Senior Compensation Analyst

OceanFirst Financial Corp.•Toms River, NJ

66d

About The Position

The Senior Compensation Analyst performs various duties to help ensure current compensation practices are in line with the Bank's compensation philosophy. Responsibilities include the effective development and implementation of compensation programs including annual market benchmarking, annual merit-based increases, short-term incentives, base pay structure administration and other departmental initiatives. The Senior Compensation Analyst's responsibilities include turning data into knowledge, and further analyzing and interpreting trends and results. As a member of the HR Team, this position will also provide ongoing service and support to the entire HR Department, as well as Management and the employee population.

Requirements

Aptitude for data manipulation and analysis with the capability to translate large amounts of data into insightful information that is consumable at an executive level.
Strong analytical and technical skills with superior aptitude for numbers.
Strong technological/computer-based skills. Advanced MS Suite experience required, especially utilization and manipulation of MS Excel.
Professional writing skills are valuable; position will assist in writing job descriptions.
Demonstrated ability to work effectively in a team environment, including interaction with senior management and collaboration with peers, is essential to success in this role.
Excellent interpersonal and influencing skills to establish trust, credibility, and rapport at all levels of the organization
Ability to handle sensitive and confidential information appropriately.
Highly detailed and organized.
Proven ability to handle multiple competing priorities while maintaining attention to detail in a rapidly changing business environment.
Reliable, dependable and maintains a high degree of flexibility.
Bachelor's Degree or equivalent; education in Business Administration, Accounting or Finance preferred.
5 to 7 years' experience in related field and/or Accounting or Finance.
Experience with compensation modeling tools.

Nice To Haves

Experience in banking environment is strongly preferred.

Responsibilities

Assists in the analysis, design, and administration of employer compensation programs, including base pay, incentive pay, and performance management programs.
Maintains all job descriptions including pay grades, position titles and business structure. Ensures job descriptions are written and/or updated according to established format. Maintains centralized electronic job description library.
Maintains/updates salary ranges, job codes, grades, and bonus targets and guidelines; partner with HR Business Partners and HRIS to ensure accuracy of compensation data in ADP.
Extracts, analyzes and reports wage and salary information from electronic database systems.
Serves as a subject-matter expert on compensation-related projects and provides support to HR colleagues on compensation philosophy, policies, programs, and processes.
Participates in applicable salary surveys ensuring accurate and timely data submission. Analyzes salary survey data evaluates market trends and makes recommendations regarding organizational salary adjustments, merit budgets, and structure adjustments (including geographic structures)
Identifies and recommends improvements and efficiencies around compensation processes and programs
In conjunction with the Assistant Corporate Secretary prepare CD&A and reporting for the annual Proxy.
Assists with requests for pay adjustments ensuring requests comply with current compensation policy.
Assists in the Annual Budget -- gathering and manipulating data for Bank-wide salary budget and the HR Department budget.
Builds a consultative and collaborative relationship with HR Business Partners and business leaders to build understanding and effective delivery of OFB's compensation programs and processes.
Provides ongoing job benchmarking, compensation survey assessment and analysis, and competitive market intelligence and insight to Talent Acquisition and HR Business Partners
Partners with HR colleagues and internal clients to understand business needs, job requirements, and organizational design to evaluate jobs.
Assists in annual audit procedures -- both internal and external.
Manages the annual incentive process including tracking employee transfers, salary adjustments, performance scores all integrated into the overall incentive calculation through bonus payment.
Manages entire LTI process from annual grant awards, distribution of award agreements, and vesting processes.
Tracks Bank's shares available, calculate quarterly dividends and payments post vesting.
Manages the annual firmwide Total Compensation Statement process.
Prepares and presents analytical analysis on project status and timelines.
Ensures overall project quality control from beginning to end.
Assists with the automation of manual processes to increase operational efficiency, reduce financial and management reporting risk, and increase financial and management reporting accuracy.
Coordinates with vendors if necessary.