What are the responsibilities and job description for the Incentive Compensation Administrator I position at Truist Inc?
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Regular or Temporary :
Regular
Language Fluency : English (Required)
Work Shift :
1st shift (United States of America)
Please review the following job description :
THIS POSITION IS OFFICE-CENTRIC; 4 DAYS IN THE OFFICE
Independently manage and drive the processing, correction, and administration of brokerage incentive payments from automated incentive compensation systems. Assist with brokerage teammate questions and corrections to production and pay. Manage the development and execution incentive compensation system projects within the specified line of business (LOB) timelines. Provide subject matter expertise, advisory services, and support to the LOB and other key stakeholders.
Essential Duties and Responsibilities
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Administer incentive compensation plans via automated solutions that may or may not include manual adjustments, calculation support, source data validation and upload of data from source systems.
Support assigned Lines of Business (LOBs) by providing accurate and timely responses to data / award adjustments and research requests, meeting all Service Level Agreements (SLAs) with minimal guidance.
Perform functional testing of new and revised business requirements that are configured in the automated incentive compensation system. Ensure expected results are achieved and provide feedback to the configuration team if issues are found.
Provide accurate and meaningful responses to questions and presents solutions to the field and system partners for systematic issues. Present key observations and / or data analysis in a professional manner, with follow-up occurring based on established SLAs to LOB partners through solid communication and service, without sacrificing Compliance standards or established procedures.
Proactively identify issues; form a working group to address items; implement solutions. Escalate more complex issues to other members of the ICA team.
Identify manual processes and participate in or deliver automated solutions and / or eliminate non-value or low value activities. Develop and maintain thorough documentation of processes and procedures specific to area of administration.
Deliver solutions to LOBs through engagement with various key partners, such as the Consumer Data Office, HR Business Partners, and Enterprise Technology.
Qualifications
Required Qualifications :
The requirements listed below are representative of the knowledge, skill and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor’s degree or equivalent education, training, and work-related experience
Two years of financial services experience, including exposure to technology applications
Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
Excellent organizational skills
Excellent interpersonal skills
Strong analytical skills
Strong process orientation
Preferred Qualifications :
Professional in Human Resources designation (PHR).
Brokerage / commissioned incentive plan experience.
Varicent Incentive System experience.
Root cause analysis experience.
Graduate of the Truist School of Banking or similar program.
Other Job Requirements / Working Conditions
Visual / Audio / Speaking
Able to access and interpret client information received from the computer and able to hear and speak with individuals in person and on the phone.
Manual Dexterity / Keyboarding
Able to work standard office equipment, including PC keyboard and mouse, copy / fax machines, and printers.
Availability
Able to work all hours scheduled, including overtime as directed by manager / supervisor and required by business need.
Travel
Minimal and up to 10%
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation : All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site ()
- Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and / or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
Truist is an Equal Opportunity Employer that does not discriminate on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug Free Workplace.
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