Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
This position will be responsible for the execution of various activities supporting sales incentive plan administration. In addition, as a member of CIT’s Compensation department, this position will also be responsible for base salary, annual short-term and long-term incentives planning and execution. The successful candidate will act as a consultant to the HR Business Partners and Generalists on compensation matters, support the monthly and quarterly incentive process, and assist with internal controls and ongoing compliance with compensation regulatory requirements globally.
Principal responsibilities will include:
• Assisting with planning, administration and communication for the monthly and quarterly Incentive Compensation plans, including summary reporting to Senior Management.
• Calculating quarterly/monthly incentives for several sales incentive plans, and performing self-quality checks to ensure accuracy.
• Participating in peer review.
• Providing Incentive Plan oversight, compensation analytics, communication and accurate maintenance of underlying data.
• Supporting reporting and analysis for Compensation Plans, including verifying data integrity and implementing processes and procedures to ensure ongoing accuracy.
• Providing Incentive Plan governance and oversight, compensation analytics, communication and accurate maintenance of underlying data.
• Assisting with survey participation and the preparation of market competitiveness analyses.
• Collaborating with HR Business Partners to provide input and guidance on compensation matters.
• Collaborating with other corporate functions (e.g., Legal, Accounting, Tax) to support compensation practices and activities.
• Assisting with ongoing compliance with incentive compensation regulatory requirements globally, including incentive compensation policies and procedures and risk balancing.
• Leading or supporting other compensation projects as required.
• BS/BA degree and two to four years experience
• Financial services industry experience preferred.
• Exceptional analytical, data and project management skills.
• Strong attention to detail and advanced knowledge of Microsoft Excel (vlookups, hlookups, pivot tables, etc, and preferably VBA/excel macros).
• Demonstrated ability to work successfully both independently and as part of a team.
• Ability to establish strong working relationships with colleagues and clients, and manage multiple priorities in a fast-paced environment.
• Excellent oral and written communication skills.
• Client-focused, proactive and results-oriented.