Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for providing high-level analytical support for the design, delivery, and management of compensation programs aligned with business strategy. Key responsibilities include consulting with business leaders, guiding program execution, and coaching less experienced analysts. Job expectations include applying independent judgment, managing complex compensation issues, and influencing program outcomes.

Compensation Consultant II is an individual contributor role responsible for supporting compensation programs across LATAM and Canada, delivering enterprise and country-specific compensation practices, while serving as the regional compensation subject matter expert.

The role will also support the company’s commitment to equal pay for equal work, assessing compensation practices, developing remediation strategies, and delivering actionable insights. The role will partner closely with Line of Business (LOB) Compensation teams, HR, Legal, external consultants, and other stakeholders to support compensation strategy, pay data regulatory compliance, and pay equity initiatives.

Key Responsibilities

• Serves as a subject matter expert and strategic advisor on Compensation matters to Human Resources partners and Business Leaders

• Designs and delivers compensation programs aligned with business strategy

• Supports and advises on compensation related activities including but not limited to new hire offers, promotions, talent retention and year-end forecasting

• Monitors market trends and regulatory changes to inform program design

International/Regional Compensation

• Provide compensation support for HR and LOB partners in LATAM and Canada. Serve as the subject matter expert for country-specific data/ad hoc requests

• Lead and support core compensation processes for the regions, including

  • Bottoms up capacity analysis

  • Analyst program requirements

  • Benchmarking

  • Compensation evaluations (new-hires, promotions, retention, etc.)

  • FX election process and minimum pay reviews

  • Year-end compensation process

• Manage region/country-specific compensation and regulatory requirements, such as profit-sharing plans, mandatory salary increases.

• Provide support for local renumeration committees

• Maintain process documentation and support governance requirements

Pay Equity Analysis and Reporting

• Support enterprise pay equity reviews by:  

  • Partnering with external consultants, Legal, HR, and Compensation teams on strategy, analysis, and remediation efforts

  • Coordinating project plans, communications, and implementation activities

  • Performing compensation and funding analysis

  • Preparing materials and reporting for senior leadership

• Manage pay data and regulatory reporting requirements across the US, Canada, and LATAM, ensuring timely and compliant submission

• Oversee governance-related activities supporting pay equity, including model risk management, non-financial regulatory reporting (NFRR), and Single Process Inventory (POP) requirements

Required Qualifications

• 7+ years of compensation experience or successful performance in a role with strong analytical focus

• Ability to handle highly confidential and sensitive information with discretion and maturity

• Strong analytical, problem-solving, and quantitative skills, with experience managing and interpreting complex datasets

• Highly effective communication skills; Ability to translate complex data and compensation concepts into clear business insights and recommendations.

• Proven ability to build relationships, influence stakeholders, and partner effectively across Compensation, HR, Legal, and business leadership teams. Must have experience working directly with leaders – LOB, HR, and Compensation

• Strong project management, organizational, and prioritization skills with exceptional attention to detail and appropriate sense of urgency

• Ability to work effectively both independently and collaborate effectively within geographically distributed team

Desired Qualifications  

• Experience supporting global compensation programs and internationally based employee populations

• Compensation or HR experience supporting front-office lines of business (e.g., Global Markets, GCIB)

• Knowledge of compensation-related regulatory and legislative requirements

• Familiarity with model risk management, Non-financial regulatory reporting (NFRR), and Single Process Inventory

• Experience leveraging AI tools (e.g., Copilot, Claude, etc.) to improve efficiency and processes  

Skills

• Compensation Analysis

• Analytical Thinking

• Attention to Detail

• Influence

• Executive Presence

• Financial Management

• Reporting

• Consulting

• Communication Skills

• Prioritization

• Problem Solving

• Strategic Thinking

• Stakeholder Management

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil ​liability.​  

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NJ - Pennington - 1500 American Blvd - Hopewell Bldg 5 (NJ2150)

Pay and benefits information

Pay range

$115,000.00 - $150,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.