Bank of America Hiring for Compensation Consultant II – Consumer Formulaic Incentive Design at Pennington, New Jersey Full Time

Compensation Consultant II – Consumer Formulaic Incentive Design

Charlotte, North Carolina;Jacksonville, Florida; Atlanta, Georgia; Phoenix, Arizona; Plano, Texas; Pennington, New Jersey

Job Description:

Formulaic Incentive Plan Design Lead – Lead plan design by coordinating collaborative working sessions to ensure plans align to OpEx direction by driving plan simplification.

• Collaborate with and proactively influence partners to design, build, and maintain formulaic incentive plans leveraging Operational Excellence plan optimization principles

• Become subject matter experts for all plan across Consumer

• Become a trusted partner and interpret the business strategy

• Identify areas for continued incentive plan simplification and efficiency, including plan closures and consolidation

• Manage Change Controls and Defect Remediation Process

• Provide Cross functional support leveraging design team resources

• Facilitate governance activities (Control Partner/Steering Group Meetings) including meeting invites, agendas, and recaps

• Facilitate plan level risk assessment activities

• Ensure approvals are obtained from required stakeholders

• Create, maintain and manage plan manual documentation

• Point of contact for regulatory and audit responses

Enterprise Role Overview

Senior level non-supervisory position or team leader responsible for independently providing high level analytical support to the design and development of complex compensation products that support the strategy for assigned businesses, executives or International clients. Requires deep subject matter expertise. Will directly consult with business managers in the development of these products. Provides coaching to less experienced analysts.

Required Skills

• Minimum of 3-5+ years of Compensation Experience or successful performance in a role with strong analytical focus

• Strong Advisory and influence skills at the executive level – must have experience working directly with senior leaders within an organization, advising/consulting with them

• Strong Business Acumen – must understand how businesses work – how organizations develop strategy, utilize technology, serve customers/clients, succeed against competitors and generate profits.

• Strong analytical and problem solving skills – must have experience working with, analyzing and interpreting large amounts of data, as well as presenting the results to stakeholders and senior business leaders in an organized and efficient format

• Strong project management experience – must have experience leading smaller scale projects and/or supporting large scale projects

• Ability to develop and manage relationships across the company and a wide variety of partners based on trust, teamwork and knowledge.

• Highly proficient in Excel, Word, and PowerPoint

• Demonstrate the ability to handle highly confidential and sensitive information with discretion and maturity

• Demonstrate experience creating high impact presentations utilizing PowerPoint and the ability to clearly “tell the story” with complex underlying data; be able to analyze present-state, and develop alternative future-state approaches

• Demonstrate a business centric mindset with the ability to utilize sound business judgment and tailor approach to drive optimal business outcomes

• Be a demonstrated self-starter and a results-oriented professional who can develop and manage relationships across multiple groups

• Be a team player and display a strong work ethic

Desired Skills

• Familiarity with Bank of America HR Systems a plus

• Experience with Compensation analytics a plus

• BS/BA Degree

• Experience in financial service industry is highly preferred but not required

Job Band:

H4

Shift:

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Formulaic Incentive Plan Design Lead – Lead plan design by coordinating collaborative working sessions to ensure plans align to OpEx direction by driving plan simplification.

• Collaborate with and proactively influence partners to design, build, and maintain formulaic incentive plans leveraging Operational Excellence plan optimization principles

• Become subject matter experts for all plan across Consumer

• Become a trusted partner and interpret the business strategy

• Identify areas for continued incentive plan simplification and efficiency, including plan closures and consolidation

• Manage Change Controls and Defect Remediation Process

• Provide Cross functional support leveraging design team resources

• Facilitate governance activities (Control Partner/Steering Group Meetings) including meeting invites, agendas, and recaps

• Facilitate plan level risk assessment activities

• Ensure approvals are obtained from required stakeholders

• Create, maintain and manage plan manual documentation

• Point of contact for regulatory and audit responses

Enterprise Role Overview

Senior level non-supervisory position or team leader responsible for independently providing high level analytical support to the design and development of complex compensation products that support the strategy for assigned businesses, executives or International clients. Requires deep subject matter expertise. Will directly consult with business managers in the development of these products. Provides coaching to less experienced analysts.

Required Skills

• Minimum of 3-5+ years of Compensation Experience or successful performance in a role with strong analytical focus

• Strong Advisory and influence skills at the executive level – must have experience working directly with senior leaders within an organization, advising/consulting with them

• Strong Business Acumen – must understand how businesses work – how organizations develop strategy, utilize technology, serve customers/clients, succeed against competitors and generate profits.

• Strong analytical and problem solving skills – must have experience working with, analyzing and interpreting large amounts of data, as well as presenting the results to stakeholders and senior business leaders in an organized and efficient format

• Strong project management experience – must have experience leading smaller scale projects and/or supporting large scale projects

• Ability to develop and manage relationships across the company and a wide variety of partners based on trust, teamwork and knowledge.

• Highly proficient in Excel, Word, and PowerPoint

• Demonstrate the ability to handle highly confidential and sensitive information with discretion and maturity

• Demonstrate experience creating high impact presentations utilizing PowerPoint and the ability to clearly “tell the story” with complex underlying data; be able to analyze present-state, and develop alternative future-state approaches

• Demonstrate a business centric mindset with the ability to utilize sound business judgment and tailor approach to drive optimal business outcomes

• Be a demonstrated self-starter and a results-oriented professional who can develop and manage relationships across multiple groups

• Be a team player and display a strong work ethic

Desired Skills

• Familiarity with Bank of America HR Systems a plus

• Experience with Compensation analytics a plus

• BS/BA Degree

• Experience in financial service industry is highly preferred but not required

Shift:

1st shift (United States of America)

Hours Per Week:

40

Learn more about this role

Full time

JR-22014899

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Susan Callinan

Referral Bonus:

0

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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