Compensation Consultant

Regions Bank - Birmingham, AL (30+ days ago)

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At Regions, the Compensation Consultant supports an effective on-going administration, design, analysis and implementation of Regions' compensation policies and practices through both analytical and consultative services. Consults with Human Resources (HR) Partners and line managers to ensure internal equity. A Consultant at this level typically exhibits basic executional capabilities and is expected to work autonomously, but may collaborate with senior consultants on complex issues. Can interpret and communicate policies, standards, and regulations.

Primary Responsibilities

Consults and assists with development of business delivery of pay strategy and pay effectiveness relating to base pay, incentive opportunity, and long-term incentive plans (LTIP)
Advises, determines, and recommends mix of pay (i.e., base, short-term incentive, and LTIP) to match market and business strategy
Conducts a comparative analysis of employees to determine potential pay inequities and consults with management on potential solutions
Works with managers to formulate pay strategies within legal and regulatory boundaries while meeting business needs
Determines participation/targets for incentive plans and advises on construct and governance of incentive plans
Under limited supervision, advises on equity issues with business managers, HR Business Partners, corporate recruiting, and others as necessary
Works with HR Partners and line managers to help develop a career framework, identify/address compensation issues, and educate managers regarding effective compensation administration
Researches and partners with internal and external partners to stay abreast of market and business trends
Reviews new hire compensation monthly to evaluate business impact and equity issues
Monitors Fair Labor Standards Act (FLSA) classification and compliance
Identifies and resolves problems
Clearly documents sources, and organizes the information according to the research needs
Produces various management reports

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

Requirements

Bachelors degree in Human Resources, Business, Accounting, or Finance and five (5) year’s experience in Compensation or closely related HR experience
Preferences

Certification as Senior Professional in Human Resources (SPHR) or Certified Compensation Professional (CCP)
Experience in banking industry
Skills and Competencies

Advanced Excel skills (i.e., formula’s, pivot tables, VLOOKUP, etc.)
Knowledge of compensation principles
Strong analytical skills
Able to analyze large data sets
Detail oriented
Excellent problem solving skills
Organizational skills
Excellent communication skills, both written and verbal
Able to work independently or in a team environment
Position Type

Full time
Location Details
Regions Center - Birmingham

Location:
Birmingham, Alabama
EEO/AA/Minorities/Females/Disabled/Veterans