Compensation Associate Job Description

Compensation Associate Job Description

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Compensation associate provides support on compensation projects including but not limited to - compensation policies and practices, compensation content delivery and refresh.

Compensation Associate Duties & Responsibilities

To write an effective compensation associate job description, begin by listing detailed duties, responsibilities and expectations. We have included compensation associate job description templates that you can modify and use.

Sample responsibilities for this position include:

Support Global Compensation Consultants in delivering upon all aspects of our compensation programs
Partner closely with HR Talent Analytics Team to ensure all compensation reports are completed timely with proper review and signed-off
Develop an understanding of the business and partner in identifying compensation solutions that drive outcomes in support of business objectives
Assess market competitive positions and formulate pay recommendations to meet business needs
Provide analytical support regarding the development, design, and maintenance of compensation programs including, salary structures, short-term, and long-term incentives
Analyze and develop recommendations for programs to support various lines of business in meeting their objectives and to insure a strong pay for performance compensation philosophy
Provide support to other team members on compensation-related initiatives and projects as needed
Work with senior business leaders and HR partners to understand business drivers and translate these into pay programs that both meet business needs and align to overall corporate philosophy
Perform impact analyses and prepare special analyses, studies, and recommendations on subjects such as pay policies, incentive/sales compensation, bonus plans, recognition programs, and retention agreements
Serve as SME on FLSA and other wage and hour related laws

Compensation Associate Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Compensation Associate

List any licenses or certifications required by the position: CCP, PHR, HCM, CEP, CECP, CEBS, CPA, GPHR, SPHR, CP

Education for Compensation Associate

Typically a job would require a certain level of education.

Employers hiring for the compensation associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Finance, Human Resources, Accounting, Business/Administration, Education, Economics, Mathematics, Statistics, Associates

Skills for Compensation Associate

Desired skills for compensation associate include:

Legal liability
But not mandatory
Insurance coverage and medical terminology helpful
Excel
Access
Customer service drivers and the ability to resolve customer issues
Domestic Compensation practices
Needs and concerns independently
PowerPoint
PeopleSoft and experience with Business Objects

Desired experience for compensation associate includes:

CCP - Certified Compensation Professional or PHR or SPHR
5 years of experience in Compensation in banking or financial services
Understanding of compensation-related laws and regulations
Experience evaluating markets and trends affecting pay practices and translating these into relevant solutions
At least 3 years’ experience in HR, Compensation, Benefits, Legal, Audit, or Risk Management
1 year experience understanding business economics and ability to translate into programs that drive desired behaviors

Compensation Associate Examples

1

Compensation Associate Job Description

Job Description Example
Our innovative and growing company is hiring for a compensation associate. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation associate
  • Collecting and processing timesheets for Non-exempt employees
  • Preparing journal entries at a cost center level to capture payroll, incentive compensation and stock based compensation activity
  • Interfacing with third party administrators to transmit payroll data to external vendors on a semi-monthly basis
  • Provides administrative support to the Compensation department
  • Administers, clarifies, writes, and provides maintenance on job descriptions
  • Performs data entry into the HRIS system to support the administration of the Position Management system
  • Participate in efforts to ensure core compensation framework is updated regularly and remains market competitive
  • Actively participate in the development of reporting tools
  • Generate ideas to improve project processes and the final product provide recommendations for possible solutions to reported issues
  • Reporting and accounting, both internally to external authorities
Qualifications for compensation associate
  • Proficiency with strong analytical skills
  • 1 year experience structuring technical work
  • 3+ years of Compensation and Operations experience
  • 5+ years of Ohio Workers’ Compensation Defense experience
  • Experience and comfort handling a high volume practice
  • Contribute to the analysis of regional regulatory compensation requirements and the development of policies, tools and techniques to ensure compliance
2

Compensation Associate Job Description

Job Description Example
Our innovative and growing company is looking for a compensation associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compensation associate
  • Conduct job evaluation and review of new and/or existing roles
  • Collect and organize data for analysis
  • Administers day-to-day and quarterly processes and transactions related to the company’s stock plan
  • Consult on compensation matters with Human Resource Consultants and Senior Director / VP level business leaders
  • Support reporting and analysis for compensation programs
  • Assist with planning, support and communication for the year-end compensation process
  • Provide support for sales / formulaic incentive plans
  • Provide support for executive compensation programs
  • Assist with survey participation and the preparation of market competitiveness analyses
  • Collaborate with HR Business Partners and Generalists to provide input and guidance on new hires, promotions, job evaluations, and other compensation matters
Qualifications for compensation associate
  • At least 2 Years of experience in compensation, financial analysis, operations analysis, business analysis or accounting
  • Demonstrated ability to write summary interpretation reports
  • Ability to manage a range of projects and work autonomously under pressure to tight deadlines
  • Able to work in an environment of change, adapting quickly to changing requirements and focus
  • Financial Services sector experience would be preferable
  • College degree or equivalent professional work experience
3

