Job Purpose & ScopeResponsible for developing, implementing, analyzing, and administering compensation programs, policies, and procedures to meet Bank OZK's current and future business needs. Ensures compensation is consistently administered in compliance with applicable Bank policies and federal, state, and local laws and regulations. Collaborates with staff and management to conduct job/competency analysis and develop and maintain job architecture.
Essential Job Functions- Design, implement, and analyze compensation programs including base pay programs, long- and short-term incentives, spot bonuses, commissions, etc. in alignment with company objectives for recruiting, retention, and engagement.
- Lead compensation-related projects and initiatives, ensuring effective planning, execution and communication with key stakeholders.
- Conduct job/competency analysis to develop job families/structures; write, edit, and maintain job descriptions including classifications, essential job functions, minimum requirements, etc.
- Evaluate jobs and benchmark against market data to determine competitive pay ranges.
- Conduct research and analysis on identified markets, pay equity, compensation trends, etc.
- Advise managers and HR staff on pay decisions/requests, including salary offers, that are competitive, ensure pay equity, support employee engagement, and comply with compensation policy and budgetary guidelines.
- Actively participate in the development and maintenance of job architecture and career pathing structures.
- Design and communicate pay structures, grades, budgets, and compensation guidelines.
- Demonstrate proficiency in Microsoft Excel, Power BI and similar tools to conduct modeling, statistical analysis, and costing of base, incentive, and equity pay.
- Identify, analyze and report on HR metrics, providing timely insights to assist in making data-driven decisions.
- Assess and manage compliance and risk related to compensation practices.
- Assist with developing and delivering compensation communication and training.
- Actively participate in the design, implementation, and administration of performance management programs as they relate to compensation.
- Maintain current knowledge of HR-related programs, policies, and procedures, including trends and developments in legal and regulatory matters; ensure programs, processes, procedures, and documentation are compliant with both applicable laws and regulations and company policies and procedures.
- Produce accurate, thorough, and timely work, while meeting commitments and following policies and procedures.
Knowledge, Skills & Abilities- Comprehensive knowledge of compensation design, planning, methodology, and analytics
- Comprehensive knowledge of government regulations, laws, and best practice as they pertain to compensation and job architecture/descriptions
- Knowledge of other functional areas of HR
- Ability to manage multiple priorities and projects, adapt quickly to changing needs, and interact effectively and professionally with all levels of management
- Ability to demonstrate effective negotiation skills, including the ability to persuade and influence decision makers
- Ability to demonstrate effective critical thinking, analytical, and problem-solving skills
- Ability to demonstrate effective time management, project management, and organizational skills
- Ability to demonstrate strong business acumen
- Ability to complete accurate, detailed work and meet exacting deadlines
- Ability to accurately interpret large amounts of data and present such data in an understandable format for others
- Ability to communicate effectively both verbally and in writing
- Ability to provide excellent customer service.
- Ability to work effectively both independently and in a team-oriented environment
- Ability to work without close supervision
- Ability to maintain confidentiality
- Ability to follow policies and procedures and to communicate them accurately to others
- Skill in using computer, Microsoft Office products (i.e., Word, Excel, PowerPoint, Outlook), compensation tools/databases and other HRIS technology
Basic Qualifications- Bachelor's degree, preferably in human resources, business administration, finance or related field, or commensurate work experience, required
- 7+ years' experience developing, implementing, administering, and managing compensation programs, including conducting job/competency analysis, required; or 5+ years' work experience in compensation planning, design, and administration plus 2+ years' experience in a human resources generalist role, including business/data/financial analysis, required
- Demonstrated proficiency in Microsoft Excel required
- Familiarity with various HRIS and compensation technology required
- PHR, SPHR, CCP or other relevant certification preferred
Job ExpectationsOperate customary equipment and technology used in a business environment, with or without accommodation.
Note: This description is not an exhaustive list of all job functions, duties, skills, and job standards required. Other job functions, duties, skills, and standards may be added. Management reserves the right to add or change the job requirements at any time.
