Compensation and Incentive Consultant

Compensation and Incentive Consultant

Requirements

• Bachelor’s Degree
• 6-8 years Finance, Accounting, Sales Compensation, or HR preferably within the banking Industry

Responsibilities

• Partnering cross functionally with business lines to provide analysis, program design, incentive compensation plan design, and consulting expertise for Associated Bank’s colleague core compensation programs and incentive plans, as assigned
• Manage the design and development of core compensation as well as multiple incentive, sales incentive, and commission plans and programs that motivate colleagues and support Associated Bank’s business strategies and requirements
• Partner with business line management and other key stakeholders for design, design effectiveness, communication, education, and implementation of the incentive/commission plans and policies for their business lines
• Collaborate with the Incentive Compensation Administration team to ensure proposed plan design features and components can be objectively measured and reported to ensure timely and accurate payments to colleagues
• Stay abreast of changing strategies, regulatory requirements and trends of incentive compensation programs and practices to support Associated Bank’s competitive positioning
• Deliver Company and HR initiative support as identified based on business needs
• Lead the strategic plan design, communication, education, and implementation of the incentive plans, programs, and policies for their business lines
• Function as a subject matter expert on both core compensation and special incentive compensation programs
• Act as consultant for the business lines and HR Business Partners on colleague compensation programs and plans
• Evaluate, maintain and support the administration of colleague compensation programs through financial modeling, advanced analytics, research, and administration
• Manage applicable salary survey processes and evaluate market data, trends, peer company pay practices to ensure competitiveness
• Develop and perform financial modeling and advanced analytics to assist in the decision-making process to ensure alignment of incentive plan components to business line results and objectives
• Research and validate metrics are clear, measurable, performance-based to achieve financial objectives while ensuring the appropriate management of risk in collaboration Risk and other groups as needed
• Responsible for the annual sales incentive plan design process (and any mid-year or ad-hoc requests), including the creation, management and execution of the project plan to meet identified deadlines
• Manage the business line incentive plan design teams, collaborate with team members to ensure deliverable deadlines are met and all required approvals are received
• Oversee the implementation and development of all Sales incentive plans and programs in partnership with the business line and incentive plan administrative team
• Create and deliver presentations to the Incentive Compensation Governance Committee and Sub-Committee for both annual and ad-hoc incentive plan approvals as outlined in the Committee Charter
• Responsible for ensuring Committee meetings are scheduled in advance to ensure member participation and timely distribution of materials
• Identify and establish overarching standards for the design and implementation of incentive plans that are in alignment with Associated’s risk governance framework
• Evaluate the effectiveness, return on investment, and other strategic impacts of incentive plans within the organization and recommend design enhancements and process improvements
• Present analysis and recommendations to senior management
• Keep abreast of legislative and regulatory changes, ensuring that core compensation and incentive plans remain in compliance with all administrative guidelines and requirements
• Answer complex or sensitive questions and concerns from management, HR Business Partners, Compensation team, the Incentive Compensation Administration team and colleagues
• Participate in development of budget and forecasting for both core compensation and incentive compensation plans in partnership with Finance and business line leaders
• Responsible for maintaining the monthly forecasting file for Finance
• Create and/or assist in creating and updating incentive compensation plan documents, terms & conditions, policies, scorecards, and presentation materials
• Lead and engage in incentive internal controls/auditing functions in partnership with the Audit department and ensures compliance with regulatory standards
• Support colleague core compensation programs and HR initiatives as identified based on business needs

Preferred Qualifications

• CCP – Certified Compensation Professional by start date
• CSCP-Certified Sales Compensation Professional within 2 years