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Compensation Analyst

2 months ago

Little Rock, United States Bank OZK Full time

Job Purpose & Scope:

Responsible for administering and implementing compensation programs, policies, and procedures to meet Bank OZKs 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.

Essential Job Functions:
  1. Administers and implements compensation programs including base pay and merit programs, short-term incentives, commissions, bonuses, stock/equity programs, etc. in alignment with company objectives for recruiting, retention, and engagement.
  2. Actively participates in and completes compensation surveys in a timely and accurate manner.
  3. Conducts research and analysis on identified markets, pay equity, compensation trends, etc.
  4. Maintains accurate compensation data within multiple databases and platforms.
  5. Assists with the evaluation of jobs and market data to determine competitive pay ranges.
  6. Conducts job/competency analysis by collecting accurate information and writing, editing, and maintaining job descriptions, including classifications, essential job functions, minimum requirements, etc.
  7. Assists with and supports the salary and workforce budget process by compiling, organizing, documenting, and disseminating relevant data in an accurate and timely manner.
  8. Assists senior compensation analysts with research, design, implementation and administration of compensation programs.
  9. Advises 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.
  10. Demonstrates proficiency in Microsoft Excel and similar tools to conduct modeling, statistical analysis, and costing of base, incentive, and equity pay.
  11. Assists with the design, implementation, and administration of performance management programs as they relate to compensation.
  12. Maintains current knowledge of HR-related programs, policies, and procedures, including trends and developments in legal and regulatory matters; ensures programs, processes, procedures, and documentation are compliant with both applicable laws and regulations and company policies and procedures.
  13. Produces accurate, thorough, and timely work, while meeting commitments and following policies and procedures.
  14. Regularly exercises discretion and judgment in the performance of essential job functions.
  15. Maintains good punctuality and attendance to work.
  16. Follows Bank policy, procedures, and guidelines.
Knowledge, Skills & Abilities:

  1. Knowledge of compensation administration, planning, methodology, and research

  2. Knowledge of government regulations, laws, and best practice as they pertain to compensation and job architecture/descriptions

  3. Working knowledge of other functional areas of HR

  4. Ability to manage multiple priorities and projects, adapt quickly to changing needs, and interact effectively and professionally with all levels of management

  5. Ability to demonstrate effective critical thinking, analytical, and problem-solving skills

  6. Ability to demonstrate effective time management, project management, and organizational skills

  7. Ability to demonstrate strong business acumen

  8. Ability to complete accurate, detailed work and meet exacting deadlines

  9. Ability to accurately interpret large amounts of data and present such data in an understandable format for others

  10. Ability to communicate effectively both verbally and in writing

  11. Ability to provide excellent customer service

  12. Ability to work effectively both independently and in a team-oriented environment

  13. Ability to work without close supervision

  14. Ability to maintain confidentiality

  15. Ability to follow policies and procedures and to communicate them accurately to others

  16. Skill in using computer and Microsoft Office products (i.e., Word, Excel, PowerPoint, Outlook) and other HRIS technology

Basic Qualifications:

  1. Bachelors degree, preferably in human resources, business administration, finance or related field, or commensurate work experience, required

  2. 2+ years experience administering and implementing compensation programs, including base pay, short-term incentives, stock, salary surveys, etc.

  3. Demonstrated proficiency in Microsoft Excel required

  4. PHR, CCP or other relevant certification preferred

  5. Familiarity with various HRIS and compensation technology preferred

Job Expectations:

Job Expectations:Operate 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.

EEO Statement:

Bank OZK is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, disability status, protected veteran status, or any other characteristic protected by federal, state, and local law. Member FDIC.