Incentive Compensation Analyst

Western Alliance Bank • Phoenix, AZ

3d • Onsite

About The Position

As an Incentive Compensation Analyst you'll be responsible for completing all of the tasks involved in the administration of the Incentive Compensation Plans for the Bank. This includes the design and modeling, eligibility management and payment calculation, reporting and analysis, plan auditing, and governance control. One of your key responsibilities is to work closely with the Lending Origination Officers, Deposit Relationship Managers, Business Development Officers and business unit managers to process incentive compensation payment requests, review evidence and information regarding disputed eligibility and calculation errors, and communicate plan details to new employees. You'll serve as liaison to many key stakeholders, including Executive Management, Risk and Compliance, HR Business Partners, Legal, Finance, and IT to ensure proper incentive plan design, delivery, execution, analysis and reporting. This role serves many employees and must be highly responsive and focused on quality service. Our Incentive Compensation Analyst will participate in audit and risk review to ensure plans meet regulatory and compliance requirements. Responsible for supporting leadership in the monitoring of eligibility of plan participations and ensure compliance with both plan provisions and government requirements. Provide guidance and counsel to employees, HRIS representatives on the requirements and provisions of programs and assist with the resolution of potential problems including hand off to vendors. Monitor the administration of compliance and support the Western Alliance incentives programs. You will be responsible for providing input with the design and modeling of incentive compensation plans. Contribute to the development of software and processes for eligibility and payment calculation. Participate in trend analyses and other quantitative reports to determine business trends that impact compensation. Ensure incentive payment submissions comply with bank policies and procedures, and that documentation is accurate and properly maintained. Prepare and analyze monthly reports. Assist in investigating and documenting unusual items. Document plan payouts and presents materials during audit and risk review process. Provide recommendations to support growth and eliminate or mitigate observed risks. Research current trends and regulatory/legislated requirements. Compile, analyze, and report data including employee, total rewards strategic planning and evaluation, best practices, and benchmark surveys. Support all areas within Total Rewards including Benefits, Compensation, and Incentives as needed.

Requirements

• 3+ years of related experience or similar field
• Bachelor's degree in related field required
• Entry level to intermediate knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices
• Strong interpersonal and partnering skills to facilitate effective working relationships
• Ability to take initiative, drive project work and complete work within established deadlines
• Proficient with Microsoft Office products, with advanced working fluency in Excel, SQL, VBA, or Visio
• Intermediate speaking and writing communication skills

Nice To Haves

• Prior experience with Workday strongly preferred
• Previous Varicent incentive compensation platform experience strongly preferred
• Certified Compensation Professional or World at Work Coursework preferred

Responsibilities

• Design and modeling of incentive compensation plans
• Eligibility management and payment calculation
• Reporting and analysis of incentive compensation plans
• Plan auditing and governance control
• Process incentive compensation payment requests
• Review evidence and information regarding disputed eligibility and calculation errors
• Communicate plan details to new employees
• Serve as liaison to key stakeholders (Executive Management, Risk and Compliance, HR Business Partners, Legal, Finance, and IT)
• Ensure proper incentive plan design, delivery, execution, analysis and reporting
• Participate in audit and risk review to ensure plans meet regulatory and compliance requirements
• Monitor eligibility of plan participations and ensure compliance with plan provisions and government requirements
• Provide guidance and counsel to employees and HRIS representatives on program requirements and provisions
• Assist with the resolution of potential problems, including hand off to vendors
• Monitor the administration of compliance and support Western Alliance incentives programs
• Contribute to the development of software and processes for eligibility and payment calculation
• Participate in trend analyses and other quantitative reports to determine business trends that impact compensation
• Ensure incentive payment submissions comply with bank policies and procedures
• Ensure documentation is accurate and properly maintained
• Prepare and analyze monthly reports
• Assist in investigating and documenting unusual items
• Document plan payouts and present materials during audit and risk review process
• Provide recommendations to support growth and eliminate or mitigate observed risks
• Research current trends and regulatory/legislated requirements
• Compile, analyze, and report data including employee, total rewards strategic planning and evaluation, best practices, and benchmark surveys
• Support all areas within Total Rewards including Benefits, Compensation, and Incentives as needed

Benefits

• Competitive salaries
• Ownership stake in the company
• Medical and dental insurance
• Time off
• 401k matching program
• Tuition assistance program
• Employee volunteer program
• Wellness program
• Opportunity to bolster business knowledge
• Learning the ins and outs of how successful companies operate and manage their finances
• Invaluable hands-on experience to help grow your career

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level