What are the responsibilities and job description for the Compensation Analyst position at fifththird?
Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. GENERAL FUNCTION: Participates in the design, evaluation, implementation, and management of base pay and incentive compensation programs for assigned client groups. Ensures alignment between compensation programs, compensation philosophy, andbusinessstrategy. This role may be focused on plan management, LOB compensation, or a combination of both for LOBs of low to medium complexity. May contribute as a member of an incentive design team. Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensuresthatactions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types. ESSENTIAL DUTIES AND RESPONSIBILITIES: Collaborates with business partners to conduct job evaluations/market pricing and consult regarding incumbent pay decisions with manager oversight. Provides guidance on the interpretation of compensation program guidelines. Participates on incentive design teams with business partners from line of business management, HR, Risk and Finance to design, analyze, and/or model incentive plans that support the business strategy. Administers plan payouts, exceptions and accruals for a LOB of low to medium complexity. Completes assessments of the impact and effectiveness of compensation plans. Participates in market surveys and analyzes results to determine organization's competitive position. Assists with the annual compensation planning processes, including salary structure update, exceptions, merit increases, incentive awards, and stock grants. Performs moderately complex financial and trend analysis and prepares standard quantitative and operational reports to support sales force effectiveness and sound compensation decisions. Investigates and documents unusual items. Proactively builds and maintains effective working relationships with partners. Provides support for M&A-related compensation program transition. Participates in risk review and audit process by preparing and presenting accurate documentation. Ensures compliance with government regulations. Participates in projects as assigned. MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED: Bachelor's degree in HR, Business Administration, Finance, or related field or equivalent experience. 2 or more years of experience in related areas (compensation, financial analysis, HR analytics, incentive administration, etc.) Solid business acumen. Ability to perform independent in-depth analysis Strong mathematical/quantitative reasoning skills. Ability to maintain professional demeanor in a dynamic work environment that often requires management of multiple priorities. Excellent verbal, written, and interpersonal skills. Strong PC skills (Excel, Access, Word) proficiency required. #LI-BP1 Compensation Analyst At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day. The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance. Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner. LOCATION -- Cincinnati, Ohio 45202 Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee. Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status. Introduce yourself to our team to stay connected on future opportunities. We look forward to finding the right place for you. Are you ready to take the next step? Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.