Compensation Consultant II

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 an 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:

This job is responsible for providing high-level analytical support for the design, delivery, and management of compensation programs aligned with business strategy. Key responsibilities include consulting with business leaders, guiding program execution, and coaching less experienced analysts. Job expectations include applying independent judgment, managing complex compensation issues, and influencing program outcomes.

The Compensation Consultant will engage with Global Markets Human Resource Generalists and Business Leaders as well as other Compensation professionals to provide diverse analytical and quantitative leadership and support for the design, development and execution of compensation projects, initiatives, and processes. The individual will be responsible for providing Compensation subject matter expertise and consulting to Human Resource, Business Leaders, and Compensation colleagues.

Responsibilities:

• Serves as a subject matter expert and strategic advisor on Compensation matters to Human Resources partners and Business Leaders

• Designs and delivers compensation programs aligned with business strategy

• Supports and advises on compensation related activities including but not limited to new hire offers, promotions, talent retention and year-end planning and execution

• Monitors market trends and regulatory changes to inform program design

Required Qualifications:  

• Have 3+ years of Compensation Experience or successful performance in a role with strong analytical focus

• Must have experience working directly with leaders, advising and consulting with them on HR, Compensation, or related issues

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

• Experience gathering, organizing, analyzing, and presenting large amounts of data clearly and concisely to help make fact-based decisions

• Have strong MS EXCEL skills (familiar with lookup's, conditional formulas)

• Ability to clearly “tell the story” with complex underlying data; be able to analyze present-state, and develop alternative future-state approaches

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

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

• 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

• Ability to thrive in a fast paced and demanding environment, balancing competing priorities and multiple stakeholders

Desired Qualifications:

• Experience supporting Global Markets or similar businesses a plus

Skills:

• Attention to Detail

• Benchmarking

• Budgeting

• Compensation Analysis

• Financial Management

• Analytical Thinking

• Consulting

• Data and Trend Analysis

• Financial Forecasting and Modeling

• Presentation Skills

• Reporting

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1500 American Blvd - Hopewell Bldg 5 (NJ2150), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$115,000.00 - $150,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.