Private Wealth Performance Management Consultant Private Wealth Performance Management Consultant …

SunTrust Bank
in Atlanta, GA, United States
Permanent, Full time
Be the first to apply
SunTrust Bank
in Atlanta, GA, United States
Permanent, Full time
Be the first to apply
Private Wealth Performance Management Consultant
Job Description :
Job Description
Performance Management supports the organization by helping to align client facing teammate's activities to business strategy and operating model by leveraging incentive compensation. Team develops performance measures, production goals, enablement tools, consults with business leaders, and coordinates with support partners to create and administer annual Functional Incentive Plans (FIP) through two teams: Operations and Consulting. Both teams are responsible for incorporation of strong risk management activities in all aspects of their work.

Consulting team primary responsibility is to engage senior leadership to understand business strategy and operating model direction in order to create incentive plan designs, metrics, goals, and enablement tools to support these efforts. Results improve the business's ability to better determine teammate pay for performance. Team works in the opposite direction as well by aggregating information from multiple stakeholders including client facing teammates, support teams, and industry competitor information to influence senior leadership changes to compensation designs, business strategy, and operating model. Performance Management helps drive overall business performance by improving alignment between leadership's desired behaviors and performance expectations to client facing teammates' activities and subsequent incentive compensation.

Role responsibilities include:

  • Assist in determining incentive compensation designs for sales teammates designed to support Private Wealth Management's integration and execution of go to market strategy and operating model
  • Is knowledgeable of components in FIP plan designs and implementation, including how support partners enable incentive processing
  • Drive business results by leading cross functional teams to design FIP earning opportunities by analyzing data, identifying opportunities, and leveraging technology to design and implement FIPs while taking into consideration applicable employment law, HR guidelines, and Compliance concerns
  • Leads efforts with support teams including Human Resources, Total Rewards, Strategic Finance Office (SFO), Risk, Legal, Data Office and EdgeSell to source required data for field reporting and manager decision making
  • Analyzes data to generate useful information provided to leadership for decision making purposes
  • Effectively communicates FIP designs, reporting metrics, and goal setting determination
  • Lead for developing procedures and process flows for Consulting team required activities
  • Identifies process inhibitors, considers upstream and downstream business partner impacts, and solves for issues
  • Develops and delivers training and communication materials to FIP eligible teammates

On February 7, 2019, it was announced that SunTrust 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 SunTrust 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.

Minimum Requirements
Knowledge, Education, Certifications:
  • Bachelor's degree or equivalent experience
  • Advanced knowledge of PC skills including Microsoft Excel, Word, PowerPoint
  • MBA preferred
  • 6-8 years of business experience in incentive compensation administration and/or general business consulting
Skills & Abilities:
  • Ability to develop and lead collaboratively to achieve results, to obtain diverse views and drive optimal solutions
  • Demonstrated ability to show initiative, exercise judgment, persuasion and negotiation skills to resolve problems
  • Experience in change management and project management including effectively tracking and reporting progress up
  • Excellent interpersonal skills that lead to building and strengthening partnerships
  • Proven analytical ability to gather data and perform analysis to identify opportunities for improvement, recommend improvements, and deliver change
  • Strong written and oral communication skills. Able to explain changes effectively to teammates and/or leadership, both written and verbal including ability to explain complex processes or designs
  • Able to manage own and team priorities, with limited guidance, and focus work on the most critical or value-added solutions

Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national origin, age, disability, veteran status, pregnancy, marital status, citizenship status, sexual orientation, gender identity, genetic information, or any other classification protected by applicable laws.

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