Senior Compensation Analyst Job Description

Senior Compensation Analyst Job Description

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Senior compensation analyst provides support for the Company’s HR system of record (Workday) by working with the business and HRIS staff.

Senior Compensation Analyst Duties & Responsibilities

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

Sample responsibilities for this position include:

Conducting analysis of jobs in order to evaluate and recommend adjustments required to maintain internal equity, external competitiveness, and legal compliance of the organization's pay practices while maintaining optimal data integrity
Reviewing, validating and maintaining all job descriptions thru the Healthcare Source Performance Management system
Administering the annual performance appraisal program thru the Healthcare Source Performance Manager systems
Educate business partners on compensation practices and regulatory requirements (minimum wage, FLSA guidelines)
Reviewing salary increases in compliance with organization policy and budget
Making recommendations regarding salary grades and pay rates for specific jobs
Assisting in the development of incentive programs
Assigning and entering all job related data in the Ultimate Software system
Partnering with HR and management in the development of job descriptions
Auditing jobs for content and preparing job descriptions reflecting accurate job functions and requirements

Senior Compensation Analyst Qualifications

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

Licensing or Certifications for Senior Compensation Analyst

List any licenses or certifications required by the position: CCP, PHR, SPHR, SHRM, HR, CEBS, GRP, CPP, CP, HRIS

Education for Senior Compensation Analyst

Typically a job would require a certain level of education.

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

Skills for Senior Compensation Analyst

Desired skills for senior compensation analyst include:

Excel
Practices
Federal and state regulatory requirements
Federal
Bargaining Unions
HRIS systems
Healthcare
Principles
Working in higher education
Workday

Desired experience for senior compensation analyst includes:

Demonstrates high integrity in maintaining sensitive data
Bachelor's degree and 5+ years of relevant experience (or an equivalent combination)
PHR, SPHR, CCP or advanced degree (desired)
Administers base pay strategies, policies and programs including job evaluation, market pricing, salary surveys, annual salary planning and administering the merit pay program to ensure adherence with established philosophy and policies
Participate in compensation surveys conducted by third party survey sources
Research, analyze, develop and recommend compensation procedures, processes and programs

Senior Compensation Analyst Examples

1

Senior Compensation Analyst Job Description

Job Description Example
Our growing company is looking to fill the role of senior compensation analyst. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for senior compensation analyst
  • Focus on various compensation related activities and projects
  • Design and develop compensation plans support existing base salary and incentive programs Supports the design, administration and delivery of employee compensation plans to ensure competitive positioning and cost effectiveness in order to attract, retain and reward Associates
  • Participate in complex compensation projects and provide guidance and support to other Analysts
  • Key team member of the Compensation team in the support of the design and implementation of the organization's compensation strategy
  • Partner with external vendors and internal business partners to perform the daily administration of compensation programs
  • Drive the continued development of an online compensation system to assist managers with year-end compensation planning
  • Assist with the review and banding of positions across the organization to ensure consistency and fairness
  • Partner with Finance and Payroll departments to perform monthly reconciliation of activity related to all compensation programs
  • Partner with HR on compensation-related issues
  • Ensure timely, ongoing communication to employees of all aspects of our compensation programs
Qualifications for senior compensation analyst
  • Administer the market pricing and salary management system, including security, database management, testing and implementation
  • Assist departments in the design of new variable pay plans or revision to existing plans
  • Must have a minimum of 5 years of progressive compensation experience
  • Leading job evaluation processes in support of HR Business Partners and business clients
  • Leading participation in external compensation surveys
  • Partnering closely with HRIS team and Payroll team to provide necessary information regarding compensation changes and bonus payouts
2

Senior Compensation Analyst Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of senior compensation analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for senior compensation analyst
  • Roll forward quarterly amortization and vesting files
  • Updating files for any accelerations/forfeitures that occur during the quarter
  • Making sure employees address is correct/make any needed updates across all three companies in BAML
  • Providing details of upcoming vest to payroll team prior to vesting
  • Providing initial report to payroll team to confirm taxes are correct
  • Approving all vestings and sending out a final report
  • Reconciling shares in BAML against AST statements
  • Updating capacity schedule with any activity that occurs
  • Tracking Executives stock activity across the three companies
  • Update the commissions system for new hires, terminations, and other headcount movement
Qualifications for senior compensation analyst
  • Ability to blend compensation philosophy, best in class compensation methods/programs, and business realities
  • 3-5 years of strong financial analysis experience related to sales compensation including strong knowledge of compensation design
  • Excellent skills in problem solving and ability
  • Self-driven and strategic in thought processes to draft recommendations and conclusions after analyzing data
  • Must have the ability to understand interdependencies of compensation and reward programs
  • Demonstrated experience building relationships and working with multiple clients on large, complex projects, including independently identifying client needs and expectations
3

