Compensation and Benefits Analyst – Hybrid  – Full Time – North West  of Boston

Posted 1 year ago

Compensation and Benefits Analyst – Hybrid  – On site 5 days /month  – North West  of Boston

Our client, a financial institution, is looking to hire a Compensation and Benefits Analyst. 
Responsible for collecting and analyzing data to support program decision-making. Able to aggregate large amounts of disparate data into clear, concise financial and business impact plans. Able to speak to data, make recommendations and support reasoning as it relates to Compensation & Benefit programs. Essential Functions:Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Prepares and maintains job descriptions for each position in the organization, ensures descriptions accurately reflect the work being performed by incumbents.
  • Ensures FLSA compliance by reviewing jobs and their respective duties to determine classification as exempt or nonexempt and appropriate salary range.
  • Benchmarks jobs against survey data and other market intelligence to determine competitive compensation ranges for each position.
  • Interviews and surveys employees and managers to gather and document job, organizational, and occupational information including duties, responsibilities and skills required by each job.
  • Prepares and maintains job classifications, salary scales, bonus, and commission plans.
  • Gathers data from market-based compensation surveys; uses spreadsheet and data
    analysis techniques to assess results and market trends.
  • Identifies opportunities to enhance benefit processes and procedures to improve HCM and department efficiencies and the team member experience. 
  • Supports the Open Enrollment process.  Develops test plans and performs system testing to ensure that open enrollment runs smoothly, and employees are correctly enrolled in their elections (ex: open enrollment system changes, data audits with carriers, manual blackout reporting). 
  • Provides financial and business impact analysis on requested changes to benefits and compensation programs.
  • Spearheads organizational pay equity audits every other year. Completes annual salary surveys. 

Job Competencies:

  • Extensive excel data analysis and reporting skills
  • Familiarity with file management and Human Capital Management (HCM) systems. UKG experience a plus
  • Demonstrates intellectual curiosity
  • Knowledge of state and federal laws and regulations with regard to compensation and benefit plans. 
  • Experience in managing compensation programs.
  • Strong knowledge of health and welfare benefit programs. 
  • Excellent analytical skills to research and evaluate benefits and compensation programs to make informed recommendations. 
  • The ability to present information clearly and in a manner that is understandable to managers and employees and to answer questions.
  • Responsible for tasks that are often unstructured and where the issues addressed are less defined, requiring new perspectives and creative approaches. 
  • Excellent writing skills for reporting and communication, to all levels of the organization.
  • Excellent organizational and time management skills.
  • Proficient with Microsoft Office Suite.  Excel expert. 

Education and Experience Requirements:

  • Bachelor’s degree in Business Administration, Finance, Human Resources or related field required.
  • 2-4 years of experience in compensation and/or benefits, in an analyst capacity required.
  • Certified Compensation Professional (CCP) or Certified Benefits Professional (CBP) a plus.