Position Title
Compensation Consultant
Location
Troy/5151 Corporate Drive/112300
Job Summary
The Compensation Consultant partners with line of business (and potentially the Compensation Consultant Lead) and leadership to align compensation programs with business goals and objectives. This role requires a comprehensive understanding of the Interagency Guidance on Sound Incentive Compensation Practices and other relevant compensation regulations. The successful candidate will play a pivotal role in ensuring our incentive compensation programs are aligned with regulatory expectations, mitigate potential risks, and support the company's strategic objectives. This position interacts with all areas of HR and may interact with leadership positions outside of HR.
Job Responsibilities:
Assist in implementation of incentive risk management framework and controls to ensure that incentive practices do not encourage excessive risk-taking or undermine the company's financial stability.
Partner with Human Resources, Legal, Compliance, and business unit leaders to design, implement, and monitor incentive compensation plans that align with regulatory expectations and business objectives.
Supports incentive design and ongoing administration for calculations or incentive design projects/analysis (as needed); which may include plan documentation, payout analysis, automation and efficiency projects.
Supports projects and enhancements in Compensation; provides feedback and enhancements. Role may support a portion of a project or full project (start to finish) depending on subject matter and scope of project.
ADDITIONAL ACCOUNTABILITIES
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
Monitor emerging trends and changes in regulatory expectations and update internal policies and practices as needed.
JOB REQUIREMENTS
Minimum experience required: 3 Years compensation and analytics experience at large financial institution (Specific to market evaluation, compensation program design, compensation analysis, process improvement and documentation and experience in job design)
Detailed knowledge of the compensation regulatory environment including the Interagency Guidance on Sound Incentive Compensation Practices
Strong analytical and problem-solving skills, with the ability to assess complex risk scenarios and develop effective mitigation strategies
Excellent interpersonal and communication skills, including ability to influence and collaborate with stakeholders at all levels of the organization
Intermediate to Advanced Microsoft Excel
Preferred Qualifications:
Workday Compensation experience preferred
Demonstrated ability to work with numbers and large volumes of data with accuracy and speed
Job Competencies:
Incentive design
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
Please see job description for required skills.
