Incentive Compensation Administrator

Work Location:

Main Office, Akron Office, Camp Hill, or Lancaster Office

Work Hours:

Monday - Friday

8:00am - 5:00pm

Additional hours as needed to fulfill the needs of the department.

Function:

The primary focus of this role is to assist in designing, implementing, and maintaining S&T Bank incentive plans that optimize employee recruitment, retention, and performance, as well as maximize the organization's profitability.

Duties and Responsibilities:

• Develop and maintain a comprehensive understanding of the company's incentive plans, including metrics, targets, and payout structures.

• Design, develop and document incentive plan programs, ensuring alignment to business intent, program clarity for participants, and details to support award delivery.

• Evaluate the organization's compensation and incentive plans with the goal to implement a consistently competitive and effective compensation structure for the company.

• Collect and analyze data on the organization's current compensation and incentive plans; compare this data to comparable plans and programs offered by competitors and similar companies in the industry/ geographic area.

• Research compensation strategies and goals; suggest and implement changes that may increase company morale, performance, productivity, and profitability.

• Communicate approved program changes to management and participants, answering questions and providing additional training or support about the changes.

• Conduct periodic assessments of incentive plans and any implemented changes; presents findings to management.

• Stay up to date with industry best practices and trends related to incentive compensation administration, recommending improvements to current processes and systems.

• Collaborate with internal partners and stakeholders (e.g. Compensation, Human Resources, Risk Management, Business, etc.) on a regular basis, providing expert compensation guidance and recommendations; consult and partner with sales plan administration team.

• Evaluate effectiveness and competitiveness of existing incentive plans and model potential impact of alternatives.

• Draft plans, educational materials, and communications to provide associates, managers, and HR partners with timely and accurate incentive plan information.

• Develop scorecards and reporting to help employees and leadership track budget versus actual for incentive plans. Calculate accruals.

• Audit and analyze internal compensation practices and policies in relation to relevant regulations. Develop recommendations for corrective actions, as needed.Provide compliance consultation to HR and business clients.

• Partner to develop and establish incentive governance standards, processes, and training to ensure well governed programs and oversight.

• Assist with strategic compensation projects, key initiatives, or processes horizontally across client groups, as assigned.

• Exhibit thoughtful leadership within the team and compensation community.

• Performs other related duties as assigned.

Education:

Requires a four-year degree or equivalent in Business Administration, Economics Finance, or Human Resources (master's degree preferred).

• Certified Compensation Professional (CCP)

• Five to ten years of experience in client facing or consulting roles

• Five to ten years of experience building compensation models and conducting pay analysis

• Two to five years of experience in the design, development, and documentation of sales incentive plans

Experience:

Two to five years of general experience. Five to ten years specialized experience in Total Compensation, payroll, and incentive processing and design.

Physical Demands:

Operates a keypad device 80-90% throughout the day. The primary parts of the body involved in performing these tasks are the fingers, thumb, hand, wrist and elbows. Sitting is required 90-100% of the day. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range: