Valley National Bank Job - 40879091 | CareerArc
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Company: Valley National Bank
Location: Wayne, NJ
Career Level: Mid-Senior Level
Industries: Banking, Insurance, Financial Services

Description

Reporting to the SVP, Director - Total Rewards, the Incentive Compensation Manager is responsible for incentive compensation programs and the ongoing administration of the Incentive Compensation System for the Bank. This role will partner with management and the lines of business to develop and implement new and revise existing incentive compensation programs, policies, and procedures, in support of the Bank's business strategy. Additionally, this role will collaborate with all lines of business to provide credible, expert consultation regarding compensation strategy and program development.   Responsibilities include, but are not limited to:

  • Serve as the liaison between management, lines of business, and finance as it relates to the development, implementation and on-going management of incentive compensation programs.
  • Responsible for the cost-benefit analysis of incentive programs.
  • Ensure incentive compensation plans are in line with our Incentive Program & Compensation Policy.
  • Responsible for administration and oversight of the incentive compensation plans.
  • Partner with IT, Finance and lines of business to streamline and automate incentive payout calculations and KPI dashboards.
  • On-going assessment of incentive program effectiveness.
  • Audit incentive program payout calculations as completed by line of business.
  • Create and manage incentive program documentation.
  • Partner with Learning & Development team on the development of incentive plan workshop materials, clearly illustrate how participants can impact payout by driving business results.
  • Coordination of program approval process and program implementations.
  • Serve as primary point of contact for both internal and external incentive compensation audits.
  • Partner in administration of year-end compensation planning process.


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