First Interstate Bank - Spokane, WA
posted 2 months ago
The Compensation Analyst position at First Interstate Bank is a hands-on role focused on identifying, evaluating, and implementing systems, pay structures, and processes that align with the company's compensation strategy. This position is crucial for supporting company-wide compensation plans that aim to attract and retain high-performing individuals while ensuring compliance with all legal requirements. The Compensation Analyst will report directly to the Compensation Manager and will be responsible for providing analysis and recommendations that help the organization achieve its compensation program objectives. In this role, the Compensation Analyst will oversee the daily operations of various compensation programs, including base pay, incentives, non-qualified deferred compensation, and equity plans. The analyst will manage the job description development and job evaluation processes, assessing jobs and their respective duties to determine classification as exempt or non-exempt in compliance with FLSA requirements. Additionally, the analyst will lead job pricing reviews, ensuring the integrity of market survey job matches and evaluating both external market data and internal data to determine appropriate compensation levels. The Compensation Analyst will conduct cost modeling and impact analysis for pricing review projects, complete market salary surveys on an annual basis or more frequently as needed, and administer the job description, survey data management, and equity plan systems to ensure data integrity and full utilization of system capabilities. The role also involves administering the annual compensation review process, conducting research and analysis on market competitiveness, pay equity, and the effectiveness of compensation programs, and recommending process improvements and efficiencies for these programs. Moreover, the analyst will develop and maintain accurate compensation procedures and other internal procedure guidelines, participate in and/or lead internal and/or external audits, and collaborate with Corporate Finance to project and manage the cost of compensation plans within budget. Ensuring compliance with all internal policies, SOX controls, regulatory guidance, and federal, state, and local wage laws is also a critical aspect of this role. The Compensation Analyst will assist with due diligence, analysis, recommendations, and integration for Mergers and Acquisitions (M&A) and participate in compensation projects, being accountable for project accuracy, progress, and deadlines.