Incentive Compensation and Design Manager

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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 has direct responsibility for the design, implementation, and support of one or more incentive programs within Truist Insurance Holdings. This position will directly influence key financial performance metrics by providing incentive design thought leadership for Senior and Executive Leaders, and ensuring that incentive compensation designs align to business objectives and Truist Insurance Holdings business objectives.

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.

1.    Lead the end to end incentive compensation process in partnership with the business leaders, including: design, calculation, coordination of approvals, communications, administration of the process, and working with Finance and leaders to ensure accuracy of accruals and incentive payments.
2.     Design incentive plan governance process in partnership with risk partners and data office partners to ensure execution of the programs adhere to prudent risk management principles.

3.    Serves as the subject matter expert on the design, intent and performance of assigned incentive programs.

4.    Ensures that TIH incentive plans are aligned to the purpose, mission and values of Truist.

5.    Facilitates the review and design of incentive plans and oversees the modeling of incentive plan changes.

6.    Conducts or oversees regular analysis of the plan to ensure efficacy of plan relative to plan performance, key drivers, pay for performance, etc. and partners with appropriate organizational partners to recommend improvements, understand changes and assess impacts.

7.    Ensure the company’s compensation practices, performance practices, and principles are applied thoughtfully throughout the businesses supported.

8.    Develops and delivers highly effective presentations that influence with impact.

9.    Provides insights on trends and other findings related to incentive plan performance.

10.    Documents all incentive plan specifications and reviews with Compensation, BURMs, and other Risk Partners.

11.    Partners with the Performance Measurement and HR teams to develop ongoing reports and analysis that will support the business and/or the assigned incentive plan(s).

12.    Prepares communication and training material content for assigned incentive plan(s) and delivers or assists in the delivery to plan participants.

13.    Partners with Total Rewards to ensure that incentive and total compensation targets are competitive and aligned to Truist compensation philosophy.

14.    Create and develop change management tools in support of the performance management and calibration processes and lead the development of performance management communications through various channels to ensure all stakeholders are informed of process and expectations.

15.    Influence performance management strategy by actively engaging with research partners and benchmarking with other financial and non-financial institutions to stay abreast of best and emerging practices.
 
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.
1.    Bachelor’s degree or equivalent education and related training or experience
2.    Ten years of experience in the industry, working with specific analytics tools relative to the work area, including MS Office and industry-specific software/systems
3.    Complex, in-depth understanding of the business unit’s functioning
4.    Demonstrated ability to synthesize and draw conclusions from variant information sources
5.    Demonstrated excellence in analysis, leadership, change management, project management, negotiation, persuasion, directing others and communication
6.    Ability to identify innovative solutions to meet and/or improve business results
7.    Ability to influence decisions and behavior with effective communication, persuasion, and negotiation skills
8.    Strong analytical and interpersonal abilities
 

Preferred Qualifications:
1.    Advanced graduate degree in Business or Finance
2.    Graduate Banking School or other Leadership Programs
3.    Experience in Incentive Design
 

Truist supports a diverse workforce and is an Equal Opportunity Employer who does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Drug Free Workplace.

Thank you for your interest in Truist! BB&T and SunTrust have come together in a transformational merger of equals to create Truist, the premier financial organization in the country. You may notice references to our legacy company names, BB&T and SunTrust, in places throughout this site. All such references should be understood to refer to Truist moving forward while we continue to transition to the Truist name.