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Commerce Bank · 2 weeks ago

Senior Manager, Incentive Comp Programs - Commercial

Kansas City, MO

Full-time

Hybrid

Senior Level, Lead/Staff

$134K/yr - $160K/yr

8+ years exp

Commerce Bank is dedicated to helping people find financial safety and success while fostering a supportive culture for its employees. The Senior Manager, Incentive Comp Programs will lead a team to design and manage incentive compensation programs aimed at motivating employees and driving business results in the Commercial segment.

BankingFinanceFinancial Services

Responsibilities

Understand the needs of the business and consult and advise with business leadership on incentive designs and strategies that promote the desired behaviors to drive business results, while adhering to our guiding principles on plan designs

Perform regular analysis of incentive compensation payouts compared to business results to proactively identify areas for improvement. Utilize statistical and analytical tools to interpret data, identify trends, project future potential payouts, and provide valuable insights on incentive program performance and corresponding profit generation

Foster innovation and a continuous improvement mindset, proactively staying abreast of market trends in incentive compensation and provide thought leadership on ways to improve organizational effectiveness

Oversee routine maintenance of the data within the Commercial incentive system and ensure that proper operational controls are in place to provide accurate employee information, performance metrics, calculation of payouts, and monthly reporting to plan participants and management in a timely fashion. This includes ensuring that any system, plan design, or process changes are implemented effectively. This role will have frequent interactions with senior and executive management within the Commercial Line of Business, as well as other stakeholders

Monitor and report on key performance indicators (KPIs), continuously assessing and identify ways to streamline operations and maximize productivity, while maintaining a strong focus on data integrity and accuracy

Oversee the creation and maintenance of accurate incentive documentation, including plan documents, reference/help guides, training materials, procedural documents, and other needed documentation. This includes conducting any needed training and responding timely to plan participant inquiries

Oversee incentive plan projects and lead the effort to present scenario-based projections and plan design recommendations to senior and executive leadership. Provide guidance to team members on effective project management tactics & strategies to stay organized and drive timely decisions, keeping stakeholders and senior leaders fully engaged and updated on progress

Oversee annual incentive budgeting process, and quarterly analysis and accrual adjustment recommendations to avoid any extreme over/under accrual occurrences

Partner with business leadership, Compensation, Talent Management, and Incentive Plan Management & Systems teams to ensure that the designs are implemented effectively and are achieving the desired outcomes, making mid-course corrections if needed

Ensure compliance with relevant regulations, internal policies, and industry best practices. Implement and maintain robust security measures to safeguard sensitive data

Lead, mentor and motivate team members to implement the department strategy and manage department workflow with guidance on departmental projects/issues, and provide coaching and development opportunities appropriate to each direct report's individual needs

Perform all necessary management functions, including hiring, evaluations, annual increase allocations and disciplinary action as required

Communicate decisions, priorities and relevant information to team members effectively

Support budget management, planning and expenditure

Perform other duties as assigned

Qualification

Incentive program designData analysisProject managementStatistical modelingMicrosoft ExcelLeadership skillsCoachingInterpersonal skillsAttention to detailCommunication skillsTeam collaborationAdaptabilityMentoring

Required

Strong leadership, project management, and organizational skills, with the ability to lead and manage multiple projects at the same time

Statistical background with hands-on experience in data analysis, modeling, and interpretation of complex financial data is preferred

Strong critical thinking skills and attention to detail with the ability to apply discretion and sound judgement to efficiently and effectively solve problems

Ability to drive results and balance management of organizational risk and meeting goals of the business

Strong leadership skills with ability to motivate team members and foster a positive team environment that gives way to collaboration and unified goals

Outstanding interpersonal and relationship building skills with the ability to effectively communicate with all levels of the company, clearly expressing ideas and concepts both verbally and in writing

Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values

Intermediate level proficiency with Microsoft Word, Excel, Teams and Outlook

Bachelor's degree in a related field or equivalent combination of education and experience required

8+ years of experience in designing and managing complex incentive programs, or related experience

4+ years of experience in managing teams and fostering a collaborative work environment