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OceanFirst Bank · 7 hours ago

Senior Compensation Analyst

Toms River, NJ

Full-time

Onsite

Senior Level

OceanFirst Bank is committed to delivering value to its customers through the essential roles played by its employees. The Senior Compensation Analyst is responsible for developing and implementing compensation programs, analyzing compensation data, and supporting the HR department in various initiatives.

BankingFinanceFinancial Services

Growth Opportunities

Responsibilities

Assists in the analysis, design, and administration of employer compensation programs, including base pay, incentive pay, and performance management programs

Maintains all job descriptions including pay grades, position titles and business structure. Ensures job descriptions are written and/or updated according to established format. Maintains centralized electronic job description library

Maintains/updates salary ranges, job codes, grades, and bonus targets and guidelines; partner with HR Business Partners and HRIS to ensure accuracy of compensation data in ADP

Extracts, analyzes and reports wage and salary information from electronic database systems

Serves as a subject-matter expert on compensation-related projects and provides support to HR colleagues on compensation philosophy, policies, programs, and processes

Participates in applicable salary surveys ensuring accurate and timely data submission. Analyzes salary survey data evaluates market trends and makes recommendations regarding organizational salary adjustments, merit budgets, and structure adjustments (including geographic structures)

Identifies and recommends improvements and efficiencies around compensation processes and programs

In conjunction with the Assistant Corporate Secretary prepare CD&A and reporting for the annual Proxy

Assists with requests for pay adjustments ensuring requests comply with current compensation policy

Assists in the Annual Budget -- gathering and manipulating data for Bank-wide salary budget and the HR Department budget

Builds a consultative and collaborative relationship with HR Business Partners and business leaders to build understanding and effective delivery of OFB's compensation programs and processes

Provides ongoing job benchmarking, compensation survey assessment and analysis, and competitive market intelligence and insight to Talent Acquisition and HR Business Partners

Partners with HR colleagues and internal clients to understand business needs, job requirements, and organizational design to evaluate jobs

Assists in annual audit procedures -- both internal and external

Manages the annual incentive process including tracking employee transfers, salary adjustments, performance scores all integrated into the overall incentive calculation through bonus payment

Manages entire LTI process from annual grant awards, distribution of award agreements, and vesting processes

Tracks Bank's shares available, calculate quarterly dividends and payments post vesting

Manages the annual firmwide Total Compensation Statement process

Prepares and presents analytical analysis on project status and timelines

Ensures overall project quality control from beginning to end

Assists with the automation of manual processes to increase operational efficiency, reduce financial and management reporting risk, and increase financial and management reporting accuracy

Coordinates with vendors if necessary

Qualification

Compensation program designData analysisMarket benchmarkingAdvanced MS ExcelJob description managementProfessional writingInterpersonal skillsOrganizational skillsTeam collaborationConfidentiality

Required

Aptitude for data manipulation and analysis with the capability to translate large amounts of data into insightful information that is consumable at an executive level

Strong analytical and technical skills with superior aptitude for numbers

Strong technological/computer-based skills. Advanced MS Suite experience required, especially utilization and manipulation of MS Excel

Professional writing skills are valuable; position will assist in writing job descriptions

Demonstrated ability to work effectively in a team environment, including interaction with senior management and collaboration with peers, is essential to success in this role

Excellent interpersonal and influencing skills to establish trust, credibility, and rapport at all levels of the organization

Ability to handle sensitive and confidential information appropriately

Highly detailed and organized

Proven ability to handle multiple competing priorities while maintaining attention to detail in a rapidly changing business environment

Reliable, dependable and maintains a high degree of flexibility

Benefits

On-site fitness facility at Red Bank and Toms River headquarter offices

Employee perks & discount programs

Tuition assistance

Incentive compensation program

Professional development opportunities

Company

OceanFirst Bank

OceanFirst Bank is one of the largest regional banks providing financial services throughout New Jersey and in the metropolitan markets of Philadelphia, New York, Baltimore, and Boston.

Founded in 1902