Manager, Incentive Compensation & Customer Profitability

$114,500 - $136,500/Yr

Commerce Bank - Kansas City, MO

Full-time - Manager

Kansas City, MO

Personal and Laundry Services

About the position

At Commerce Bank, we are dedicated to building a career that goes beyond just climbing the corporate ladder. Our mission is to help individuals achieve financial safety and success, support businesses in their growth, and ensure that our customers and their finances are well taken care of. Our commitment extends to our employees, fostering a culture that prioritizes personal and professional development. We believe that our greatest investment is in our people, and we strive to create an environment where everyone can thrive and reach their full potential. We are currently seeking a highly skilled and motivated individual to join our team as the Manager of Incentive Compensation and Customer Profitability. This pivotal role involves overseeing the management of our Incentive System (Inspire/ELT) and Customer Profitability System (CRISP) to support our Commercial Banking team. The ideal candidate will possess strong analytical, statistical, technical, and leadership skills, along with a comprehensive understanding of incentive compensation management and customer profitability metrics. In this role, you will be responsible for the administration, maintenance, and enhancement of both systems, ensuring accurate and timely calculations and reporting of customer profitability and incentive metrics. You will utilize statistical and analytical tools to interpret data, identify trends, and provide insights that drive revenue generation and improve incentive program performance. Additionally, you will monitor key performance indicators (KPIs), implement necessary adjustments, and collaborate with cross-functional teams to ensure seamless data integration and communication of system changes. As a leader, you will mentor and motivate your team, manage departmental workflows, and perform essential management functions such as hiring, evaluations, and budget management. Your ability to communicate effectively and support your team will be crucial in achieving departmental goals and fostering a collaborative work environment.

Responsibilities

• Oversee the administration, maintenance, and enhancement of the Incentive System (Inspire/ELT) and Customer Profitability System (CRISP).
• Utilize statistical and analytical tools to interpret data and provide insights on customer profitability and incentive program performance.
• Monitor and report on key performance indicators (KPIs) for both systems and implement necessary adjustments.
• Continuously assess and improve system processes to streamline operations and maximize productivity.
• Collaborate with cross-functional teams to ensure seamless integration of data and effective communication of system changes.
• Ensure compliance with relevant regulations and implement security measures to safeguard sensitive financial data.
• Lead, mentor, and motivate team members to implement departmental strategy and manage workflow.
• Perform management functions including hiring, evaluations, and disciplinary actions as required.
• Support budget management, planning, and expenditure.

Requirements

• Bachelor's degree in accounting, statistics, or a related field.
• 8+ years of experience managing customer profitability and incentive systems.
• 4+ years of experience managing teams and fostering a collaborative work environment.
• Strong statistical skills with hands-on experience in data analysis and modeling.
• Proficiency in statistical software packages such as R, Python, or SAS.
• Knowledge of regulatory requirements and risk management principles in banking.
• Excellent communication skills, both verbal and written.
• Strong problem-solving and critical thinking skills.
• Ability to drive results while managing organizational risk.
• Intermediate proficiency with Microsoft Word, Excel, Teams, and Outlook.

Nice-to-haves

• Experience with financial data interpretation and complex financial modeling.
• Familiarity with incentive compensation best practices and customer profitability metrics.

Benefits

• Employer sponsored health, dental, and vision insurance.
• 401(k) retirement plan.
• Life insurance coverage.
• Paid vacation and personal time off.
• Career development opportunities.
• Education assistance programs.
• Voluntary supplemental benefits.