Case Study: U.S. Bank streamlines incentive compensation with OpenSymmetry

U.S. Bank’s Streamlined and Centralized ICM Motivates Employees and Satisfies Regulators

U.S. Bank, the fifth-largest bank in the United States, needed to streamline and centralize incentive compensation management for more than 20,000 employees whose plans were being handled manually in spreadsheets. The bank wanted greater visibility into employee performance, fewer manual errors, and simpler compliance. It partnered with OpenSymmetry to implement an ICM solution.

OpenSymmetry helped U.S. Bank automate and centralize the incentive compensation process, from calculations to reporting, using a centralized dashboard that gave employees transparency into how their commissions were calculated. The result was faster and easier compensation processing, improved employee trust and motivation, and better audit readiness. U.S. Bank also reduced its incentive admin team from 35 people to 8, significantly improving resource utilization.

U.S. Bank

Kimberly Hinrichsen

Senior Director of Incentive Administration