Incentive Compensation Manager

S&T Bank; Lancaster (Lancaster County); On-site; USD 55,000 - 149,000; Full time

Job summary

An established industry player is seeking a strategic leader to design and implement incentive plans that enhance employee performance and drive organizational profitability. This role involves collaborating with various stakeholders to ensure competitive and compliant compensation practices. The ideal candidate will possess strong communication and problem-solving skills, along with extensive experience in compensation management. Join a forward-thinking organization where you can make a significant impact on employee engagement and business success.

Qualifications

• Requires a four-year degree or military experience in business or HR.
• 10+ years of general business experience with 5+ years in Compensation.

Responsibilities

• Manage incentive plan design and governance for business leaders.
• Evaluate effectiveness of existing incentive plans and propose alternatives.
• Draft educational materials and ensure compliance with regulations.

Skills

Communication Skills

Problem-Solving Skills

Influencing Skills

Education

Bachelor's Degree in Business or HR

Master's Degree in Accounting or Business

Certified Compensation Professional (CCP)

Job description

Work Location:

Main Office, Camp Hill, Lancaster, or North Shore office

Work Hours:

Monday - Friday

8:00am - 5:00pm

Additional hours as needed to fulfill the needs of the department.

Function: The primary focus of this role is to lead the designing, implementing, and maintaining S&T Bank incentive plans that optimize employee recruitment, retention, and performance, as well as maximize the organization's profitability through a strategic partnership with line of business leaders. The ideal candidate for this role should exhibit strong communication, influencing, and problem-solving skills towards all stakeholders.

Duties and Responsibilities:

• Manages and consults on incentive plan design and governance for line of business leaders, adhering to best practices and appropriately balancing risk.

• Designs, develops and documents incentive plan programs, ensuring alignment to business intent, program clarity for participants, and details to support award delivery.

• Works with internal partners and stakeholders (e.g. Compensation, Human Resources, Risk Management, Business Clients, etc.) on a regular basis, providing expert compensation guidance and recommendations; consult and partner with line of business leaders.

• Evaluates effectiveness and competitiveness of existing incentive plans and model potential impact of alternatives.

• Draft plans, educational materials, and communications to provide associates, managers, and HR partners with timely and accurate incentive plan information.

• Audits and analyzes internal compensation practices and policies in relation to relevant regulations. Develop recommendations for corrective actions, as needed. Provide compliance consultation to HR and business clients.

• Prepares procedures and written audit responses to ensure the appropriate accounting, reconcilement and documented desired calculation-based outcomes of incentive plan administration.

• Maintains an updated working knowledge of industry-based incentive metrics, strategies and standards to ensure competitive and compliant incentive plans are designed and maintained annually.

• Partners to develop and establish incentive governance standards, processes, and training to ensure well governed programs and oversight

• Leads strategic compensation projects, key initiatives or processes horizontally across client groups, as assigned.

• Exhibits thoughtful leadership.

• Maintains a good working relationship with all bank employees. Demonstrates the ability to work independently. Works as a team player to contribute to the success of the department and in turn the organization.

• Assumes additional responsibilities as required.

Education:

• Requires a four-year bachelor's degree or military experience in a business, accounting and/or human resources related field. Master's degree in accounting, Statistics, Business Administration, Economics, Finance, or Human Resources. Certified Compensation Professional (CCP) preferred.

Experience:

Requires ten years general business-related experience with an additional 5+ years of experience in Compensation, payroll and payroll system knowledge.

Physical Demands:

Operates a keypad device 80-90% throughout the day. The primary parts of the body involved in performing these tasks are the fingers, thumb, hand, wrist and elbows. Sitting is required 90-100% of the day. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range:

$55,000.00 - $149,000.00