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Compensation Consultant I - Regional Banking

Job Description:At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!Job Description:Fully functioning non-supervisory position responsible for providing diverse analytical support to the design and development of compensation products that support the strategy for assigned businesses, executives or international clients. May directly consult with business managers in the development of these products.Responsibilities:• Provide diverse analytical and quantitative leadership and support for the design, development and execution of compensation projects, initiatives, and processes• Partner with other members of the Compensation team to lead projects and workstreams• Translate business requirements into processes and programs that will meet business needs, relying on strong analytic and quantitative analysis• Compile, create and summarize/analyze data clearly and concisely to help drive fact-based decision making• Operate in a matrix environment supporting multiple constituencies across GTO & Staff Support CompensationRequired Qualifications:• Minimum 2 years of Compensation experience or successful performance in a role with strong analytical focus• Data/quantitative analysis experience and strong analytical and problem-solving skills – experience gathering, organizing, analyzing, and presenting large amounts of data clearly and concisely to help make fact-based decisions, inclusive of data mining and ad-hoc reporting• Have strong MS EXCEL skills (familiar with complex pivot tables, data filtering, lookups)• Demonstrate experience creating high impact presentations utilizing PowerPoint and the ability to clearly “tell the story” with complex underlying data; be able to analyze present-state, and develop alternative future-state approaches• Have a project/program management background and the ability to prioritize tasks and manage multiple projects with a strong attention to detail• Demonstrate the ability to handle confidential information with discretion• Demonstrate a business-centric mindset with the ability to utilize sound judgment and tailor approach to drive optimal business outcomes• Be a demonstrated self-starter and a results-oriented professional who can develop and manage relationships across multiple groups• Be a team player and display a strong work ethic• Demonstrate the ability to develop a comprehensive understanding of Compensation issues and priorities; effectively analyze and diagnose problems; provide clear advice and recommendations to help make sound business decisionsDesired Qualifications:• Familiarity with Bank of America HR Systems• Experience with Compensation analyticsSkills:• Analytical Thinking• Attention to Detail• Benchmarking• Compensation Analysis• Research• Budgeting• Data and Trend Analysis• Financial Management• Consulting• Presentation Skills• Reporting• Strategic ThinkingShift:1st shift (United States of America)Hours Per Week:40
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$80000K

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What You Should Know About Compensation Consultant I - Regional Banking, Bank of America

Join Bank of America as a Compensation Consultant I in Charlotte, NC, where you’ll contribute to making financial lives better through dedicated service and innovative compensation strategies. In this fully functioning, non-supervisory role, you’ll be responsible for providing analytical support to design compensation products that align with our business strategies. Your work will touch a variety of initiatives as you partner with team members, translating complex business requirements into processes that deliver real value. Each day, you’ll compile and analyze data, presenting insights that drive impactful decision-making. Your strong analytical skills and attention to detail will be crucial as you navigate a matrix environment that supports multiple stakeholders. Plus, we prioritize a diverse and inclusive workplace, so you’ll be part of a team that values your unique perspective. At Bank of America, we’re committed to investing in your career development, allowing you to learn and grow within a supportive community. If you're a results-oriented, self-starter with a knack for data analysis and project management, we want to hear from you to help us lead the charge in responsible growth!

Frequently Asked Questions (FAQs) for Compensation Consultant I - Regional Banking Role at Bank of America
What are the responsibilities of a Compensation Consultant I at Bank of America?

As a Compensation Consultant I at Bank of America, your main responsibilities will involve providing diverse analytical support in the design and development of compensation products. You’ll partner with team members to lead projects, translate business needs into effective processes, and analyze data to inform decision-making.

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What qualifications do you need to become a Compensation Consultant I at Bank of America?

To qualify for the Compensation Consultant I position at Bank of America, you should have at least 2 years of compensation experience or relevant analytical background. Strong MS Excel skills, the ability to create impactful presentations, and a project management background are also essential to succeed in this role.

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What skills will help you succeed as a Compensation Consultant I at Bank of America?

Success as a Compensation Consultant I at Bank of America requires strong analytical thinking, attention to detail, and excellent data interpretation skills. Additionally, effective communication and relationship management are vital for collaborating with multiple constituencies and driving optimal business outcomes.

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How does Bank of America support career growth for Compensation Consultant I?

Bank of America is dedicated to your career growth as a Compensation Consultant I. The company offers a variety of professional development opportunities, encouraging you to learn and progress in your role while contributing positively to the community.

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What is the work environment like for a Compensation Consultant I at Bank of America?

The work environment for a Compensation Consultant I at Bank of America is collaborative and dynamic. You'll work in a matrix structure, interacting with various teams and stakeholders, fostering an inclusive atmosphere that values diverse perspectives.

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Common Interview Questions for Compensation Consultant I - Regional Banking
Can you discuss your experience with data analysis as a Compensation Consultant I?

In answering this question, focus on specific examples of how you’ve successfully gathered, organized, and analyzed data to inform compensation decisions. Highlight your analytical skills and the outcomes of your work.

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What strategies do you use for effective project management?

Discuss your approach to managing multiple projects, including time management skills and prioritizing tasks. Illustrate this with examples of past projects where you successfully met deadlines.

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How would you ensure confidentiality while handling sensitive compensation information?

Emphasize your understanding of confidentiality protocols and share instances where you’ve handled sensitive information responsibly, showcasing your commitment to ethical standards.

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What makes you a good fit for the Compensation Consultant I position at Bank of America?

Provide a brief summary of your qualifications, experience, and skills relevant to the job, and articulate your enthusiasm for aligning with Bank of America's mission and values.

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Describe your experience with MS Excel in relation to compensation analysis.

Share specific tasks you've completed using Excel, such as data filtering or creating pivot tables, that demonstrate your proficiency and analytical capabilities.

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How do you approach providing recommendations based on your data analysis?

Discuss your methodology for interpreting data and formulating recommendations. Use examples to illustrate how your analytical approach has led to effective compensation strategies in previous roles.

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Can you provide an example of a time you collaborated with a team on a compensation project?

Describe a relevant team project where you played a key role, emphasizing how you communicated and collaborated with teammates to achieve successful outcomes.

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What tools or systems have you used in compensation analytics?

Discuss the software tools or HR systems you are familiar with, including any relevant experiences that highlight your technical skills and adaptability.

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How do you handle competing priorities in a fast-paced environment?

Explain your techniques for quickly assessing priorities and your decision-making process for determining which tasks to tackle first, demonstrating your ability to thrive under pressure.

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What do you think are the key trends in compensation today?

Your answer should reflect your knowledge of current compensation trends, such as equity considerations, market competitiveness, or the role of technology in compensation analytics, demonstrating your industry awareness.

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Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk ma...

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Full-time, on-site
DATE POSTED
December 22, 2024

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