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- Tasks: Lead the design and management of incentive plans to boost employee performance and retention.
- Company: S&T Bank is a dynamic financial institution focused on community engagement and employee success.
- Benefits: Enjoy competitive salary, potential remote work options, and a supportive team environment.
- Why this job: Join a collaborative culture where your ideas can directly impact employee motivation and company growth.
- Qualifications: Bachelor's degree required; 10+ years in business with 5+ years in compensation preferred.
- Other info: Mid-senior level role with opportunities for professional development and leadership.
The predicted salary is between 44000 - 106000 £ per year.
S&T Bank Lancashire, England, United Kingdom
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S&T Bank Lancashire, England, United Kingdom
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Work Location:
Main Office, Camp Hill, Lancaster, or North Shore office
Work Location:
Main Office, Camp Hill, Lancaster, or North Shore 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 lead the designing, implementing, and maintaining S&T Bank incentive plans that optimize employee recruitment, retention, and performance, as well as maximize the organization’s profitability through a strategic partnership with line of business leaders. The ideal candidate for this role should exhibit strong communication, influencing, and problem-solving skills towards all stakeholders.
Duties And Responsibilities
- Manages and consults on incentive plan design and governance for line of business leaders, adhering to best practices and appropriately balancing risk.
- Designs, develops and documents incentive plan programs, ensuring alignment to business intent, program clarity for participants, and details to support award delivery.
- Works with internal partners and stakeholders (e.g. Compensation, Human Resources, Risk Management, Business Clients, etc.) on a regular basis, providing expert compensation guidance and recommendations; consult and partner with line of business leaders.
- Evaluates 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.
- Audits and analyzes 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.
- Prepares procedures and written audit responses to ensure the appropriate accounting, reconcilement and documented desired calculation-based outcomes of incentive plan administration.
- Maintains an updated working knowledge of industry-based incentive metrics, strategies and standards to ensure competitive and compliant incentive plans are designed and maintained annually.
- Partners to develop and establish incentive governance standards, processes, and training to ensure well governed programs and oversight
- Leads strategic compensation projects, key initiatives or processes horizontally across client groups, as assigned.
- Exhibits thoughtful leadership.
- Maintains a good working relationship with all bank employees. Demonstrates the ability to work independently. Works as a team player to contribute to the success of the department and in turn the organization.
- Assumes additional responsibilities as required.
Education
- Requires a four-year bachelor’s degree or military experience in a business, accounting and/or human resources related field. Master’s degree in accounting, Statistics, Business Administration, Economics, Finance, or Human Resources. Certified Compensation Professional (CCP) preferred.
Experience
Requires ten years general business-related experience with an additional 5+ years of experience in Compensation, payroll and payroll system knowledge.
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
$55,000.00 – $149,000.00
Seniority level
-
Seniority level
Mid-Senior level
Employment type
-
Employment type
Full-time
Job function
-
Job function
Human Resources
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Incentive Compensation Manager employer: S&T Bank
Contact Detail:
S&T Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Incentive Compensation Manager
✨Tip Number 1
Familiarise yourself with the latest trends in incentive compensation. Understanding current best practices and industry standards will help you speak confidently about how you can contribute to S&T Bank's goals during interviews.
✨Tip Number 2
Network with professionals in the compensation field, especially those who work in banking or finance. Engaging with industry peers can provide valuable insights and potentially lead to referrals that could boost your application.
✨Tip Number 3
Prepare to discuss specific examples of how you've designed or improved incentive plans in previous roles. Highlighting your problem-solving skills and ability to influence stakeholders will demonstrate your fit for the role.
✨Tip Number 4
Research S&T Bank’s current incentive programmes and be ready to suggest improvements or new ideas. Showing that you've done your homework will impress the hiring team and show your genuine interest in the position.
We think you need these skills to ace Incentive Compensation Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in compensation management and human resources. Use keywords from the job description, such as 'incentive plan design' and 'stakeholder engagement', to demonstrate your fit for the role.
Craft a Compelling Cover Letter: In your cover letter, explain why you are passionate about incentive compensation and how your background aligns with S&T Bank's goals. Mention specific achievements that showcase your problem-solving skills and ability to influence stakeholders.
Showcase Relevant Experience: When detailing your work history, focus on your experience with incentive plans, compliance, and collaboration with various departments. Provide examples of how you've successfully designed or improved compensation strategies in previous roles.
Proofread and Edit: Before submitting your application, carefully proofread your documents for any spelling or grammatical errors. A polished application reflects your attention to detail, which is crucial for a role that involves managing compensation practices.
How to prepare for a job interview at S&T Bank
✨Understand the Role
Make sure you have a clear understanding of the Incentive Compensation Manager role. Familiarise yourself with the key responsibilities, such as designing and implementing incentive plans, and how they align with the bank's goals.
✨Showcase Your Experience
Prepare to discuss your previous experience in compensation management. Highlight specific projects where you've successfully designed or improved incentive plans, and be ready to explain the impact of your work on employee performance and retention.
✨Communicate Effectively
Strong communication skills are essential for this role. Practice articulating your thoughts clearly and confidently, especially when discussing complex compensation strategies. Be prepared to answer questions from various stakeholders.
✨Stay Updated on Industry Trends
Demonstrate your knowledge of current trends in compensation and incentive metrics. Research industry standards and be ready to discuss how you would ensure S&T Bank's incentive plans remain competitive and compliant.
