WHAT IS THE OPPORTUNITY?

Reporting to the MD, US Compensation & Governance, the Director, Incentive Compensation Management will lead a variable incentive program team within the HR Compensation Center of Excellence (COE) to centrally manage sales incentives, calculations and payment processes. Role includes managing the implementation, configuration, and development of incentive management systems used to manage monthly, quarterly, and annual incentive payments across multiple business lines. The player-coach will ensure accuracy of payout calculations, compliance with governance and business objectives, and reporting and analyses, while maintaining the system for new and changing business requirements.

• The leader will collaborate with HR, business, technology, and cross-functional teams to implement and manage the incentive compensation systems and processes. The manager will analyze plans and plan effectiveness, identify trends, and support the design, development, and documentation of new and enhanced plans and processes.
• The leader will ensure compensation programs, policies, initiatives and solutions reflect and are executed with good governance and sound risk management practices. While leading execution of current incentive plan programs, manager drives roadmap with forward looking vision focused on scale, process efficiencies and overall compliance.
• The candidate should be familiar with system implementation, testing and identifying system issues in a testing environment. Successful candidates will exhibit a proactive mindset, operate with a sense of urgency, and have a proven track record of collaboration and taking ownership in projects.

WHAT WILL YOU DO?

• Manages the compensation system and team responsible for sales-based incentive compensation management.
• Manages the implementation, design, build, configuration and development of the Varicent incentive compensation management (ICM) platform, including onboarding incentive plans.
• Manages the calculations of variable compensation programs, ensuring accurate and timely payments and reporting.
• Provides reporting and analytics to support incentive compensation program assessments and redesign projects.
• Provide data-driven recommendations to leadership for plan optimization, performance improvements and alignment with business objectives.
• Ensure compensation programs, policies, initiatives and solutions reflect and are executed with good governance and sound risk management practices.
• Analyze compensation-related data and performance metrics to identify plan performance, trends, discrepancies and opportunities.
• Provides support for all compensation testing and examinations executed by internal and external auditors including Regulatory agencies.
• Supports the development of materials, reports, and presentation to support systems status updates.
• Centralized management of the end-to-end processes involved in variable compensation.
• Coordinate periodic vendor risk management activities in support of Compensation Plans.

WHAT DO YOU NEED TO SUCCEED?
Required Qualifications*

• Bachelor's Degree or equivalent 
• Minimum 10+ years of experience supporting users, managing priorities, setting expectations and driving issues to resolution.
• 5+ years compensation experience in the design and implementation of compensation programs in a financial services environment .

Additional Qualifications

• High proficiency with Incentive Compensation Management Systems, HR systems, configuring plans, dashboards and reporting.
• Proficiency with working with business users to understand and document business requirements, experience creating test plans and conducting testing.
• Excellent analytical and problem-solving skills.
• Strong communication skills including interpersonal, presentation, facilitation and written.
• Strong project management skills.
• Advanced level HRS skills and experience with Microsoft Excel, Access, and Word.
• Certified Compensation Profession ("CCP") designation preferred.
• Understanding of legal and regulatory requirements

WHAT'S IN IT FOR YOU?
Compensation
Starting base salary: $140,000 - $230,000 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.