6 days old

Compensation Analyst

First Merchants Bank
Daleville, Indiana 47334

Ideally this position will be located in Daleville or Muncie, Indiana; applicants desiring to work in another location within the FMB footprint will also be considered. Other possible work locations include: Indianapolis, Fort Wayne or Lafayette, Indiana; Columbus, Ohio or Monroe, Michigan.

Position Goals:

Develop, manage and propose changes to the compensation structure to optimize talent acquisition and maximize employee retention by analyzing remuneration packages and position responsibilities for market equity.

Direct Management Received:

Under the general guidance of the Director, Benefits. Secondary guidance under direction of Director, HR Shared Services.

Direct Management Exercised:

None

Essential Duties and Responsibilities:

  1. Manage, analyze, interpret, and propose changes and improvements to remuneration policies and programs as defined in Position Administration Manual – PAM, and Line of Business (LOB) defined plans.
    1. Participate in compensation benchmarking and market-pricing, including job matching, preparing survey submissions and analyzing survey results.
    2. Analyze positions to ascertain scope of employee responsibilities and requirements.
    3. Review wide range of relevant compensation data to ensure company's remuneration policies are competitive.
    4. Contribute company data to compensation surveys and analyze results.
    5. Ensure remuneration compliance and integrity through education and coaching of managers.
    6. Assist in the day-to-day administration of compensation programs (base pay, short- and long-term incentives) through consultation and collaboration with HR Business Partners and managers on compensation inquiries, including promotional salary increases, market pricing, internal equity studies, etc.
    7. Conduct job evaluations and complete exemption tests to ensure compliance with the Fair Labor Standards Act (FLSA).
    8. Review new positions in anticipation of recruitment to ensure appropriate classification. Involves:
      1. Modify and create new descriptions which accurately reflect current roles, responsibilities and requirements.
      2. Use published or conduct ad hoc surveys to obtain and analyze market pay rates.
      3. Make recommendations on appropriate pay grade level.
      4. Reviews results for context relative to internal equity.
      5. Lead process improvement activities to ensure compliance of compensation actions and policies as well as adequacy of internal controls and consistency with company policy and guidelines.
      6. Analyze salary exception requests for merit, new hires and internal promotions submitted by talent acquisition and human resources team and make recommendations to senior HR Leadership for final approval.
      7. Participate in annual performance review process to ensure compliance and equity.
      8. Assist HR Leadership in the preparation of materials for the Compensation Committee of the Board of Directors.

Knowledge, Skills and Abilities:

In addition to the list below, it is understood that all positions with the company require individuals who possess a pleasant and friendly attitude, project sensitivity towards customers and fellow employees, and maintain a neat and clean professional appearance. Core competencies have been identified as relevant to every position within the company and include: Ethics and Integrity, Listening, Business Acumen, Customer Focus, Approachable and Savvy, Action Oriented, Managing Time & Priorities, Work/Life Balance, Composure & Patience, Drive for Results, Self Development & Knowledge, Dealing with Change, Decision Quality, and Informing.

Competencies:

Communication

(Verbal Communication and Written Communication)

  • Listens, shows interest
  • Demonstrates appropriate non-verbal skills and clarifies with questions and paraphrases
  • Informs, encourages the exchange, access and sharing of information
  • Modifies communication style appropriately
  • Is able to write clearly and succinctly to get messages across to the intended receiver for the desired effect

Decision Quality

  • Makes good decisions using analysis, experience and judgment
  • Most solutions are accurate when judged over time
  • Sought out by others at First Merchants for advice and solutions

Managing Time & Priorities

  • Uses his/her time effectively and efficiently
  • Focuses efforts on important priorities
  • Accomplishes more tasks and assignments in less time
  • Can attend to several priorities at a time
  • Eliminates roadblocks and stays focused
  • Plans daily tasks so important work is accomplished
  • Uses workplace tools, technology or personal methods to keep track of priorities and assignments
  • Prioritizes and works on multiple tasks effectively while maintaining high quality work results

Working Relationships

(Boss Relationships and Peer Relationships)

  • Works well in cooperation with others for the benefit of the company
  • Receives and carries out instruction in a positive manner
  • Responds well to constructive critique from manager and peers
  • Remains open to learning and coaching
  • Viewed as a team player by being cooperative and collaborative

Problem Solving

  • Uses logic, analysis and methods to define problems and offers useful solutions
  • Looks beyond the obvious to find more than one option/solution to choose from
  • Can find common ground and solve problems for the good of all involved
  • Gains perspective by asking others for their input before implementing solutions


Requirements


Position Requirements:

Education -       Bachelor’s degree in human resources, accounting, business or related field of study.

Experience -      Over three (3) years of compensation program administration or related experience.

Preferred Requirements:

SHRM-CP or SHRM-SCP

Professional in Human Resources (PHR) 

Certified Compensation Professional (CCP)

Master’s degree in business administration

Categories

Posted: 2019-09-11 Expires: 2019-10-11

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Compensation Analyst

First Merchants Bank
Daleville, Indiana 47334

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast