The Incentive Compensation Analyst will provide oversight on administration and on-going process improvement efforts associated with incentive compensation. This individual will be responsible for validating, reconciling and reporting on all commission and incentive compensation calculations, and will work closely with various cross-functional teams to ensure the accuracy and timeliness of all incentive compensation payment and associated reporting.
Additionally, this individual will be responsible for cross-functional organizational process improvement efforts.
- Analyzes commission and incentive compensation reporting from various sources to validate data and research all exceptions.
- Utilize all reporting systems to compile data for payment calculation or analysis.
- Perform audits of all data sources to confirm accuracy and functionality of system/process and manage issue resolution with appropriate teams as necessary and ensure all internal audit controls are effective.
- Collaborate and assist with system integration and improvement projects.
- Consolidation of data and reporting for all types of incentive compensation, including commissions and bonuses
- Provide timely responses and issue resolution, escalating as appropriate, to inquiries from all levels in the organization.
- Resolves reconciliation issues related to commission data and/or compensation payouts.
- Serve as Subject Matter Expert (SME) in troubleshooting and problem solving with internal departments on data and process issues.
- Execute and create incentive compensation training curriculum, content, and materials.
- Identify and support process improvement efforts that may include areas outside of immediate team.
Pay Plan Administration/Execution
- Ownership of the day to day administration and issue resolution for commission and other incentive pay processes.
- Calculates incentive award payments to incentivized personnel based on pay plan provisions.
- Performs activities needed for the design, development, implementation, communication, and administration of incentive programs, plans, policies, and quotas.
- Ensure accuracy and timeliness of incentive payments as outlined in the plan.
- Reviews incentive payment reports for accuracy and completeness.
- The calculation, reconciliation, and payment of incentive compensation on a monthly, quarterly, semi-annual, and annual basis which includes soliciting achievement against targets from managers and collecting appropriate approvals, as well as the reporting of incentive amounts for payroll processing and the calculating and posting of incentive compensation accruals.
- Maintenance, review, and distribution of incentive compensation plan documents on an ongoing basis, as well as communication and launch of plan components and documents for annual compensation plan updates.
- Design and implementation of reporting packages for various groups in the organization depending on business need.
- Analyze pay plan performance results, prepare standardized calculation statements, presentations, and recommendations for appropriate leadership teams, finance management and/or HR.
- Perform cost and/or trend analysis or modeling of alternative commission/incentive plan design or quota levels.
- Development or improvement of systems to effectively track or capture data.
- Reduce redundant and/or manual processes wherever possible by enhancing/expanding the current system usage.
- Identify and support organizational efficiencies, including system design, policy and financial reporting packages development and maintenance.
- 3+ years of Relevant Experience
- Qualifications : preferred BE , MBA , MCA , MCM
- Skills :
- Very strong analytical Skills .
- Strong Excel Skills with Basic understanding of Macros
- VBA Coding ( Good to have)
- Good Communications skills along with hands on Stake holder management