Compensation Analyst

2 weeks ago

Fair Lawn, NJ, United States Columbia Bank Full time
Summary: The Compensation Analyst is responsible for supporting the administration of the Bank's compensation programs. Administers and maintains the job data program including the review and evaluation of job descriptions, including salary benchmarking and scoping. Prepares various monthly and ad-hoc reports for the HR Department, Executive Management and Board of Directors. Participates in internal and external audits as well as regulatory exams. Collaborates cross-functionally to support the HR Department and appropriate bank-wide programs.

Job Responsibilities:

Compensation Administration
  • Develop and maintain (at a regular cadence) a bank-wide salary analysis to ensure proper internal and external equity;
  • Complete and submit data collection for annual compensation surveys;
  • Support the development of salary structures, pay grades, and compensation guidelines;
  • Support all compensation processes including merit increases, bonuses, and salary adjustments;
  • Assist with the administration, delivery, and communication of equity awards.
Job Data Program
  • Maintain the job data catalog and PayScale/Payfactors platform ensuring job description and organizational data is up to date;
  • Analyze job descriptions and perform job evaluations (salary scoping) to determine appropriate salary grades;
  • Compare jobs to assess grading and leveling within departments across the Bank;
  • Partner with HRBPs and Talent Acquisition to align pay administration and job evaluation processes with ongoing efforts.
Data Analysis, and Reporting
  • Prepare various reports and analyses to support the compensation, incentive, and performance appraisal programs of the Bank. This may include budget projections and modeling relative to base salaries, bonus programs, merit increases, etc.;
  • Analyze compensation data to identify trends, discrepancies, and opportunities for development;
  • Utilize data visualization tools to present findings.
HR Compliance
  • Participate in internal, and external audits, regulatory exams, evaluations and compliance reviews related to HR data and processes;
  • Maintain documentation and audit trails for compensation decisions and processes;
  • Assist in the development and communication of compensation policies and procedures.
Stakeholder Support and Communication
  • Collaborate with HRBPs, Talent Acquisition, and other stakeholders to provide compensation guidance;
  • Provide training and support on compensation-related topics.
Other Responsibilities
  • Performs other job-related duties as assigned.
Job Requirements:

Required
  • Bachelor's degree required;
  • 2-4 years' experience in compensation analysis;
  • Experience in Human Resources;
  • Strong analytical and quantitative skills, with proficiency in Excel;
  • Skilled in PowerPoint and Word;
  • Excellent written and verbal communication skills;
  • Project management skills;
  • Organizational and time management skills with ability to shift priorities;
  • High attention to detail and ability to manage confidential information;
  • Knowledge of federal, state, and local compensation-related regulations.
Preferred
  • Familiarity with compensation survey data collection;
  • Certified Compensation Professional (CCP) or other related certification.

Columbia Bank offers the following benefits:
  • Medical, Dental, Vision and Rx which are contributory.
  • Bonus programs.
  • Employee Stock Option Program (ESOP).
  • Life Insurance, Long Term Disability and Accidental Death and Dismemberment (LTD&AD&D).
  • Paid Time Off (PTO) which includes Personal and Vacation Time.
  • Paid Sick Time.
  • Bank Holidays.
  • Employees may participate in the 401k program.

Schedule:

This role is eligible for a hybrid schedule; 3 days in the office and 2 days work from home based on business need.

Columbia Bank and its affiliates is an Equal Opportunity Employer, including individuals with disabilities and veterans.

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