Incentive Consultant Sr

Position Title

Incentive Consultant Sr

Location

Nationwide, MI 48098

Job Summary

The Senior Incentive Consultant serves as a strategic advisor and subject matter expert in the design, implementation, and administration of incentive compensation programs. This role partners with business leaders, HR, Finance, and Governance teams to ensure incentive plans align with organizational goals, regulatory requirements, and compensation philosophy. This role provides analytical insight, develops complex frameworks, and recommends solutions to drive performance, equity, and compliance across business units.

Pay Range: $75,750 - $127,361Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

JOB RESPONSIBILITIES

• Incentive Program Design - Partner with business leaders, HR, and Finance to design and refine incentive programs that align with strategic goals, drive desired behaviors, and promote pay equity. Evaluate plan effectiveness through modeling and impact analysis, ensuring designs remain competitive and compliant with governance standards. Maintain accurate and current plan inventories, supporting transparency and readiness for audits or governance review.
• Incentive Administration - Oversee the end-to-end administration of incentive plans, including setup, calculation, validation, and payout. Maintain strong quality control processes, documentation, and audit trails to ensure accuracy and compliance. Collaborate with Payroll, Finance, and business unit leaders to implement plan changes, ensure timely communication, and streamline administration across teams. Support ongoing maintenance of HR plan documents and ensure their accurate distribution to all impacted teammates.  
• Data Analysis and Reporting - Analyze performance and payout data to identify trends, assess plan effectiveness, and guide data-driven decisions. Develop reports and dashboards that promote visibility, support governance discussions, and enable business leaders to make informed decisions.
• Stakeholder Engagement and Partnership - Serve as a trusted advisor to business units, collaborating to interpret plan results, resolve inquiries, and implement approved changes. Lead discussions on program performance and plan updates, ensuring alignment between compensation outcomes and business objectives.
• Governance & Risk Management - Ensure incentive programs operate within established governance frameworks, internal controls, and policy requirements. Maintain updated plan inventories and documentation to support compliance and transparency. Partner with Audit, Compliance, Risk, and Legal teams to mitigate risks, ensure adherence to corporate policies, and strengthen control environments.Ensure all incentive programs comply with federal and state banking regulations, internal risk management standards, and legal and regulatory expectations. Support ongoing reviews and examinations by maintaining thorough documentation and demonstrating alignment with governance principles, pay equity, and industry best practices
• Incentive Management Tool Administration - Administer incentive plans within the ICM platform (e.g., Varicent), ensuring accurate setup, configuration, and calculation logic. Collaborate with IT, HR, and business partners to validate plan changes, test enhancements, and maintain data integrity. Document processes and manage system workflows to support scalability and compliance.

 

 

ADDITIONAL ACCOUNTABILITIES

• Change Management – Lead the implementation of approved plan changes, ensuring smooth transition, stakeholder alignment, and clear communication across impacted teams.
• Continuous Improvement – Identify opportunities to streamline processes, enhance system automation and strengthen accuracy and efficiency in plan administration.
• Policy Alignment – Ensure all incentive plans adhere to corporate compensation philosophy, governance requirements and regulatory standards.
• Mentorship and Guidance – Provide subject matter expertise and coaching to peers or junior team members to enhance organizational knowledge and capability in incentive design and administration.

 

JOB REQUIREMENTS

 

Required Qualifications:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent.
• Minimum experience required: 3 Years incentive compensation and analytics experience at a financial institution.
• Strong knowledge of the incentive compensation regulatory environment.
• 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:

• Education level required: Undergraduate Degree (4 years or equivalent).
• Varicent experience preferred.
• Demonstrated ability to work with numbers and large volumes of data with accuracy and speed.

 

Job Competencies:

• Incentive Design
• Analytical and Quantitative Skills
• Regulatory and Risk Awareness
• Incentive Administration
• Project Management
• Communication and Influence
• Ability to manage multiple projects and meet deadlines in a fast-paced environment.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

Qualified applicants with arrest or conviction records will be considered for employment in accordance with the California Fair Chance Act, the Los Angeles County Fair Chance Ordinance, the City of Los Angeles Fair Chance Initiative for Hiring Ordinance, and the San Francisco Fair Chance Ordinance, as appliable.