Regions Financial - Birmingham, AL
posted 5 months ago
At Regions, the Compensation Analyst plays a crucial role in the implementation and administration of compensation programs. This position is focused on administering defined procedures, conducting analyses, and preparing reports to ensure that the compensation structure aligns with the company's goals and market standards. The Compensation Analyst will work under direct supervision, managing Regions' wage and salary administration programs, which includes creating and maintaining job families, job summary descriptions, and data at the job level. The role also involves handling all administrative tasks related to job creation, setup, and recordkeeping, ensuring that all processes are compliant with regulatory requirements. In addition to administrative duties, the Compensation Analyst will perform job audits and research pay practices and trends to provide insights into compensation strategies. This includes completing job evaluations to determine appropriate job classifications in accordance with the Fair Labor Standards Act (FLSA). The analyst will analyze pay structures, market-based grades, and geographic differentials, recommending and implementing associate pay structures under the guidance of a manager or senior consultant. The role requires a strong analytical mindset to develop a conceptual understanding of job descriptions, management levels, and organizational structure, as well as participation in salary surveys to benchmark compensation against industry standards. This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay, reflecting the professional nature of the role and the expectations for performance and results.