HR Compensation Analyst

Midland States Bank•Rockford, IL

1d•Hybrid

About The Position

The Compensation & Equity Analyst supports the design, analysis, and administration of compensation, equity, and deferred compensation programs. This role plays a key part in ensuring competitive, equitable, and data-driven pay practices aligned with business objectives. This position is designed for a high-potential individual seeking to grow into broader ownership of compensation programs and contribute to the evolution of Total Rewards.

Requirements

Bachelor’s Degree in the field of Human Resources/Business Administration or equivalent experience.
5+ Years of Experience.
Prior experience with Workday preferred.
Must be able to identify issues and develop approach to solutions with minimal oversight.
Ability to synthesize large amounts of data to produce succinct summaries and trending that support main objectives and communicate effectively to senior leadership.
Skilled at handling sensitive matters effectively to reach amicable solutions.
Works well in a highly collaborative, matrixes organization where relationship building is a key to success.
Knowledge of policies, procedures, initiatives, and fiscal/budget processes related to compensation and benefits.
Effective interpersonal and organizational leadership skills.
Consistently demonstrates a high level of integrity that instills trust in all clients.
Strong oral, written, and interpersonal communication skills.
Strong organization and time management skills.
Strong attention to detail.
Ability to work independently and as part of a team.

Nice To Haves

Competencies: Business insight
Cultivates innovation
Drives results
Makes sound decisions
Being a brand champion
Collaborates
Communicates effectively
Customer focus
Being Authentic
Emotional Intelligence
Self development
Being flexible and adaptable

Responsibilities

Conduct market pricing using survey data (e.g., McLagan, Mercer, Pearl Meyer) and internal benchmarking using cloud-based MarketPay software
Support job evaluations, leveling, and job architecture maintenance
Assist in development and maintenance of salary structures and pay ranges
Support end-to-end annual compensation cycles (merit, bonus, promotions), including data preparation, validation, and analysis
Review and analyze compensation data to identify trends, risks, and opportunities
Partner with HR and leadership to support compensation decisions and recommendations
Support administration of equity programs (RSAs, stock options, ESPP), including tracking grants and vesting schedules
Assist with non-qualified deferred compensation (NQDC) plans, including eligibility tracking and reporting
Coordinate with Finance, Legal, and external vendors on equity and deferred compensation processes
Maintain accurate records and documentation for equity and deferred compensation programs
Support alignment of compensation elements with 401(k) plan definitions
Assist in analysis of bonus and incentive pay impacts on retirement contributions
Partner with Benefits and Payroll to ensure accurate data flow
Support compliance activities including audits, reporting, and documentation
Assist with process improvements and automation opportunities
Participate in HR and cross-functional projects and initiatives
Partner with HRIS on system and reporting needs
Support Payroll for bonus and incentive processing
Partner with Benefits on retirement plan alignment
Collaborate with HR and business leaders to support compensation initiatives
Handles sensitive and complex matters with a high degree of relationship acumen and sophisticated problem resolution skills; can effectively diffuse tense situations.
Develops and documents procedures to streamline processes and ensure compliance with regulatory requirements.
Able to influence and lead without formal authority.
Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
Other duties as assigned.