The Sr. Compensation Analyst is responsible for managing a variety of annual reoccurring compensation projects relating to base and variable pay including merit, incentives, market pricing, and internal equity reviews. The analyst will also perform a review of new and revised positions, data audits, and the development and documentation of procedures to streamline processes and ensure compliance with regulatory requirements. This position also partners with the functional and operational HR team to educate and assist with compensation related issues as well as partnering with HRIS and IT to ensure the HR system meets the compensation department’s needs and is updated to reflect relevant data. The Sr. Analyst may also lead or participate in total rewards projects that support the function or various lines of business and/or perform other related duties, as assigned, or requested.
Essential Duties & Responsibilities:
- Plans, develops, implements, and administers compensation programs to maintain competitive practices.
- Collaborates with compensation team and external partners across the organization to understand business needs and facilitate compensation practices to support the business.
- Partners with HR Business Partners and internal clients to understand business needs, job requirements and organizational design to evaluate jobs.
- Project Manager for reoccurring annual compensation processes or other compensation related projects.
- Compiles, analyzes, and interprets data to support good decision making.
- Develops training and communication materials to educate and ensure understanding of total rewards across the organization.
- Provides compensation consulting to HRBPs and leaders.
- Provides education and guidance to lower-level compensation analysts.
- Provides analysis and migration support for mergers and acquisitions.
- Evaluates positions for salary grading utilizing third party survey sources and internal equity reviews.
- Supports the development of strategy and design of compensation and total reward programs through development and ongoing enhancement of data analytics.
- Acts as liaison to Finance in the review and analysis for compensation audits and accruals.
- Audits data for accuracy and completeness for reports and files used internally and those submitted to payroll (incentives, bonuses, unique situations).
- Conducts and prepares benchmarking for a variety of total reward inquires and projects.
- Compiles and audits executive summaries for compensation projects.
Education and/or Work Experience Requirements
Education: Bachelor’s in business/HR or other related discipline
Experience: 7+ years of experience in finance and/ or compensation with at least 4 years specifically supporting compensation
- Strong attention to detail
- Ability to work independently and make decisions using sound judgment and data analysis.
- Excellent analytical and problem-solving skills with ability to resolve complex administrative and accounting issues.
- Working knowledge of regulatory issues impacting compensation plans.
- Must have excellent oral and written communications skills with the ability to interact effectively with internal customers and external vendors.
- Strong Excel (pivot/VLOOKUP/statements)
- 7+ years previous compensation experience
- International compensation experience
- Preferred Certified Compensation Professional (CCP)
- Experience with HR and compensation systems/tools
- Experience in a financial analyst capacity
- Strong analytics experience with customer service lens/orientation
Self Confidence: Must be able to present self well in front of large audiences, management of external consultants and vendors.
- Service Orientation: Must possess the highest level of service orientation to ensure regulatory needs are met.
- Influence: Must be able to demonstrate ability to manage by influence across the organization.
- Teamwork: Must be able to work as part of a team with HR business partners, finance, communications and outside vendors and consultants.