Compensation Analyst

Make banking a Fifth Third better

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GENERAL FUNCTION:

Participates in the design, evaluation, implementation, and management of base pay and incentive compensation programs for assigned client groups. Ensures alignment between compensation programs, compensation philosophy, and business strategy. This role has responsibilities associated with incentive compensation plan management and line of business compensation support. May contribute as a member of an incentive design team or participate in the sales incentive design process as additional project support .

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIESAND RESPONSIBILITIES:

• Collaborates with business partners to conduct job evaluations/market pricing and consult regarding incumbent pay decisions with manager oversight.
• Provides guidance on the interpretation of compensation program guidelines.
• Participates on sales incentive design teams with business partners from line of business management, HR, Risk and Finance to design, analyze, and/or model incentive plans that support the business strategy.
• Administers incentive plan payouts, exceptions, and associated policy and procedure documentation for the plan.
• Assists Finance in tracking plan performance to validate accurate payout projects and accruals.
• Completes assessments of the impact and effectiveness of compensation plans.
• Assists with preparing key deliverables for various stakeholders.
• Participates in market surveys and analyzes results to determine organization's competitive position.
• May assist with the annual compensation planning processes, including salary structure update, exceptions, merit increases, incentive awards, and stock grants.
• Performs moderately complex financial and trend analysis and prepares standard quantitative and operational reports to support sales force effectiveness and sound compensation decisions.
• Investigates and documents atypical items, such as reporting anomalies, incentive exception trends, etc. . Summarizes and assists in discussion of escalated items with key partners.
• Proactively builds and maintains effective working relationships with partners
• May provide support for M&A-related compensation program transition.
• Participates in risk review and audit process by preparing and presenting accurate documentation.
• Ensures compliance with government regulations.
• Participates in projects as assigned. Assists in training for new compensation team members

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Bachelor's degree in HR, Business Administration, Finance, or related field or equivalent experience.
• 3 or more years of experience in related areas (compensation, financial analysis, HR analytics, incentive administration, etc.)
• Compensation experience in the areas of job evaluation, merit planning and administration, incentive plan administration, analysis and/or incentive design is preferred.
• Solid business acumen.
• Ability to perform independent in-depth analysis
• Strong mathematical/quantitative reasoning skills.
• Ability to maintain professional demeanor in a dynamic work environment that often requires management of multiple priorities.
• Ability to manage to deadlines with attention to detail and focus on accuracy Excellent verbal, written, and interpersonal skills.
• Strong PC skills (Excel, Access, Word) proficiency required.

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.