Zions Bancorporation

    Coming together for compliance and compensation

    Ensuring multiple departments are aligned to meet federal regulations can be a difficult task for any organization. To meet the changing requirements placed by government while consolidating its teams, Zions Bancorporation transformed its internal approach for its incentive compensation processes and reporting.

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    The Challenge

    After the financial crisis of 2008, Zions Bancorporation needed a flexible, efficient system that was able to centralize how they track incentive payments and provide approvals for payments in order to adhere to new, and ever-changing, federal regulations.

    The Transformation

    In a heavily regulated industry, staying compliant is essential. Over the last decade, Varicent has helped Zions Bancorporation manage their complex incentive compensation plans while maintaining compliance.

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    “Despite having constrained resources, Varicent has allowed us to communicate with different teams and business partners effectively. It has also allowed us to meet the demands of regulations with the flexibility to change our reporting styles based on new requirements.”

    Stephen Diederich
    Incentive Compensation and Governance Manager, Zions Bancorporation

    The Results

    Improve collaboration

    across multiple departments

    Increase efficiency

    with a customizable solution

    Reduce risk

    by ensuring compliance

    About

    Zions Bancorporation is a bank holding company headquartered in Salt Lake City, Utah. It is one of the nation's premier financial services companies. The company is a national leader in small business administration lending and public finance advisory services.

    Industry

    Banking

    Geography

    North America

    Size

    Enterprise (6,000+)

    Solution

    Varicent ICM

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    Varicent ICM offers best-of-breed scalability, flexibility and self-service capabilities, empowering organizations to use their compensation plans as a critical tool to improve their go to market strategy.

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