"You work for NJM? That's a great company!" If you're hired at NJM, you'll hear it over and over again from friends, family and neighbors. Why? Because NJM is committed to providing its customers with superior service, and great service goes a long way. Why else is NJM called a great company? Because our employees enjoy working here, are appreciated, and are provided with an excellent benefits plan. With growth and change in the insurance industry, there has never been a better time to join NJM.
The successful candidate will become an integral part of the compensation team. They will help achieve the desired results for the development and maintenance of fixed and variable compensation programs.
The Senior Compensation Analyst utilizes advanced compensation knowledge and analytical skills to perform the following functions:
Collaborate with the Compensation staff in the oversight, development and maintenance of fixed and variable compensation programs, including: employee, executive, annual incentive, sales commission and other bonus programs. Perform advanced compensation functions including: determination and approval of salary offers, merit and promotional increases and salary change recommendations.
Determine FLSA position classification; position attribute assignment; maintenance of job responsibilities and determination of Pay Zone assignments; and maintenance of internal and external equity of compensation levels.
Participate in salary surveys; utilize results to conduct market pricing; and ensure accuracy of internal pay zone assignments.
Represent the Compensation area in both internal and external meetings with all levels of management as a subject matter expert. Provides guidance on compensation related matters. Provide guidance to HR Business Partners and Management on compensation matters of moderate to high complexity.
Responsible for the development and ongoing maintenance of salary structures, ensuring alignment with NJM’s pay philosophy and balanced with external market competitiveness. Utilizing data analytics, support the development of strategy and design of compensation programs.
Compile, analyze and evaluate compensation data and prepares complex queries and reports utilizing Microsoft programs, such as Excel (pivot tables, filters, lookup tables, formulas as well as creation of charts and graphs), Word, and PowerPoint in support of a variety of compensation projects and initiatives.
Conduct research and analysis for compensation related projects and presents market supported recommendations for development and/or execution.
Participate in developing, updating, and/or and implementing human resources policies, procedures, processes, and forms to improve efficiency and effectiveness.
7+ years of relevant compensation experience, including fixed and variable compensation programs (incentive, bonus and sales compensation).
Certified Compensation Professional (CCP) designation is highly preferred.
Extensive experience in the use of HCM (specifically Workday), and other Compensation related databases, such as Payfactors or CompAnalyst.
Excellent quantitative and qualitative analytical skills, including competence in financial analysis.
Demonstrated advanced Excel skills in working in large files, creating macros, utilizing lookups & Pivot Tables, and strong data manipulations skills.
Must have excellent oral and written communications skills with the ability to interact effectively with internal customers and external vendors; confident and professional presenter to all audiences.
Strong project management skills with the ability to work under strict timelines.
Professional demeanor and emotional intelligence.
Ability to handle difficult or high pressure situations with confidence and diplomacy.