Compensation Analyst

**Job Summary** The Compensation Analyst administers, analyzes, and continuously improves the Bank's compensation programs. The position's primary duty consists of non-manual office work related to the Bank's management policies and general business operations, including compensation analytics, compensation administration, incentive plan governance, risk assessment, regulatory compliance, and audit readiness. Responsibilities include job evaluation, market pricing, salary administration, incentive compensation plan administration, compensation reporting, HRIS data integrity, and compensation program design and maintenance. The Compensation Analyst exercises independent discretion and judgment with respect to matters of significance, including analyzing complex compensation and workforce data, interpreting compensation policies and incentive plan provisions, identifying compensation-related risks and issues, developing recommendations, and advising HR leadership and business partners on job architecture, pay decisions, incentive compensation administration, wage and hour considerations, and regulatory requirements. Recommendations and analyses are relied upon by management and are given particular weight in decision-making. The employee is expected to spend more than 50% of working time performing these exempt duties and to perform work with minimal supervision, exercising discretion and independent judgment in conducting assigned responsibilities. **Key Responsibilities** - Maintain and support the organization’s job architecture, compensation framework, salary structures, and job classification system. - Analyse, prepare, update, standardize, and archive job descriptions to ensure alignment with actual duties, organizational needs, and approved templates. - Lead ongoing cleanup and standardization of the job description library and job title inventory to improve consistency, format quality, identify outdated, inconsistent, duplicative, or noncompliant content and coordinate needed revisions with HR and business leaders. - Partner with HR leadership and business stakeholders on compensation matters, including new positions, job changes, pay recommendations, internal equity, new hire rates, and wage and hour questions. - Conduct complex job analysis, evaluation, and leveling to support appropriate classification and compensation decisions. - Maintain market-pricing tools and compensation databases, ensuring data accuracy, timely updates, and effective reporting capabilities. Perform market pricing and benchmarking for new and existing roles using external salary survey data and compensation tools. - Participate in annual and ad hoc compensation surveys, including data preparation, validation, submission, and follow-up with survey vendors. - Develop, analyze, and deliver recurring and ad hoc compensation and HR reports on a timely and accurate basis. Ensure the accuracy, consistency, and integrity of compensation data across HR systems, reports, and related platforms. - Administer and support incentive compensation plans, including plan documentation, eligibility tracking, payout validation, communication materials, distribution through the HRIS system, and ongoing process improvements. - Maintain governance documentation for incentive compensation programs, including plan controls, audit support materials, risk assessments, approval workflows, and traceability matrices to support continuous audit readiness. - Conduct compensation analyses, modeling, and reporting to support incentive plan design, administration, payout review, internal equity, market competitiveness, budget impact, and leadership decision-making. - Develop and maintain incentive compensation dashboards, metrics, and recurring reports to monitor plan performance, participation, payout trends, budget impact, exceptions, and compliance-related indicators. - Support incentive plan audits by preparing documentation, validating data, researching discrepancies, coord…