A large bank based in New York City seeking a skilled Compensation & HR Analyst to ensure their compensation programs remain competitive, equitable, and compliant. This individual will play a key role in analyzing compensation data, market trends, and job roles to provide strategic recommendations and administer compensation programs effectively.Responsibilities:
- Conduct comprehensive analysis of compensation data to uphold competitiveness, internal equity, and legal compliance
- Evaluate job roles and responsibilities to determine appropriate classifications and salaries, ensuring accuracy and consistency through job analysis and description development
- Administer compensation programs, overseeing merit increases, bonuses, and long-term incentives. Coordinate data collection and calculation of employee KPIs to support incentive compensation
- Collaborate with managers and HR partners to guide compensation planning cycles and address related matters effectively
- Analyze HR data to identify trends and opportunities for process enhancement, presenting findings and insights to HR leadership and stakeholders through reports and dashboards
- Stay abreast of federal, state, and local laws and regulations concerning compensation and HR practices, ensuring adherence to legal requirements and company policies
- Communicate compensation and HR policies, programs, and updates clearly to partners
- Prepare monthly and quarterly reports to support compensation and HR initiatives
Qualifications:
- Bachelor's degree in Human Resources, Business Administration, Finance, or a related field
- Minimum of 2 years of experience in compensation analysis, HR analytics, or a relevant field, preferably within financial services
- Proficient in Excel and PowerPoint, with strong analytical skills. Experience with HRIS systems, particularly ADP Workforce Now, is advantageous
- Thorough understanding of compensation principles, practices, and legal requirements
- Excellent communication and interpersonal skills, enabling effective collaboration across teams
- Detail-oriented with a commitment to accuracy and confidentiality
- Ability to prioritize tasks, manage multiple projects concurrently, and meet deadlines within a dynamic environment