Sr Compensation Analyst

$108,000 - $132,000/Yr

Pacific Life - Newport Beach, CA

Full-time - Mid Level

Newport Beach, CA

Insurance Carriers and Related Activities

About the position

At Pacific Life, we are dedicated to providing our policyholders with the support they need for their financial futures. As a Senior Sales Compensation Analyst, you will play a crucial role in our HR Compensation team, based in Newport Beach, CA. This hybrid position allows you to work both in the office and remotely, reflecting our commitment to empowering employees to achieve their best work in a flexible environment. Your primary responsibility will be to support the design and administration of compensation plans, particularly focusing on sales incentive plans. You will collaborate closely with various stakeholders, including sales leaders, finance leaders, Human Resources Business Partners (HRBPs), and internal legal counsel, to ensure that our compensation philosophy and processes are effectively communicated and implemented. In this role, you will partner with sales leaders to understand their business objectives and design incentive plans that not only drive business outcomes but also provide competitive compensation levels for plan participants. You will be responsible for developing clear and effective compensation plan communications and writing formal plan documents for participants. Additionally, you will work with finance teams to analyze the effectiveness and competitiveness of sales incentive compensation plans, making recommendations for optimization. Conducting market pricing reviews for all levels of exempt and nonexempt jobs throughout the company will also be part of your responsibilities, along with providing data for compensation surveys and developing criteria for special pay and incentive design studies. Your expertise will be essential in advising sales leaders on the consistent application of compensation policies and practices, which is vital for promoting employee attraction and retention. You will also participate in the coordination and review of annual compensation salary adjustments and company-wide bonus plan awards, collaborating with the broader compensation team and key partners to execute company-wide compensation programs. Ensuring that sales compensation plans comply with legal and regulatory requirements will be a critical aspect of your role, as we strive to maintain the highest standards in our compensation practices.

Responsibilities

• Partner with sales leaders to understand business objectives and design incentive plans that drive business outcomes while providing competitive compensation levels to plan participants.
• Develop compensation plan communications and write formal plan documents for participants.
• Partner with finance teams to analyze effectiveness and competitiveness of sales incentive compensation plans and make recommendations to optimize plan design and administration.
• Conduct market pricing (job evaluation) reviews for all levels of exempt and nonexempt jobs throughout the company.
• Provide data for compensation surveys and develop criteria for special pay and incentive design studies.
• Advise sales leaders regarding consistent application of compensation policies and practices to promote employee attraction and retention.
• Participate in coordination and review of annual compensation salary adjustments and company-wide bonus plan awards.
• Collaborate with broader compensation team and key partners in the development and execution of company-wide compensation programs.
• Ensure sales compensation plans comply with legal and regulatory requirements.

Requirements

• 5+ years of experience in a sales incentive plan design and administration role.
• Bachelor's degree in Finance, Business, or a related field.
• Demonstrated sales compensation experience within a multi-faceted consulting, insurance and/or financial services company.
• Knowledge of regulatory and legislative matters that impact sales compensation design structure and communication.
• Advanced Excel knowledge, including the ability to manipulate large data sets and conduct scenario analyses/modeling.
• Strong verbal, written and stakeholder communication skills to effectively influence and manage expectations with sales leadership and cross-functional teams.

Nice-to-haves

• Experience creating communication strategies to educate sales leaders and professionals regarding incentive plan design objectives and outcomes.
• Experience implementing efficiencies, automation, and integration of HRIS (Workday preferred) and business area sales incentive calculation processes and systems.
• Certified Sales Compensation Professional (CSCP) and/or Certified Compensation Professional (CCP)

Benefits

• Medical, Dental, Vision, and Wellbeing Reimbursement Account that can be used on yourself or your eligible dependents.
• Generous paid time off options including: Paid Time Off, Holiday Schedules, and Financial Planning Time Off.
• Paid Parental Leave as well as an Adoption Assistance Program.
• Competitive 401k savings plan with company match and an additional contribution regardless of participation.