Senior Incentive Comp Consultant
This position is responsible for the daily incentive administration, developing and maintaining detailed reporting, analytics and modeling scenarios and the client consultation aspects of assigned incentive, commission, referral, and campaign plans with moderate to high complexity. This position is the primary owner of multiple plans, supports others, performs medium to advanced reporting and analytics and proactively:
Leads annual incentive processing
Provides support and design consultation to HR consulting and the business line
Leads incentive plan benchmarking
Identifies and owns the resolution of issues
Identifies and assesses trends and opportunities for plan design, processes, systems, administrative efficiencies, and procedure development
Provide ICM system support
This position is the primary incentive administrator of medium to high complexity business unit incentive plans; and is responsible for the accurate data input and collection, calculation of awards, maintenance, and customer services for all BUI plans and participants nationally.
Position Responsibilities
Incentive Plan Administration
Manage the processing and administration of moderate to highly complex incentive, commission, referral, and campaign plans for assigned division(s).
Review and advise on incentive offer and guarantee and assess effectiveness.
Partner on modeling of potential outcomes.
Lead annual incentive processing:
Collect all required data
Prepare worksheets/systems
Prepare instructions, communications, and approval documentation
Coordinate and guide management and HR Consultants through the process and review the recommendations in accordance with plan rules and guidelines.
Provide significant support and design consultation to department leadership, HR Consulting and business line on new business unit initiatives that impact incentives.
Under independent or limited direction, provide general consultation to participants and senior managers on highly complex issues.
Responsible for the accurate data input and collection, calculation of awards, maintenance and customer services for all BUI plans and participants nationally.
Reporting & Analytics
Develop and maintain various reporting and procedures to ensure that incentive calculations are accurate and align with plan documents and regulatory guidance.
Understand plan designs and incentive drivers. Prepare accurate and timely reporting to show the relationship between business metrics and incentive payments.
Conduct complex sales and incentive analysis that identifies key drivers of incentive compensation results. Provide financial modeling to test payout assumptions under certain scenarios and when changes are made to business unit incentive plans.
Plan Design Consultation
Lead plan design consultation with plan sponsors, annual plan renewals, modeling of plan changes, assessment of change requests and preparation of Committee materials.
Lead incentive plan benchmarking and risk reviews for assigned plans. Consults with plan sponsors on findings.
Technology
Provide ICM system support on moderate to highly complex items:
Production Support Issue Identification and Resolution
Provide Business Requirements
Reporting Needs
Perform Testing
Critical Calculations
Participate in design consultations
Risk & Compliance
Ensure compliance with regulations that impact assigned plans.
Evaluate exceptions and identifies solutions to mitigate.
Maintain process and procedure documentation to ensure accurate processing and calculations.
Support audit initiatives and critical calculations, as needed for assigned plans.
Position Qualifications:
Bachelor's Degree from an accredited university in HR, Business or Finance/Accounting or similar
5 years of experience in compensation, HR, or Sales Performance Management with demonstrated alignment of business processes to strategic growth and compensation
Incentive plan design, administration and risk management experience preferred
Proficiency with Microsoft Office (Excel and PowerPoint)
Preferred experience:
Financial Institution incentive compensation administration and/or knowledge of Line of Business products, services, and business processes
Knowledge of incentive compensation management software (Varicent)
PowerBI utilization
Comerica Bank Center (CBC)
8:00am - 5:00pm Monday - Friday. This position offers a hybrid work model that includes onsite and remote days as determined by the manager.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.