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.