Compensation Analyst - Fair Lawn, NJ

About the Role

Support the administration of the Bank’s compensation programs, including job data management, salary benchmarking, reporting, and compliance. Collaborate cross-functionally to ensure equitable and competitive compensation practices.

Responsibilities

• Compensation Administration
  • Develop and maintain a bank-wide salary analysis to ensure internal and external equity.
  • Complete and submit data 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, ensuring job descriptions and organizational data are up to date.
  • Analyze job descriptions and perform job evaluations (salary benchmarking) to determine appropriate salary grades.
  • Compare jobs to assess grading and leveling within departments across the Bank.
  • Partner with Business Leaders to conduct job evaluations and organizational development.
  • Partner with HRBPs and Talent Acquisition to align pay administration and job evaluation processes.
• Data Analysis and Reporting
  • Prepare reports and analyses to support compensation, incentive, and performance appraisal programs, including budget projections and modeling.
  • Analyze compensation data to identify trends, discrepancies, and opportunities for development.
  • Compile data for Affirmative Action Plans (AAP) annually and prepare reports for Senior Management.
  • Utilize data visualization tools to present findings.
• HR Compliance
  • Participate in internal and external audits, regulatory exams, 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.
  • Perform other job-related duties as assigned.

Requirements

• Bachelor’s degree required.
• Minimum 2 years’ experience in compensation analysis.
• Experience in Human Resources.
• Experience with conducting job evaluations and salary benchmarking.
• Experience with ADP is required.

Preferred Qualifications

• Familiarity with compensation survey data collection.
• Certified Compensation Professional (CCP) or other related certification.

Skills

• Strong analytical and quantitative skills, with proficiency in Excel.
• Excellent written and verbal communication skills.
• Project management skills.
• Organizational and time management skills with the ability to shift priorities.
• High attention to detail and ability to manage confidential information.
• Knowledge of federal, state, and local compensation-related regulations.
• Skilled in PowerPoint, Visio, and Word.

Benefits

• Medical, Dental, Vision, and Prescription coverage (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), including Personal and Vacation Time.
• Paid Sick Time.
• Bank Holidays.
• 401k program participation.

Schedule

Hybrid: 3 days in the office and 2 days remote, based on business need. This arrangement may change without notice.