Compensation Analyst

Bank OZK - Little Rock, AR

Full-time - Mid Level

Little Rock, AR

Credit Intermediation and Related Activities

About the position

The Compensation Analyst at Bank OZK is responsible for administering and implementing compensation programs, policies, and procedures that align with the bank's current and future business needs. This role ensures that compensation practices are consistently applied in compliance with applicable bank policies and federal, state, and local laws and regulations. The analyst collaborates with staff and management to conduct job and competency analyses, ensuring that the bank remains competitive in its compensation offerings. In this position, the analyst will administer various compensation programs, including 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 market trends, pay equity, and maintaining accurate compensation data across multiple databases and platforms. The analyst will assist in evaluating jobs and market data to determine competitive pay ranges and will be responsible for collecting and maintaining job descriptions, including classifications and essential job functions. Additionally, the Compensation Analyst will support the salary and workforce budget process by compiling and disseminating relevant data accurately and timely. The role involves advising managers and HR staff on pay decisions that ensure competitiveness, pay equity, and compliance with compensation policies. Proficiency in Microsoft Excel and similar tools is essential for conducting modeling, statistical analysis, and costing of various pay structures. The analyst will also assist in the design and administration of performance management programs related to compensation, ensuring compliance with legal and regulatory matters while maintaining a high standard of work quality and punctuality.

Responsibilities

• Administers and implements compensation programs including base pay, merit programs, short-term incentives, commissions, bonuses, and stock/equity programs.
• Participates in and completes compensation surveys in a timely and accurate manner.
• Conducts research and analysis on identified markets, pay equity, and compensation trends.
• 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 maintaining job descriptions.
• Supports the salary and workforce budget process by compiling and disseminating relevant data.
• Advises managers and HR staff on competitive pay decisions and compliance with compensation policies.
• Demonstrates proficiency in Microsoft Excel for modeling, statistical analysis, and costing of pay.
• Assists with the design and administration of performance management programs related to compensation.
• Maintains current knowledge of HR-related programs and ensures compliance with applicable laws and regulations.

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 and salary surveys.
• Demonstrated proficiency in Microsoft Excel.
• Knowledge of compensation administration, planning, methodology, and research.
• Knowledge of government regulations and best practices related to compensation.

Nice-to-haves

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