Compensation Analyst

Compensation Analyst

General Summary:

Provides guidance and assistance to management in support of Human Resources programs including annual salary administration, incentive compensation plan administration, salary survey participation, job description maintenance, and market analyses.

Principal Duties and Responsibilities:

Assists in the administration of the Bank’s compensation programs by conducting job evaluations, market pricing, and compensation analyses. Researches and benchmarks positions against external salary data, maintains and updates job descriptions, and analyzes salary survey and market data to develop job grade, salary, and FLSA classification recommendations.

Provides annual budget recommendations for salary administration cycle including merit, equity, promotion and salary structure adjustment data. Coordinates the annual salary administration process for staff including the pay equity analysis and recommendations to close gaps.

Maintains the Benefits and Compensation dashboard to track, analyze, and display key HR metrics that will offer real time insights into workforce trends.

Uses HR technology (ADP/Cornerstone) to prepare reports to collect, analyze, and summarize data and trends. May assist HR Management in testing, identifying and recommending changes/enhancements to systems.

Compiles the data for completion and submission of surveys related to salaries, benefits, and other Human Resources related programs.

Assists with the submission of annual earnings and other information to 401k and pension administrators for annual benefit calculations and discrimination testing.

In collaboration with HR management, oversees the administration of the Incentive Compensation Plans, ensuring the plan documents are updated annually and participant communications occur timely.

Works with the Compensation & Benefits Manager to administer the executive compensation plans and assists in gathering data for board meeting materials with regards to compensation.

Maintains a variety of confidential staff files to ensure records are accurately maintained concerning all relevant aspects of employment. Maintains documentation of procedures related to areas of responsibility.

Provides cross-functional support and serves as backup to the Benefits Analyst as needed.

Performs other duties and completes special projects as assigned.

Minimum Knowledge, Skills and Abilities Required:

Knowledge at a level normally acquired through completion of a Bachelor’s Degree in Human Resources Management or related field of study.PHR and/or CCP certifications desired.

Minimum three years of related Human Resources experience required, preferably with a focus on compensation.Knowledge of Human Resources programs and procedures as they relate to employment and compensation required.Financial industry experience is preferred.

Knowledge of applicable federal, state and local employment laws as they relate to areas of responsibility.

Excellent verbal and written communication and interpersonal skills, with exceptional attention to detail and accuracy; ability to handle sensitive and confidential information while consistently demonstrating professionalism, tact, diplomacy, and sound judgment.

Ability to work independently, prioritize workload, and identify, analyze, and implement solutions. Demonstrates curiosity by asking relevant questions to fully understand issues, proactively seeks resolutions, and makes informed decisions in addressing complex or sensitive matters.

Strong mathematical and analytical skills necessary to develop factual reports or summaries through data gathering, interpretation and compilation of results.

Demonstrated proficiency with a personal computer including intermediate level skills in Excel and Word.

Working knowledge of HRIS highly desired.Experience with ADP and Cornerstone, preferred.

Demonstrates interest in working with a variety of backgrounds and perspectives that align with the Bank’s core value. Promotes an environment of empathy and respect to ensure the inclusion of all team members.

Working Conditions:

Hybrid work environment with the flexibility to meet tight deadlines as required. Minimal travel may be required to attend recruiting and outreach events.

The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities or requirements.