Compensation Analyst - Fair Lawn, NJ

Columbia Bank New Jersey; Fair Lawn (NJ); Hybrid; USD 70,000 - 100,000; Full time

Benefits offered by this job

Medical, Dental, Vision

Bonus programs

Employee Stock Option Program (ESOP)

401k program

Paid Time Off

Paid Sick Time

Bank Holidays

Job summary

Columbia Bank is seeking a Compensation Analyst to support the administration of the Bank’s compensation programs, review job descriptions, conduct salary benchmarking, and prepare monthly and ad-hoc HR reports.

The role collaborates with HRBPs, Talent Acquisition, and leadership to maintain job data, perform job evaluations, support equity awards, audits, and regulatory exams, and ensure compliant, competitive pay practices.

Qualifications

• Bachelor's degree in HR, Finance, or related field.
• 2+ years of compensation analysis experience.
• Experience with salary benchmarking and job evaluations.
• Experience with ADP is required.

Responsibilities

• Develop and maintain bank-wide salary analysis for internal and external equity.
• Complete data collection for annual compensation surveys.
• Support salary structures, pay grades, and compensation guidelines.
• Assist with merit increases, bonuses, and equity awards.
• Prepare reports to support compensation and reporting.

Skills

Analytical skills

Quantitative analysis

Communication

Project management

Confidential information handling

HR policies knowledge

Education

Bachelor's degree

Tools

ADP

Excel

PowerPoint

Visio

Word

Job description

Summary:

The Compensation Analyst is responsible for supporting the administration of the Bank’s compensation programs. Administers and maintains the job data program including the review and evaluation of job descriptions, including salary benchmarking and scoping. Prepares various monthly and ad-hoc reports for the HR Department, Executive Management, and Board of Directors. Participates in internal and external audits as well as regulatory exams. Collaborates cross-functionally to support the HR Department and appropriate bank-wide programs.

Job Responsibilities:

Compensation Administration

• Develop and maintain (at a regular cadence) a bank-wide salary analysis to ensure proper internal and external equity.
• Complete and submit data collection 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 description and organizational data is 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 with ongoing efforts.

Data Analysis and Reporting

• Prepare various reports and analyses to support the compensation, incentive, and performance appraisal programs of the Bank. This may include budget projections and modeling relative to base salaries, bonus programs, merit increases, etc.
• Analyze compensation data to identify trends, discrepancies, and opportunities for development.
• Compile data for AAP on an annual basis and prepare reports for submission to Senior Management.
• Utilize data visualization tools to present findings.

HR Compliance

• Participate in internal and external audits, regulatory exams, evaluations 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.
• Performs other job-related duties as assigned.

Required Qualifications:

• 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.

Core Competencies/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 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.

Columbia Bank offers the following benefits:

• Medical, Dental, Vision and Rx which are 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) which includes Personal and Vacation Time.
• Paid Sick Time.
• Bank Holidays.
• Employees may participate in the 401k program.

Schedule:

Hybrid; 3 days in the office and 2 days work from home based on business need.This arrangement may change without notice.