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 Compensation Analyst will administer various compensation programs, including base pay, merit programs, short-term incentives, commissions, bonuses, and stock/equity programs. The analyst will actively participate in compensation surveys, conducting research and analysis on market trends, pay equity, and compensation practices. Maintaining accurate compensation data across multiple databases and platforms is crucial, as is assisting with job evaluations and determining competitive pay ranges. The role also involves supporting the salary and workforce budget process by compiling and disseminating relevant data accurately and timely. The Compensation Analyst will advise managers and HR staff on pay decisions, ensuring that salary offers are competitive and comply with compensation policies and budgetary guidelines. Proficiency in Microsoft Excel and similar tools is essential for conducting modeling, statistical analysis, and costing of various pay structures. Additionally, the analyst will assist in the design and administration of performance management programs related to compensation, while staying informed about HR-related programs and legal developments to ensure compliance with regulations and company policies.

Responsibilities

• Administers and implements compensation programs including base pay and 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 pay decisions and requests, ensuring compliance with policies and guidelines.
• Demonstrates proficiency in Microsoft Excel for modeling, statistical analysis, and costing of pay.
• Assists with the design and administration of performance management programs as they relate to compensation.
• Maintains current knowledge of HR-related programs, policies, and legal regulations to ensure compliance.

Requirements

• Bachelor's degree in human resources, business administration, finance, or a related field, or commensurate work experience.
• 2+ years of experience administering and implementing compensation programs, including base pay and short-term incentives.
• Demonstrated proficiency in Microsoft Excel is required.
• Knowledge of compensation administration, planning, methodology, and research.
• Familiarity with various HRIS and compensation technology is preferred.
• PHR, CCP, or other relevant certification is preferred.

Nice-to-haves

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