Compensation Analyst

Bank OZK - Little Rock, AR

Full-time

Little Rock, AR

Credit Intermediation and Related Activities

About the position

The position is responsible for administering and implementing compensation programs, policies, and procedures to meet Bank OZK's current and future business needs. The role ensures that compensation is consistently administered in compliance with applicable Bank policies and federal, state, and local laws and regulations. The incumbent will collaborate with staff and management to conduct job and competency analysis, ensuring that the compensation structure aligns with the organization's objectives for recruiting, retention, and engagement. Key responsibilities include administering various compensation programs such as base pay, merit programs, short-term incentives, commissions, bonuses, and stock/equity programs. The role requires active participation in compensation surveys, conducting research and analysis on identified markets, pay equity, and compensation trends. Maintaining accurate compensation data across multiple databases and platforms is crucial, as is assisting with the evaluation of jobs and market data to determine competitive pay ranges. The position also involves conducting job and competency analysis by collecting accurate information and writing, editing, and maintaining job descriptions, including classifications and essential job functions. The incumbent will support the salary and workforce budget process by compiling, organizing, documenting, and disseminating relevant data in a timely manner. Additionally, the role includes advising managers and HR staff on pay decisions and requests, ensuring they are competitive, equitable, and compliant with compensation policies and budgetary guidelines. Proficiency in Microsoft Excel and similar tools is essential for conducting modeling, statistical analysis, and costing of base, incentive, and equity pay. The role also requires maintaining current knowledge of HR-related programs, policies, and procedures, ensuring compliance with applicable laws and regulations. The incumbent must produce accurate, thorough, and timely work while meeting commitments and following established policies and procedures. Regular exercise of discretion and judgment in performing essential job functions is expected, along with good punctuality and attendance.

Responsibilities

• Administers and implements compensation programs including base pay and merit programs, short-term incentives, commissions, bonuses, stock/equity programs, etc.
• Participates in and completes compensation surveys in a timely and accurate manner.
• Conducts research and analysis on identified markets, pay equity, compensation trends, etc.
• Maintains accurate compensation data within multiple databases and platforms.
• Assists with the evaluation of jobs and market data to determine competitive pay ranges.
• Conducts job/competency analysis by collecting accurate information and writing, editing, and maintaining job descriptions.
• Assists with and supports the salary and workforce budget process by compiling, organizing, documenting, and disseminating relevant data.
• Advises managers and HR staff on pay decisions/requests, including salary offers, that are competitive and ensure pay equity.
• Demonstrates proficiency in Microsoft Excel and similar tools to conduct modeling, statistical analysis, and costing of pay.
• Assists with the design, implementation, and administration of performance management programs as they relate to compensation.
• Maintains current knowledge of HR-related programs, policies, and procedures, ensuring compliance with laws and regulations.
• Produces accurate, thorough, and timely work, while meeting commitments and following policies and procedures.
• Regularly exercises discretion and judgment in the performance of essential job functions.

Requirements

• Bachelor's degree in human resources, business administration, finance or related field, or commensurate work experience.
• 2+ years' experience administering and implementing compensation programs, including base pay, short-term incentives, stock, salary surveys, etc.
• Demonstrated proficiency in Microsoft Excel required.
• Knowledge of compensation administration, planning, methodology, and research.
• Knowledge of government regulations, laws, and best practices as they pertain to compensation and job architecture/descriptions.
• Ability to manage multiple priorities and projects, adapt quickly to changing needs, and interact effectively with all levels of management.
• Ability to demonstrate effective critical thinking, analytical, and problem-solving skills.
• Ability to communicate effectively both verbally and in writing.

Nice-to-haves

• PHR, CCP or other relevant certification preferred.
• Familiarity with various HRIS and compensation technology preferred.