This position will be based out of Buffalo NY
Job DescriptionOverview:This position is responsible for managing incentive compensation across the Retail Banking, Business Banking & Contact Center lines of business. Provides leadership in the design, development, and communication of long-term incentive strategies in pursuit of business goals. Works closely with senior business and functional leaders from across the enterprise; convenes and leads teams to accomplish goals.
Primary Responsibilities:- Develop proposals for new or revised incentive compensation plans which requires conducting complex analyses and preparation of presentation materials. Make recommendations on findings to management.
- Directs all aspects of the Retail Bank, Contact Center & Business Banking incentive payment programs.
- Identify areas of operational risk in the incentive process and eliminate and/or mitigate operational risk.
- Responsible for directly managing staff. May exercise usual authority of manager concerning staffing, performance management, promotions, salary recommendations, professional development of staff, and terminations.
- Stay abreast of business, market trends and regulatory developments related to incentive compensation.
- Research questions related to incentive payments, provide basic guidance to participants on plan structure and escalate concerns as necessary.
- Maintain thorough documentation of all payments, including the approval chain.
- Produce monthly and quarterly reports to manage incentive compensation activities. Perform budget and other reporting as needed.
- Coordinate responses for Internal Audit and Regulatory queries. Responsible for achieving positive audit / exam outcomes.
- Manage participation in the annual Variable Pay Template (VPT) approval process.
- Maintain and update all procedure documents and records necessary to execute the primary tasks of the role.
- Take all necessary actions to preserve the confidentiality of compensation data.
- Perform ad-hoc analyses as needed.
- Act as a project leader on complex projects.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Promote an environment that supports belonging and reflects the M&T Bank brand.
- Complete other related duties as assigned.
Scope of Responsibilities:The position requires substantial interaction with both internal and external contacts in order to obtain pertinent information.
The position acts as liaison between department and other business units on various projects
May participate in both short and long-term planning for department.
Supervisory/Managerial Responsibilities:Will manage a team of professionals
Education and Experience Required:Bachelor's degree in a communications or business field, plus 3 years' relevant experience,
OR in lieu of a degree,
A combined 7 years' higher education and/or work experience, with a minimum of 3 years' relevant experience.
Highly skilled proficiency in the use of Windows and PC programs such as word processing, spreadsheet, presentation and database software.
Excellent oral and written communication skills.
Strong analytical and creative problem solving skills.
Ability to interact effectively with all levels of personnel.
Ability to work independently and function as a member of a team.
Education and Experience Preferred:3 years' banking industry experience.
Detail oriented.
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $107,500.00 - $179,100.00 Annual (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.
LocationBuffalo, New York, United States of America
