SunTrust Banks RIPB Incentive Design & Performance Manager in Atlanta, Georgia
Req ID: W456651
Job Description The RIPB Incentive Design & Performance Manager will support the design and maintenance of incentive compensation plans, to include incentive design, plan analysis, compliance & risk assessment, teammates. The Incentive Design & Performance Managers is responsible for leveraging knowledge in operations, goal-setting, finance, competitive landscape review, as well as compensation program design, benchmarking and administration. Assesses current processes and develops recommendations for improving ongoing processes. The Manager will analyze reports and data that help to interpret how teammates and the business are performing in relation to incentive plan measures and performance goals, and to will make recommendations for improving the quality of the incentive plan through measures, goal-setting, reporting, training, communication, etc. The Manager is responsible for the design, development, and publication of management reports, and for the accuracy of the data. This position will support assigned programs and initiatives to ensure that stated objectives are met and that the programs/initiatives continue to support the mission of the organization. Expected to be a strong team player who can build both internal and external relationships, cooperate with internal business units and work at all levels of the organization to meet business units and organizational objectives. •Ensures that RIPB incentive plans are aligned to the purpose, principles and values of SunTrust •Facilitates the annual review & design of incentive plans for assigned client groups •Assesses the effectiveness of incentive plans and makes recommendations for improvement •Models or oversees the modeling of incentive plan changes using Excel, Oracle, and/or SQL •Develops and delivers highly effective presentations that influence with impact •Conducts regular analysis of incentive plan performance, pay-for-performance, etc. •Models or oversees the modeling of goals using MS Excel and other tools •Provides reports and analysis that are accurate and free of errors, as a result of data review and attention to detail •Summarizes and reports verbally and in writing or in PowerPoint •Performs routine (monthly, quarterly, semi-annual, annual) analysis of incentive plan performance •Provide insights on trends and other findings related to incentive plan performance •Work closely with Compliance, Risk, Product, Finance, Sales, Human Resources, Teammate Experience and other internal partners to identify potential incentive plan changes and impacts of such changes •Schedules incentive design meetings with all key stakeholders •Documents all plan administration specifications and reviews with SACSS •Works closely with the BIO to develop ongoing reports and analysis that will support the business and incentive plans •Prepares communication & training material for all incentive plans and delivers or assists in the delivery to plan participants •Prepares the annual Functional Incentive Plan (FIP) approval documents and FIP plan documents for all assigned plans •Researches industry best practices and looks for ways to incorporate them into incentive designs •Works with Total Rewards to ensure that incentive and total compensation targets are competitive and aligned to SunTrust’s compensation philosophy •Collaborates with key stakeholders to ensure that RIPB plans are complimentary to and consistent with other plans across the Consumer Bank •Performs analytics related to teammate incentive pay and business performance with a focus on continuous improvement and reduction of unwanted outliers •Performs analytics identifying the key drivers of business success and how they relate to the incentive plan •Provides analytical support to the Incentive Design Manager and leaders in the Retail Bank •Provides detailed, analytical support, including financial and statistical modeling, for the creation, implementation and execution of incentive compensation initiatives. •Delivers professional and proactive client service; continuously strives for process improvement, excellent service delivery, and productivity. •Develops positive, collaborative relationships with cross functional partners and customers. Qualifications
Bachelor’s degree or equivalent work experience in a relevant field. 5 years work experience in the industry, working with specific analytics tools relative to the work area, including MS Office and industry-specific software/systems. Complex, in-depth understanding of the business unit’s functioning. Demonstrated ability to synthesize and draw conclusions from variant information sources. Demonstrated excellence in analysis, leadership, change management, project management, negotiation, persuasion, directing others, and communication.
Previous incentive design experience highly preferred. Prior branch banking experience preferred. Previous consulting experience.
Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national origin, age, disability, veteran status, pregnancy, marital status, citizenship status, sexual orientation, gender identity, genetic information, or any other classification protected by applicable laws.
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