Compensation Analyst
3 weeks ago
Ryan Specialty is looking for a Compensation Analyst to join our Chicago team. We are a fast-paced, energetic, and rapidly growing organization that offers a great opportunity for someone interested in further developing their career. Ryan Specialty has been named one of America's Most Loved Workplaces by Newsweek and has been named 2023 Top Insurance Employer by Insurance Business America.
Position Summary:
The Compensation Analyst will provide subject matter expertise in designing creative solutions to specific compensation-related programs and will interact closely with internal stakeholders to facilitate compensation-related activities supporting the business goals and objectives. The Compensation Analyst will collaborate with internal peers and leadership to provide a high level of consultative and support services, ensuring programs are effectively implemented. This role will help the benefits team with open enrollment and systems integration.
Essential Functions:
* Prepares and maintains job descriptions for each position in the organization; ensures descriptions accurately reflect the work being performed by incumbents.
* Interviews and surveys employees and managers to gather and document job, organizational, and occupational information including duties, responsibilities, and skills required by each job.
* Assesses jobs and their respective duties to determine classification as exempt or nonexempt and salary range.
* Benchmarks jobs against survey data and other market intelligence to determine competitive compensation ranges for each position.
* Assures through audits, analysis and reports that all organization compensation programs are consistently administered in compliance with company policies and government regulations
* Responsible for monthly reporting and aid with / create reports in SuccessFactors (soon to be Workday), analysis of employee information and create models, reports and dashboards in Excel as needed
* Maintain and create compensation plans, job profiles, positions and key organizational structures in Workday; work closely with HRIS and Payroll to ensure proper set up and testing when necessary
* Assist with creating and updating job descriptions; work with managers and team to ensure accuracy
* Support the Annual Compensation Review process in Workday and added reporting as needed
* Assists with the design, implementation and communication of a wide variety of compensation and salary administration programs
* Participate in User Acceptance Testing activities associated with new or modified systems to ensure systems are properly paying when enhancements/adjustments, new compensation plans, or new agent contracts are implemented
* Works with the HRIS and Payroll Team to ensure updates about compensation-related HR data are in SuccessFactors (soon to be Workday) and ADP
* Support the Compensation Manager with salary surveys, including analyzing survey data and maintaining salary surveys.
* Collaborate on salary quotes for new hires, promotions, transfers, change, and other compensation actions; Analyze internal and external pay equity issues and provide recommendations.
* Develop compensation materials and training to illustrate and communicate compensation-related information
* Assist team in ensuring all compensation related email and phone inquiries are responded to accurately and timely
* Participate and/or lead special compensation projects
Education/Experience/Skills:
* Bachelor's Degree in Business, Finance, Human Resources Management or related discipline
* Minimum of three years of experience in Compensation or Human Resources
* Experience with SAP Compensation Module and knowledge of SAP reporting preferred.
* Advanced knowledge of Microsoft Excel (pivot tables, VLookUp, Macros) and a high level of IT skills
* Customer-service focused and able to interact effectively and professionally with all levels of employees and managers in a team-based environment.
* Exceptional analytical and problem-solving skills, with accuracy and attention to detail
* Ability to manage multiple responsibilities while prioritizing and meeting deadlines with a high level of agility and a sense of urgency in responding to business partners
* Ability to keep strict confidentiality of information and to work autonomously and make independent decisions
Disclaimer
Ryan Specialty is an Equal Opportunity Employer.
Nearest Major Market: Chicago
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