Compensation Analyst

at  Bankunited

SUMMARY: The Compensation Analyst conducts job analyses, develops job descriptions, and recommends appropriate job titles and pay ranges for newly created or modified existing roles. The Compensation Analyst provides guidance and makes recommendations to directors, managers, employees, and recruiters regarding a variety of compensation matters. The Compensation Analyst works independently, with limited supervision, while still being a part of a diverse, highly skilled and motivated team of HR professionals.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned.

• Develops job descriptions for new and existing roles and reviews job descriptions for accuracy based on analysis of position responsibilities.
• Maintain database of all job descriptions.
• Assists with reviewing salary data and salary adjustment recommendations to ensure compliance with established policies and practices.
• Gathers and analyzes relevant compensation data as required by HR for specific business projects and activities.
• Partners with payroll team to conduct various audits on employee and job data in HRIS system.
• Stays abreast of local, state, and federal employment laws that relate to compensation, including emerging laws that cover pay equity.
• Monitors and interprets FLSA and other federal, state and local laws regulating compliance for company salary and pay practices.
• Conducts reviews of FLSA designations.
• Assist with conducting thorough job and market analysis and job evaluations for newly created, significantly modified, or previously unevaluated positions, and works to provide internal equity and external competitiveness.
• Gathers and analyzes benchmark data from various survey sources.
• Acts as a Subject Matter Expert on systems such as JDXpert and Payscale/Payfactors.
• Assist with ensuring that all new and existing job codes are aligned with BankUnited’s RBAC (role based access controls) model.
• Review, validate and approve Signature Authority forms
• Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
• Adheres to Bank policies and procedures and completes required training.
• Identifies and reports suspicious activity.

EDUCATION

Bachelor’s Degree in Human Resources, Business Administration, Organizational Development, or a related field or equivalent experience required

EXPERIENCE

• A minimum of 3-4 years of compensation analysis experience preferred
• May consider alternate related experience preferred

KNOWLEDGE, SKILLS AND ABILITIES

• Must be able to analyze large amounts of data
• Must have excellent writing skills and superior organizations skills.
• Attention to detail and follow-through on projects is imperative.
• Ability to effectively set priorities and manage high volume of activities in a flexible manner.
• The Compensation Analyst must be a team player that can think, analyze, and impact results both individually as well as part of a broader team process. The ability to think and create strategically as well as drive measurable execution (actions) is critical to success.
• The Compensation Analyst must have the ability to build rapport, establish trust and credibility, maintain confidentiality of information, develop strategies, proposals and reports to improve the operations and efficiency of Human Resources. As a strategic HR partner, this role includes proactive participation in various meeting forums to help identify opportunities to improve Human Resources operation and procedural efficiencies.
• Must have the ability to influence at all levels of the organization, with or without formal authority, and establish and maintain collaborative relationships.

• Develops job descriptions for new and existing roles and reviews job descriptions for accuracy based on analysis of position responsibilities.
• Maintain database of all job descriptions.
• Assists with reviewing salary data and salary adjustment recommendations to ensure compliance with established policies and practices.
• Gathers and analyzes relevant compensation data as required by HR for specific business projects and activities.
• Partners with payroll team to conduct various audits on employee and job data in HRIS system.
• Stays abreast of local, state, and federal employment laws that relate to compensation, including emerging laws that cover pay equity.
• Monitors and interprets FLSA and other federal, state and local laws regulating compliance for company salary and pay practices.
• Conducts reviews of FLSA designations.
• Assist with conducting thorough job and market analysis and job evaluations for newly created, significantly modified, or previously unevaluated positions, and works to provide internal equity and external competitiveness.
• Gathers and analyzes benchmark data from various survey sources.
• Acts as a Subject Matter Expert on systems such as JDXpert and Payscale/Payfactors.
• Assist with ensuring that all new and existing job codes are aligned with BankUnited’s RBAC (role based access controls) model.
• Review, validate and approve Signature Authority forms
• Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
• Adheres to Bank policies and procedures and completes required training.
• Identifies and reports suspicious activity