Senior Manager, Incentive Comp Programs - Commercial

Commerce Bank•Kansas City, MO

15d•$134,000 - $159,500•Hybrid

About The Position

The main purpose of this job is to lead a team that works with business leadership to design and manage incentive compensation programs that motivate employees to achieve specific performance results for the Commercial segment. This role oversees design, strategy, and the smooth operation of these programs, ensuring accuracy, compliance, and timely updates. This role also oversees the successful completion of projects that are related to enhancing and/or improving incentive compensation programs to help attract/retain top talent and drive business results that provide the desired ROI.

Requirements

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

Nice To Haves

Experience with Varicent ICM is preferred

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