LPL Financial - Fort Mill, SC
posted about 2 months ago
LPL Financial is seeking an AVP, Incentive Compensation to join our Human Resources team. This role will report directly to the VP of Compensation and will operate within a matrix environment, providing both strategic and operational support to business unit leadership while also supporting various Human Resources initiatives. The Incentive Compensation function is crucial as it centralizes the Incentive Compensation Plan (ICP) Design and Governance under the Incentive Compensation Committee (ICC). This includes managing sales incentive reporting, metrics, and communication to LPL's salesforce. The ideal candidate will have a strong background in sales compensation and the ability to collaborate effectively with cross-functional teams. Experience in the financial services industry is preferred, as the sales incentive plans are vital for driving engagement, motivation, and strategy within LPL's rapidly growing sales teams. As the AVP, Incentive Compensation, you will be responsible for the execution and continuous improvement of our Incentive Compensation Program. This involves considering the big picture and utilizing your expertise in data management to optimize workflows and increase efficiencies. You will partner with multiple sales organizations to develop or refine sales incentive plans that align with corporate goals while incentivizing new store sales, same store sales, and revenue growth. Additionally, you will research the effectiveness of current sales compensation metrics and identify potential areas for improvement, as well as benchmark market data to evaluate the competitiveness of our sales compensation plans. Your responsibilities will also include overseeing the incentive sales programs, ensuring proper separation of duties in design, payment calculations, audit, reporting, and administration. You will analyze current sales operational processes to recommend improvements and ensure participation in annual survey submissions. Furthermore, you will consult with Human Resources partners and Business Leaders on competitive pay practices, model compensation data, and develop reports and key metrics to support our pay-for-performance culture. Training and communication with employees and managers regarding LPL's compensation philosophy will also be part of your role, along with developing clear communications about compensation programs and processes. You will drive continuous enhancement in workflows by identifying process improvements and focusing on operational efficiency, while also managing the development of quarterly presentation materials for the Incentive Compensation Committee, which includes LPL executive management. Lastly, you will supervise a team, ensuring efficient workflow and high-quality output while fostering a collaborative and productive work environment.