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The Incentive Compensation and Performance Enablement team in Corporate and Institutional Group (CIG) is currently seeking an Incentive Compensation Enablement Associate. This team works closely with business leaders in CIG and provides strategic executive guidance regarding incentive compensation plan designs, and is responsible for managing the administration and coordination of the performance management and incentive compensation process. This team partners closely with finance to support compensation funding activities, and partners closely with human resources on comprehensive market information analysis. The Incentive Comp and Performance team is charged with helping to embed the Truist culture relating to performance and compensation within the organization.
Key responsibilities of this position include:
Lead the end to end incentive compensation process in partnership with the business leaders, including: design, calculation, coordination of approvals, communications, and administration of the process.
Work with Finance and leaders to ensure accuracy of accruals and incentive payments.
Works closely with risk partners and data office partners to ensure execution of the programs adhere to prudent risk management principles.
Conduct data analysis, including trend analysis and support market analysis
Partner with Finance and HR teammates to provide advisory to the business.
Ensure the company’s compensation practices and principles are applied thoughtfully throughout the businesses supported
Perform independent modeling and analysis of internal and external benchmarking data to support the business’ rationale for compensation decisions
Actively lead and/or participate in CIG-wide and firm-wide projects involving compensation, including but not limited to policy reviews, changes in compensation practices, and systems development
Monitor the effectiveness of existing incentive plans and work with HR, leadership, risk and legal on any proposed plan changes which are consistent with compensation trends, in compliance with regulations and in line with the company’s performance and compensation philosophy.
Assists in the preparation of executive level proposals/presentations in support of incentive program planning and evaluation.
Critical success factors for the role include: excellent attention to detail, strong data synthesis and modeling skills, maturity with sensitive information, ability to collaborate and lead a variety of stakeholders, and an ability to develop effective executive level presentations.
•Strong conceptual thinking and analytical ability
•Advanced skills in financial analysis, synthesis and interpretation of complex data and preparation of executive level presentation
•7+ years of relevant experience in line of business, incentive plan management and/talent analytics, preferably with a large financial services organization or consulting firm.
•Ability to manage complex projects and programs autonomously
•Must have superior Excel and Power Point skills
•Superior written and oral communication skills
•Ability to maintain strict confidentiality
•Advanced knowledge of financial industry, market, and products
•Excellent interpersonal style, good listening skills and the ability to communicate complex ideas clearly and concisely
•Strong partnering, leadership, and interpersonal skills; executive presence
•Success working in a fast-paced, matrixed, team environment.
•Innovation in problem solving and data-driven insights generation.
•Proven analytical ability and attention to detail
On February 7, 2019, it was announced that Company Banks, Inc. and BB&T Corporation intend to merge, with the combined entity to be named Truist Financial Corporation (“Truist”). The merger is subject to regulatory approval, and BB&T and Company remain separate and independent companies until the merger closes. This position, which would be for a role with Truist or an affiliate, is contingent upon the merger receiving regulatory approval and closing.
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