Compensation Delivery Consultant
Royal Bank of Canada · TORONTO, Ontario, Canada ·
- Employment
- Full time
- Category
- Solutions engineering
Job Description
What is the Opportunity?
Incentive Compensation Delivery (ICD) delivers variable-based compensation across 37 different professional sales roles representing 13,000 employees across Personal & Commercial Banking and Wealth Management in North America. The team is comprised of over 75 employees responsible for the administration, service, reporting, statement production and payment processing of over $3 billion in compensation annually.
In this role you will be the lead subject matter expert of the audit and control measures for the Incentive Compensation Delivery programs ensuring adherence to compensation standards and guidelines, mitigation of risk and verifying conformity to regulatory standards. You will investigate and resolve inquiries and disputes raised by sales professionals related to compensation processing outcomes, as well as escalations requesting exception to the aforementioned compensation standards and guidelines.
Do you thrive in a dynamic, highly collaborative and fast paced environment? Do you have a solution-oriented mindset and enjoy finding creative responses to complex business challenges? In this role you will be the subject matter expert of the audit and control measures for the Relationship Incentives team, ensuring adherence to compensation standards and guidelines, mitigation of risk and verifying conformity to regulatory requirements.
What you will do?
- Develop a deep knowledge of Compensation Programs and Operational Guidelines and provide expert advice and guidance on complex case process execution to identify, implement, and sustain processes that uphold data integrity, promote efficiency, and mitigate risk.
- Prepare and validate monthly, quarterly, and annual compensation files to ensure timely and accurate processing and payment.
- Investigate and respond to inquiries from the sales force and business partners within established service delivery standards.
- Execute quality assurance by conducting in-depth audit of complex files/reports in accordance with policy, program, and procedural guidelines; provide results and insights to manager.
- Raise and track issues and conflicts which compromise advisor experience, compensation delivery accuracy, operational delivery targets and Service Level Agreements (SLAs); escalate to management where required.
- Apply adjustments to previously processed compensation transactions when processing errors are uncovered while completing audits or investigations.
- Review escalations and manage outcomes in alignment with pertinent procedures, involving relevant stakeholders.
- Provide subject matter expertise and consultative support to business and technical partners on initiatives and ad hoc requests as needed.
- Champion continuous improvement by recommending procedural and operational enhancements.
- Support manager in elevating team performance by actively sharing learnings and best practices.
What you need to succeed:
Must-have
- Experience working in a service operations environment.
- Proven ability in building rapport and maintain client relationships while working independently and as part of a team.
- Ability to operate efficiently within a framework of deadlines, task priorities and adjustments to work schedules, to meet business targets.
- Desire to build exceptional client experiences, and is passionate to help partners & advisors meet their needs and resolve their concerns.
- Experience with working on projects/initiatives & issue resolution and conducting investigations.
- Demonstrated time management, organizational and problem-solving skills.
Nice to have:
- Previous experience working in the financial services industry.
- Experience working in a team and metrics based-performance environment.
- Strong Microsoft excel and access knowledge.
- Excellent written and verbal communication skills in both English and French.
- Previous experience in Incentive Compensation Delivery (ICD) environment.
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
Leaders who support your development through coaching and managing opportunities
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high performing team
A world-class training program in financial services
Flexible work/life balance options
Opportunities to do challenging work
Job Skills
Compensation Management, Critical Thinking, Customer Service, Data Gathering Analysis, Decision Making, Detail-Oriented, Long Term Planning, Operational Delivery, Time Management, Workforce AnalyticsAdditional Job Details
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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.
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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.