SVP Head of Incentives

Head of Incentives

Business Function:
Consumer and Business Banking Sales and Service Support

Reports to:
Head of Consumer and Business Banking Sales and Service Support

Business Division:
Consumer and Business Banking

PURPOSE OF THE ROLE - HOW IT ADDS VALUE
- Responsible and accountable for design, development and delivery of Consumer and Business Banking incentive programs in partnership with HR and the business to support achievement of goal to be the number one Regional Bank. This includes the setting and cascading of targets, the measurement of performance against these targets, and the control and sign-off of any incentive payments made.

- Responsible and accountable for ensuring all incentive payments have been assessed accurately, that any appeals process is managed in a fair and objective manner with HR and that the appropriate controls, and checks are in place to ensure all relevant data is accurate this also includes the actual payments themselves.


Deliverables: criteria/results by which success can be measured

Responsibilities include:-

- Develop incentive plans and strategy for all of Consumer and Business Banking
- Model incentives scenarios for the  Board based upon the organizations strategic business objectives and financial forecast. 
- Partner with business and functional areas to support delivery key strategic initiatives and improve current processes and procedures via incentive plans
- Administer, calculate and provide incentive information to payroll at the appropriate timeframe per business line
- Directs goal setting process
- Modify sales plan documents as needed
- Senior leadership role in the development, measurement, and interpretation of strategic business measures and targets which define success for the organization
- Assess effectiveness of sales incentive plans by analyzing plan results such as goal attainment distribution, pay to performance relationships and determine whether alternative incentives are needed to drive behaviour in support of strategic objectives.
- Close liason with HR to ensure full governance and coordination of incentive plans and ensure that changes are well managed.
- Maintain a working knowledge of federal and state regulations that may affect compensation policies
- Perform ad hoc analysis and projects as needed

Only candidates meeting all requirements will be notified.