assessments of the impact and effectiveness of compensation plans.
- Participates in market surveys and analyzes results to determine organization's competitive position.
- Provides support for the annual compensation planning processes, including salary structure update, merit increases, incentive awards, and stock grants. Identifies areas for improvement and efficiencies. Consults with HRBPs on compensation recommendations.
- Performs highly complex financial and trend analysis and prepares standard quantitative and operational reports to support sales force effectiveness and sound compensation decisions. Investigates, resolves and documents unusual items. Summarizes and leads discussion of results with partners.
- Proactively identifies, builds and maintains effective working relationships with partners to build influence.
- Provides support for M&A-related compensation program transition.
- Participates in risk review and audit process by preparing and presenting accurate documentation.
- Ensures compliance with government regulations.
- Leads and/or participates in projects as assigned.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
- Bachelor's degree in HR, Business Administration, Finance, or related field or equivalent experience. Master's degree a plus.
- WorldatWork CCP designation preferred or demonstrated progress toward attainment.
- Four or more years of experience in related areas (financial analysis, HR analytics, incentive administration, etc.)
- Minimum of 2 years prior compensation experience in the areas of job evaluation, merit planning and administration, compensation survey participation, analysis and/or incentive design.
- Financial services industry experience preferred.
- Strong compensation design fundamentals.
- Strong business acumen.
- Ability to perform independent in-depth analysis.
- Strong mathematical/quantitative reasoning skills.
- Excellent verbal, written, and interpersonal skills.
- Strong PC skills (Excel, Access, Word) proficiency required.