Sales Compensation Specialist

Lincoln Financial • Radnor, PA

1d • Hybrid

About The Position

This position will perform and deliver on routine assignments/projects while simultaneously leveraging and applying knowledge of their assigned area(s) of responsibility. They will be responsible for the monthly sales compensation process. In addition, she/he will identify process improvements and develop recommendations for exception and adjustment processing. The role will independently represent the variable compensation team in project and business meetings.

Requirements

• 4 Year/Bachelor's degree or equivalent work experience (4 years of experience in lieu of Bachelor's)
• 1 - 3+ Years of experience in sales analysis, financial reporting, or sales compensation that directly relates to the responsibilities for this position

Responsibilities

• Maintains knowledge on current and emerging developments/trends for assigned area(s) of responsibility, assesses the impact, and collaborates with management to incorporate new trends and developments in current and future solutions.
• Promotes and enhances organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives within assigned area(s) of responsibility.
• Performs and delivers on routine assignments/projects while simultaneously leveraging and applying knowledge of their assigned area(s) of responsibility.
• Identifies and communicates to management process improvements that reduce workloads or improve quality for their assigned area(s) of responsibility.
• Supports exception and adjustment processing by researching issues, independently recommending corrective actions; consulting with management and other internal stakeholders to drive resolutions as needed
• Designs and builds reports, (e.g. sales compensation, production crediting, compensation plan analysis, contest tracking, quarterly and annual bonuses) by region, territory, role, and other qualitative fields as needed by leadership.
• Collaborates with distribution, finance, other stakeholders to research & develop metrics utilizing data from performance monitoring systems
• Provides management with quantifiable gauges of results and to evaluate effectiveness impact of sales compensation plans/programs
• Analyzes sales performance and results to evaluate existing and proposed sales compensation plan designs and special programs.
• Communicates with managers within distribution and finance; educates on compensation plans and compensation data analysis.
• Represents business area on projects and in meetings
• Works independently and make timely decisions with the appropriate approval
• Develops financial/accounting controls to ensure data that impact sales compensation payouts are accurate and ensures controls are followed
• Evaluates the efficiency and efficacy of the sales compensation process and recommends to management potential changes to streamline processes, enhance operational effectiveness, and reduce costs.
• Communicates to management and key stakeholders on financial implications of sales compensation programs for assigned area(s) of responsibility.
• Performs calculations of sales incentive plan payments including but not limited to variable incentive compensation and broker bonuses.
• Completes various data reconciliations and validations and determines appropriate resolutions.
• Identifies and resolves sales commission issues in conjunction with internal stakeholders including but not limited to IT, sales management, and Finance.
• Develops and maintains variable incentive compensation formulas and calculations in databases/spreadsheets.
• Collaborates with stakeholders to define requirements and utilize data feeds for processing sales compensation in various systems.

Benefits

• Clearly defined career tracks and job levels, along with associated behaviors for each of Lincoln's core values and leadership attributes
• Leadership development and virtual training opportunities
• PTO/parental leave
• Competitive 401K and employee benefits
• Free financial counseling, health coaching and employee assistance program
• Tuition assistance program
• Work arrangements that work for you
• Effective productivity/technology tools and training

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees