Compensation Analyst

Job Summary

The Compensation Analyst administers, analyzes, and continuously improves the Bank's compensation programs. The position's primary duty consists of non-manual office work related to the Bank's management policies and general business operations, including compensation analytics, compensation administration, incentive plan governance, risk assessment, regulatory compliance, and audit readiness.

Responsibilities

• Maintain and support the organization’s job architecture, compensation framework, salary structures, and job classification system.
• Analyse, prepare, update, standardize, and archive job descriptions to ensure alignment with actual duties, organizational needs, and approved templates.
• Lead ongoing cleanup and standardization of the job description library and job title inventory to improve consistency, format quality, identify outdated, inconsistent, duplicative, or noncompliant content and coordinate needed revisions with HR and business leaders.
• Partner with HR leadership and business stakeholders on compensation matters, including new positions, job changes, pay recommendations, internal equity, new hire rates, and wage and hour questions.
• Conduct complex job analysis, evaluation, and leveling to support appropriate classification and compensation decisions.
• Maintain market-pricing tools and compensation databases, ensuring data accuracy, timely updates, and effective reporting capabilities.
• Perform market pricing and benchmarking for new and existing roles using external salary survey data and compensation tools.
• Participate in annual and ad hoc compensation surveys, including data preparation, validation, submission, and follow-up with survey vendors.
• Develop, analyze, and deliver recurring and ad hoc compensation and HR reports on a timely and accurate basis.
• Ensure the accuracy, consistency, and integrity of compensation data across HR systems, reports, and related platforms.
• Administer and support incentive compensation plans, including plan documentation, eligibility tracking, payout validation, communication materials, distribution through the HRIS system, and ongoing process improvements.
• Maintain governance documentation for incentive compensation programs, including plan controls, audit support materials, risk assessments, approval workflows, and traceability matrices to support continuous audit readiness.
• Conduct compensation analyses, modeling, and reporting to support incentive plan design, administration, payout review, internal equity, market competitiveness, budget impact, and leadership decision-making.
• Develop and maintain incentive compensation dashboards, metrics, and recurring reports to monitor plan performance, participation, payout trends, budget impact, exceptions, and compliance-related indicators.
• Support incentive plan audits by preparing documentation, validating data, researching discrepancies, coordinating responses, and recommending corrective actions as needed.
• Aid in maintaining compensation procedures, documentation, and standard operating procedures to support policy compliance and operational consistency.
• Support compliance with applicable federal, state, and local laws and regulations, including the FLSA, ACA, ERISA, California wage and hour requirements, and pay equity laws.
• Support special projects and other assignments from HR leadership, including administration and distribution of incentive plan documents and template updates.

Compliance Responsibilities

• Complies with all applicable state and federal banking laws, regulations, and internal policies related but not limited to lending, operations, and deposit requirements, including Bank Secrecy Act (BSA), Anti-Money Laundering (AML) requirements, Office of Foreign Assets Control (OFAC) regulations, Customer Identification Program (CIP) requirements, Financial Elder Abuse reporting laws, Sexual Harassment prevention policies, information security and privacy requirements.

Required Knowledge

• Working knowledge of compensation principles, market pricing, job evaluation, salary structures, and pay administration practices.
• Knowledge of applicable compensation laws and regulations, including the FLSA and California wage and hour requirements.
• Advanced analytical and technical skills, including strong Excel proficiency such as formulas, lookups, data analysis, and reporting.
• Experience with HRIS platforms such as ADP or similar systems.
• Proficiency in Microsoft Office applications, including Excel, Word, PowerPoint, and Outlook.

Education and Experience

• Bachelor’s degree or an equivalent combination of education and relevant experience.
• 4+ years of compensation, analytics, or closely related experience.

Equipment Operated

• Operates standard electronic computers and customary office equipment required to perform essential job functions.

Physical Requirements & Work Environment

• Ability to perform repetitive movements associated with office and computer-based work.
• Ability to sit and or stand for extended periods of time to perform essential job functions.
• Ability to lift, carry, or move objects weighing up to 25 pounds, with or without reasonable accommodation.
• Ability to use hands and fingers to manage, manipulate, or feel objects and operate standard office equipment.
• Work is primarily performed in an office environment with a controlled temperature and standard office conditions.

Disclaimer

• This job description is intended to describe the general nature and level of work being performed and is not intended to be an exhaustive list of all duties, responsibilities, or qualifications. Employees may be required to perform other duties as assigned, consistent with business needs and applicable law.
• Farmers and Merchants Bank of Long Beach reserve the right to modify, amend, or discontinue job duties or requirements at any time.
• Nothing in this job description creates a contract of employment, either express or implied, or alters the at-will nature of employment.