Compensation Associate Job Description

Job Description Example
Our company is growing rapidly and is looking for a compensation associate. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation associate
  • Assist with planning, administration and communication for the monthly and quarterly Incentive Compensation plans, including summary reporting to Senior Management
  • Collaborate with HR Business Partners to provide input and guidance on compensation matters
  • Assist with ongoing compliance with incentive compensation regulatory requirements globally, including incentive compensation policies and procedures and risk balancing
  • Administer Encore employee recognition program including special recognition programs that occur throughout the year ad-hoc reporting
  • Provide analytical support to Commercial Bank line of business (LOB) compensation consultants
  • Support LOB compensation plan administration, development, analysis, and approvals
  • Support mid-year and year-end pay programs and related analytics
  • Manage daily compensation-based requests as needed for multiple Commercial client groups
  • Conduct market assessments on an as-needed basis
  • Support LOB compensation projects, processes, and reporting
Qualifications for compensation associate
  • Lifting, sitting, walking, standing normal office hrs/day
  • Solid analytical and problem solving skills ability to manage multiple tasks simultaneously to successful completion
  • At least 2 years of experience in Compensation, or at least 2 years of experience in Finance, or at least 2 years of experience in Analytics, or a combination of the three
  • At least 4 years of experience in Compensation, at least 4 years of experience in Finance, or at least 4 years of experience in Analytics, or a combination of the three
  • At least 2 years of experience in a client consulting role
  • Ability to meet tight deadlines and work in a fast-paced, rapidly changing environment
4

Compensation Associate Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of compensation associate. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for compensation associate
  • Running reports on a regular and ad-hoc basis to support compensation analysis, financial and headcount reports
  • Completing complex tax projects, participating in engagements requiring tax analysis/modeling for a variety of entities, providing tax & business advice in regards to complex transactions, and tax research & writing
  • Prepare tax calculations and various analyses/models to help clients make better informed compensation decisions and comply with the applicable rules and regulations
  • Benchmark compensation and develop reports to support the compensation recommendations
  • Design long-term incentive awards while considering the tax, accounting, and other regulatory ramifications
  • Research emerging issues and areas, such as healthcare legislation and new SEC requirements, in order to keep our clients up to date on the ever-changing regulatory environment
  • Participate in client meetings and collaborate with colleagues
  • Work on mergers and acquisitions, including performing complex tax calculations for target companies and their executives
  • Draft technical memorandums and letters related to compensation & benefits issues
  • Team with other colleagues and participate in client meetings
Qualifications for compensation associate
  • Solid organizational skills and ability to meet deadlines
  • Ability to develop and manage relationships with employees at all levels
  • Must be self-directed, consultative, able to meet deadlines, work independently, work in a diverse team-oriented, professional, and fast paced environment
  • Excellent communication skills, including the ability to present briefings to senior management
  • Knowledge of Organizational Development (OD) processes, issues and considerations
  • One (1) to two (2) years of prior business experience preferred
5

Compensation Associate Job Description

Job Description Example
Our growing company is looking to fill the role of compensation associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compensation associate
  • Phone contact with customers and other parties to the loss is required to confirm coverage, compensability, and severity of injury
  • Implement and coordinate the most effective medical management techniques to mitigate loss and expense payments
  • Participate in compensation surveys to collect and analyze compensation information
  • Perform basic analysis on compensation programs
  • Lead small portions of compensation related project in collaboration with team members to gather requirements, analyze system capabilities and solutions, and execute improvements
  • Develop and update training and communication materials
  • Coordinate manager training on compensation related topics
  • Lead Commercial Operations Incentive Compensation, from plan design through execution across US Region, working closely with Sales Management and Business Leaders to advise on plans to attract, retain and motivate sales teams
  • Drive process and policy harmonization (with BU leaders) to reduce variation and complexity of plans, to simplify administration and minimize manual processes
  • In conjunction with the Sales Operations Leadership Team drive the transformation and formation of the Sales Operations capability within the Commercial Operations
Qualifications for compensation associate
  • At least a Bachelor's Degree or Equivalent Military Experience
  • Prior internship or work-study opportunity preferred
  • At least 3 years experience in HR or at least 3 years experience in Compensation or at least 3 years experience in Benefits or at least 3 years experience in Legal or at least 3 years experience in Audit or at least 3 years experience in Risk Management
  • Advanced in VBA, and/or Advanced in SQL programming
  • 3+ years working with confidential information
  • CPA (or in the process of pursuing) is preferred

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