Human Resources Senior Incentive Compensation Consultant

1 month ago

West Lafayette, United States Comerica Incorporated Full time
Welcome

We invite you to explore the award-winning culture, people, rewards and opportunities that make Comerica Bank so special. Make your next career choice a confident one.

Qualifications

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
Job Description

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.


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.

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