Lead Compensation Consultant

Lead Compensation Consultant

Work is highly autonomous, with constant use of discretion on matters that result in significant organizational and/or financial impacts. Effectively provides Compensation Consultative support & advice to business units with high organizational complexity and multiple business units and geographies. Primarily supports highly complex revenue producing and/or customer facing jobs with a multitude of incentive plans Proven ability to link jobs with various incentive opportunities, to understand and speak to total compensation for positions on BUI incentive plans. Advises Incentive Compensation on market data and competitiveness of internal pay practices. Ensures alignment of pay communications to business leaders.

Position Responsibilities:

Risk & Compliance

• Must stay abreast of federal and state regulations impacting Compensation.
• Ensures compliance with FLSA exemption classifications and independently meets with business leaders to provide clarity on white collar exemptions when necessary.
• Owns job description templates and updates job functions related to ADA accommodations when necessary.
• Leads internal and external audit processes 25%.

Reporting & Analytics

• Works on a variety of complex projects involving analysis, job mapping, project planning, and testing.
• Coaches HR Consulting and/or business leaders on job descriptions, ensuring job content is appropriately captured.

Salary Program Administration

• Autonomously reviews job and pay change requests and consults with the business and HR Consulting on best approach.
• Administers base pay in accordance with salary structures; develops new pay structures, analyzes, and advises on annual refresh, and partners with HR Operations to ensure all changes are appropriately captured in ADP.
• Exercises discretion related to counteroffers, above max offers, and retention strategies.
• Drives Q1 and Q3 processes, with full ownership of eComp system; Partners with vendor before, during, and after each Q1 and Q3 process to configure eComp, including cascaded budgets, planning hierarchies, and co-planner access.
• Uploads employee data into eComp and tracks merit/AEB eligibility related to retirements and career mobilities 25%.

Market Pricing & Benchmarking

• Autonomously benchmarks internal jobs against market data.
• Conducts highly complex market reviews and engages Incentive Compensation to ensure alignment with BUI Plans.
• Conducts research and analyses on market competitiveness, pay equity, and pay trends and provides consultation to Management when necessary 15%.

Compensation Management Software

• Ownership of Compensation software, including eComp (HRsoft) and CompAnalyst (Salary.com).
• Advanced knowledge of Compensation software, ensuring configuration for the most effective use.
• Overall software project ownership inclusive of auditing internal data, performing testing of configuration and data interface files to ensure data integrity and accuracy.
• Liaison between software vendors and internal HRIS/Technology departments for SSO, and other required support.
• Manages vendor relationship for CompAnalyst, and co-manages HRsoft relationship with Manager 10%.

Salary Survey Participation

• Owns survey process, including vendor management, survey submissions, uploading results into CompAnalyst, and re-mapping matches to newest salary survey data.
• Advises Management on addition or discontinuation of salary surveys.

Position Qualifications:

• Bachelor's degree from an accredited university or in lieu of a bachelor's degree a High School Diploma or GED and 6 years of related experience
• 5 years of experience in broad-based compensation experience partnering and consulting with HR Business Partners and business leaders
• 4 years of experience administering compensation software for benchmarking and annual reward cycles
• 2 years of experience in compensation vendor management

About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.

Upon offer, Comerica conducts a comprehensive background and fingerprint check.

NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.

Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.