Incentive Plan Design Consultant

Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.

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Job Description:

At Regions the Incentive Plan Design Consultant will be the primary point of contact for business groups regarding incentive plan strategy and design as well as the business partner to other subject matter experts on incentive plan matters. The Consultant at this level are considered analytical and procedural experts representing the team on cross-functional processes or project deliverables.  Will be able to provide practical solutions for the business client and exhibit strong executional capabilities.

Primary Responsibilities

• Interfaces with business leaders to develop incentive strategy, manage ongoing plan changes, and assess plan results to ensure plans support business strategy and initiatives
• Manages the annual plan approval process (timelines, meetings, documentation)
• Facilitates the communication between the Business and Incentive Compensation Operating Committee Working Group/ Incentive Compensation Operating Committee (ICOCWG/ICOC)
• Understands the Business strategy in order to challenge and implement plan design changes
• Consults with the Business throughout the process to incorporate changes to plan document/plan approval forms
• Completes initial Quality Control (QC) of required approval forms prior to ICOCWG
• Works alongside Legal, Compliance, Risk Management, and other working group (WG) Members on the review process for approval
• Compiles, reviews and assists in resolution of questions from (ICOCWG) members
• Prepares the Businesses for working group meetings and (ICOC)
• Confirms all questions by (ICOCWG) and (ICOC ) are addressed prior to plan issuance
• Finalizes plan documents and issue to Businesses
• Oversees ad-hoc plan modifications, eliminations and requests for new incentive plans outside of the annual approval process
• Participates in Business strategy meetings
• Consults with business on potential ways to leverage incentives to accomplish business goals
• Captures plan clarifications as businesses are on-boarded into the centralized Plan Administration group
• Maintains plan documents to ensure plans are documented clearly and accurately
• Sets direction, objectives and format of semi-annual (ICOC) plan reviews
• Works with Finance partners to report financial performance as it relates to prior-year payouts and current year budgets
• Creates semi-annual review template and partner with Strategic Planning/Finance and Business Groups to highlight focal points for (ICOC) meetings
• Performs analytics to determine effectiveness of plans in driving desired behaviors and identify opportunities for improvement
• Partners with business to identify the behaviors the incentive plan is attempting to motivate and how to measure how well plan in driving those behaviors
• Manages various compensation-related projects including process improvement and automation
• May lead a team of Consultants or Analysts and offers support for the team's ideas and proposals

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

Requirements

• Bachelor's degree in Human Resources, Business, Accounting, Finance or a related field
• Nine (9) years of directly related compensation or variable compensation experience

Preferences

• Certification as Senior Professional in Human Resources (SPHR) or Certified Compensation Professional (CCP)
• Experience in banking industry

Skills and Competencies

• Able to influence business leaders
• Advanced problem-solving skills
• Analytical skills
• Excellent communication skills
• Extensive knowledge of compensation strategies and incentive programs
• Proficient in Microsoft Office
• Strong organizational skills and attention to detail

This position may be filled at a higher level depending on the candidate's qualifications and relevant experience.

Position Type

Benefits Information

Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.

• Paid Vacation/Sick Time
• 401K with Company Match
• Medical, Dental and Vision Benefits
• Disability Benefits
• Health Savings Account
• Flexible Spending Account
• Life Insurance
• Parental Leave
• Employee Assistance Program
• Associate Volunteer Program

Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions' benefits, please click or copy the link below to your browser.

https://www.regions.com/welcometour/benefits.rf

Location Details

Location:

Bring Your Whole Self to Work  

We have a passion for creating an inclusive environment that promotes and values diversity of race, color, national origin, religion, age, sexual orientation, gender identity, disability, veteran status, genetic information, sex, pregnancy, and many other primary and secondary dimensions that make each of us unique as individuals and provide valuable perspective that makes us a better company and employer. More importantly, we recognize that creating a workplace where everyone, regardless of background, can do their best work is the right thing to do.

OFCCP Disclosure: Equal Opportunity Employer/Disabled/Veterans