Position Title
Compensation Consultant
Location
Troy/5151 Corporate Drive/112300
Job Summary
The Compensation Consultant partners with line of business (and potentially the Compensation Consultant Lead) and leadership to align compensation programs with business goals and objectives. This role requires a comprehensive understanding of the Interagency Guidance on Sound Incentive Compensation Practices and other relevant compensation regulations. The successful candidate will play a pivotal role in ensuring our incentive compensation programs are aligned with regulatory expectations, mitigate potential risks, and support the company's strategic objectives. This position interacts with all areas of HR and may interact with leadership positions outside of HR.
Job Responsibilities:
- Assist in implementation of incentive risk management framework and controls to ensure that incentive practices do not encourage excessive risk-taking or undermine the company’s financial stability.
- Partner with Human Resources, Legal, Compliance, and business unit leaders to design, implement, and monitor incentive compensation plans that align with regulatory expectations and business objectives.
- Supports incentive design and ongoing administration for calculations or incentive design projects/analysis (as needed); which may include plan documentation, payout analysis, automation and efficiency projects.
- Supports projects and enhancements in Compensation; provides feedback and enhancements. Role may support a portion of a project or full project (start to finish) depending on subject matter and scope of project.
ADDITIONAL ACCOUNTABILITIES
- Performs special projects, and additional duties and responsibilities as required.
- Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
- Monitor emerging trends and changes in regulatory expectations and update internal policies and practices as needed.
JOB REQUIREMENTS
- Minimum experience required: 3+ Years compensation and analytics experience at large financial institution (Specific to market evaluation, compensation program design, compensation analysis, process improvement and documentation and experience in job design)
- Detailed knowledge of the compensation regulatory environment including the Interagency Guidance on Sound Incentive Compensation Practices
- Strong analytical and problem-solving skills, with the ability to assess complex risk scenarios and develop effective mitigation strategies
- Excellent interpersonal and communication skills, including ability to influence and collaborate with stakeholders at all levels of the organization
- Intermediate to Advanced Microsoft Excel
Preferred Qualifications:
- Workday Compensation experience preferred
- Demonstrated ability to work with numbers and large volumes of data with accuracy and speed
Job Competencies:
- Incentive design
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What We Do
Thank you for visiting Flagstar Bank on LinkedIn, and we look forward to being part of your financial journey. On December 1, 2022, New York Community Bank (NYCB) and Flagstar Bank joined together to become one company. Today, New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The company is headquartered in Hicksville, New York. At June 30, 2024, the company had assets of $119.1 billion. We operate over 400 branches across 10 states, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and on the West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. We believe in cultivating a diverse, inclusive, and respectful workplace that engages employees, broadens perspectives, and encourages teamwork. We hire people who represent the talents, experiences, backgrounds, and diversity of the communities we serve. Together our goal is to deliver a new energy in banking to our customers, opening new doors for financial and personal success. Customers will have access to a broad spectrum of technology, products and services—all with a shared customer-first approach. Relationships are at the center of all that we do, enhanced by our commitment to delivering local market expertise, personalized solutions, and a long-standing focus on strengthening our communities. Follow us on LinkedIn to stay up to date on news and updates, new hires, community initiatives, access to our collective insights, and banking industry updates that you need to know.
