PacWest Bancorp

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Sr. Compensation Analyst - Human Resources (Greenwood Village,CO)

at PacWest Bancorp

Posted: 5/17/2019
Job Status: Full Time
Job Reference #: 170a16fb-cc8d-4119-b3aa-87d15c9bd589
Keywords: salary, compensation

Job Description

The Sr. Compensation Analyst works closely with Human Resource Management to provide data and insights to business leaders on all compensation matters. Conducts benchmarking projects and analyzes the competitiveness of the organization’s pay practices, including base pay and incentive programs. Assists in defining compensation process design and standard operating procedures to help the bank make compensations decisions that align with business objectives and dynamic market conditions.

RESPONSIBILITIES:   

 

  • Maintain base salary structure and update strategy as needed to ensure alignment with changing market conditions.  Provide counsel to Sr. Leadership on design and development of sales and incentive programs that support both individual achievement and business objectives.

  • In partnership with Business Leaders, Finance & Accounting, project manage all incentive plans including plan design, plan documents, communication materials, accruals coordination and payout processing.  This includes learning the operations of the business so that plans are designed to reward the appropriate activities based on the role and the key business objectives. 

  • Analyzes external market wage data and makes recommendations relative to competitive compensation packages for both new and existing positions.  Conducts special market studies, where appropriate, to validate or establish competitive pay strategies for specific jobs

  • Ensure key positions and newly created roles are market priced on a regular basis to ensure competitive pay practices to enhance the bank’s ability to attract hire and retain highly qualified employees. This includes the maintenance job descriptions for all roles.

  • Project manage the annual merit planning process including:  creating and maintaining the project plan, create budget recommendations, planning worksheets or systems, executive roll-up and processing. 

  • Partner with HR Management in the design and delivery of the communications regarding Compensation, strategy and programs to the organization including overall messaging and delivery channels. This includes executive presentations and updates.

  • Participate with the HR systems team to identify long-term, technology-based solutions to ease and expedite the compensation planning processes for leaders and managers

  • Maintains expert knowledge of compensation laws, regulations and insures organizational compliance

  • Acts as lead consultant to proactively address compensation issues; evaluates compensation processes and systems to ensure they are meeting the needs of the organization; implements process and system improvements where such changes would have a positive impact

  • Works collaboratively with leaders, managers and/or HR colleagues to develop career ladders and career paths to provide staff with appropriate career advancement opportunities

POSITION REQUIREMENTS:

  • BA/BS in Human Resources, Business, Finance, or closely related field preferred.

  • CCP Certification (Certified Compensation Professional) preferred.

  • Five to seven years of progressive experience in compensation positions and technical experience that demonstrates an expertise within the Compensation space required.

  • Demonstrated experience with design, model and implementation of sales and performance-based incentive plans.

  • Experience with HRSoft or other compensation systems preferred

  • Strong project management skills. Demonstrated success/ability to manage different aspects of a project, prioritize to deadlines and deliver high-quality results on time. Ability to handle multiple projects simultaneously in a fast-paced environment.

  • Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.

  • Strong analytical and quantitative skills that include the ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

  • Advanced command of Excel and strong proficiency with PowerPoint for creation of presentations.

  • Proven ability to build relationships and influence results across all levels of the organization.

  • Exceptional verbal and written communication skills that include a demonstrated ability to communicate complex, technical concepts to non-technical audiences.

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