Senior Compensation Analyst Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of senior compensation analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for senior compensation analyst
  • Analyze current compensation programs, policies and practices
  • Guides and coaches compensation analysts on compensation responsibilities
  • Serves as point of escalation for complex compensation issues
  • Plans, executes and leads compensation team projects requiring analysis of factors that cross organizational lines and impact multiple organizational units
  • Recommends, conducts and participates in assigned salary surveys in order to understand competitive compensation levels in the organization
  • Completes job evaluation studies and ensures that job descriptions on file are current, complete and accurate
  • Assures through audits, analysis and reports, that all organization compensation programs are consistently administered in compliance with company policies and government regulations
  • Designs, implements and communicates a wide variety of compensation and salary administration programs
  • Manage the master pay scale library, store lists, program documentation, salary administration guidelines, and additional databases to support and advance compensation program development
  • Monitors the effectiveness of existing compensation policies, guidelines and procedures implementing plan revision new plans which are cost effective and consistent with compensation trends and corporate objectives
Qualifications for senior compensation analyst
  • Possess high level of integrity
  • Lead improvement efforts
  • Completes glass ceiling analysis of Affirmative Action plans and other salary and compensation reports when needed
  • Responsible for maintaining of job descriptions
  • Bachelor’s degree in Finance/Accounting, Human Resources, Management, or related field
  • 2-3 years of directly related compensation analysis experience
4

Senior Compensation Analyst Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of senior compensation analyst. 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 senior compensation analyst
  • A broad knowledge of principles, practices, and procedures related to analytics, incentives compensation theory
  • Proactively identify opportunities to redefine and streamline processes, partnering with key stakeholders to develop and implement change and recommend best practices
  • Document internal pay practices to publish management guidelines for compensation actions
  • Working knowledge of Microsoft business applications with advanced skills in PowerPoint and Excel (must be proficient with pivot tables, V-look-ups, and other functions and formulas for data analysis and reporting)
  • Develops and maintains compensation policies, procedures, job codes, to ensure program, system accuracy, and consistency
  • Administers incentive plans, salary structures and merit programs
  • Coordinates and supplies supporting documentation for annual proxy, internal and external audit compliance
  • Lead, and/or collaborate with the compensation team on, a variety of annual programs that potentially include annual salary planning, annual bonus data validation, market pricing and salary structure review, long-term programs administration, equity design and administration, SEC 10k filing support, or other compensation related programs
  • Lead, and/or collaborate with the compensation team on, a variety of projects, including program redesign, ad-hoc analysis, policy reviews, cross-functional project teams, and implementation of new programs
  • Works with HRIS and IT staff to ensure that the SAP system meets compensation needs and is updated to reflect changes to salary structures, bonus programs
Qualifications for senior compensation analyst
  • 5+ years compensation analysis experience
  • Degree in Finance, Economics, Accounting or equivalent, and a minimum of 18 months experience as a banking analyst or equivalent
  • Required knowledge includes banking, investments, basic accounting and basic insurance
  • Required skills include computer software, analytical, problem-solving, effective communications, negotiations and leadership
  • Must be a team player with a high degree of attention to detail and the ability to handle stressful situations
  • Ability to effectively interact with a wide range of people including Sr
5

Senior Compensation Analyst Job Description

Job Description Example
Our growing company is looking to fill the role of senior compensation analyst. 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 senior compensation analyst
  • Ensure accuracy of compensation information in HRIS system
  • Project leader for major compensation initiatives
  • A preferred candidate has been identified for this position
  • Build relationships with HR Business Partners to provide day-to-day consultation on salary and short-term incentive matters
  • Lead year-end merit and bonus processes for 1,200+ global corporate staff
  • Conduct complex analyses
  • Conduct the job analysis and job documentation processes which includes the creation of job descriptions and establishing proper FLSA determinations
  • Cultivate relationships with the HR Business Partners so as to collaborate proactively on all compensation related issues
  • Provide guidance to Compensation Analysts, as needed, in order to assist them in being successful
  • Interface with technology vendors to resolve operational issues
Qualifications for senior compensation analyst
  • Demonstrated ability to work with confidential information and use discretion
  • Bachelor’s degree in a related field and 5+ years of broad compensation, benefits, or HRIS analyst experience required
  • BS/BA degree in Business, Finance, Accounting, HR, or related field
  • Experience in working with human resource information systems strongly preferred
  • 5 plus years of compensation experience including compensation incentive analysis experience, administration and design experience
  • Able to plan, prioritize and manage multiple, high-visibility projects and initiatives

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