Compensation Manager - Regional Banking

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This position is responsible for managing a team in developing the compensation strategy and products for a single large line of business or multiple smaller businesses. Or is an individual contributor that provides comprehensive solutions to highly complex problems or needs requiring extensive technical or functional knowledge. May manage executive compensation product design and administration company wide or International compensation for a significant geography. Participates in the development of strategic directions, plans and operating polices. Manages staffing levels to meet quality and timeliness goals. Hires, trains and develops team members.

This position will be specifically responsible for supporting the Regional Banking business and will independently provide consultation and analytical support to the design and development of compensation solutions that support our business strategy.  Requires strong consultation and analytical skills and experience and will directly consult with Human Resources partners as well as business leaders and managers in the development of solutions. Provides direction and coaching to less experienced consultants and analysts.

Responsibilities:

• Influence senior leaders and Human Resources partners using a balance of HR expertise, business acumen, objectivity, and relationship skills. Will advise and influence business partners on compensation strategy, programs, and topics.

• Develop a comprehensive understanding of client business issues and priorities; effectively analyze and diagnose problems; provide clear advice and recommendations to help client make sound business decisions.

• Respond to requests and develop compensation recommendations and solutions related to the analysis of market competitiveness and employee base pay and incentive topics.

• Demonstrated ability to translate business requirements into processes and programs that will help drive business performance.

• Manage core compensation processes for supported businesses (i.e., Employee-level analyses, Market analyses, Incentive analyses) - plan, build and flawlessly execute.

• Build strong relationships with line of business and key control partners to drive a sustainable compensation review process and facilitate problem solving to ensure objectives are being met.

• Compile, create, and summarize/analyze data (including employee data, market data, etc.) clearly and concisely to help make fact-based decisions.

• Proactively monitor, track, and evaluate impact of various compensation programs.

• Drive a repeatable and sustainable compensation review process to ensure objectives are being met.

Required Qualifications:

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

• Strong advisory, consulting and influencing skills at the executive level – must have experience working directly with senior leaders within an organization.

• 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.

• Excellent written and oral communication.

• Be a team player and display a strong work ethic.

Desired Qualifications:

• Familiarity with Bank of America HR Systems a plus.

• Experience with Compensation analytics a plus.

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

• Bachelor’s degree strongly preferred or equivalent work experience.

Skills:

• Attention to Detail

• Benchmarking

• Budgeting

• Compensation Analysis

• Financial Management

• Analytical Thinking

• Consulting

• Data and Trend Analysis

• Financial Forecasting and Modeling

• Presentation Skills

• Coaching

• Decision Making

• Influence

• Reporting

• Strategic Thinking

Shift:

Hours Per Week: