Compensation Consultant I - Cross Consumer Resource Team

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
Fully functioning non-supervisory position responsible for providing diverse analytical support to the design and development of compensation products that support the strategy for assigned businesses, executives or international clients. May directly consult with business managers in the development of these products.

The Compensation Consultant I will engage with Design Leads, as well as, Compensation, Finance, Legal, Compliance and key executives to support cross consumer design initiatives in a unified environment influencing and driving initiatives to impact change. The role actively works with teammates and partners to define requirements and processes to ensure changes are administered efficiently and consistently.  Additionally, the role analyzes results, evaluates impacts of plan changes and participates in goal/metric reviews and develops recommendations to ensure plan effectiveness.

Responsibilities:

• Support the Design, Build, and Maintenance of Consumer (Preferred and Business Banking) formulaic incentive plans and reference materials

• Work in conjunction with Incentive Design Leads – acting a resource is support of compensation strategy and business objectives

• Managing multiple cross consumer initiatives simultaneously, while supporting specific cross consumer functions, such as managing control execution (quality assurance), leading workstreams, defect remediation, and actively participate in workgroup meetings providing valuable feedback.

• Influencing change by becoming an subject matter expert for all Consumer formulaic incentive plan.

Required Qualifications:

• 2+ years of Compensation Experience or successful performance in a role with strong analytical focus

• The ability to handle highly confidential and sensitive information with discretion and maturity

• Strong advisory and influencing skills and must have experience working directly with leaders, advising/consulting with them on HR, Compensation or related issues

• Data/quantitative analysis experience and strong analytical and problem solving skills – experience gathering, organizing, analyzing and presenting large amounts of data clearly and concisely to help make fact-based decisions

• Strong MS EXCEL skills (familiar with complex pivot tables, data filtering, lookups)

• Experience creating high impact presentations utilizing PowerPoint and the ability to clearly “tell the story” with complex underlying data; be able to analyze present-state, and develop alternative future-state approaches

• A project/program management background and the ability to prioritize tasks and manage multiple projects with a strong attention to detail and appropriate sense of urgency

• A business centric mindset with the ability to utilize sound business judgment and tailor approach to drive optimal business outcomes

• Relationship management skills including the ability to interact, communicate and influence peers and partners

• Be a demonstrated self-starter and a results-oriented professional who can develop and manage relationships across multiple groups

• Be a team player and display a strong work ethic

• Demonstrate the ability to grasp a comprehensive understanding of Compensation issues and priorities; effectively analyze and diagnose problems; provide clear advice and recommendations to help make sound business decisions

Desired Qualifications:

• Bachelor's degree preferred in Business Administration, Finance, Accounting, or Economics

Skills:

• Analytical Thinking

• Attention to Detail

• Benchmarking

• Compensation Analysis

• Research

• Budgeting

• Data and Trend Analysis

• Financial Management

• Consulting

• Presentation Skills

• Reporting

• Strategic Thinking

Shift:

Hours Per Week: