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The Senior Analyst, Compensation is a key member of the Total Rewards team accountable for providing compensation advice and counsel to assigned businesses based on comprehensive analysis, research and the application of compensation concepts and principles, within the framework of OMERS Worldwide Total Compensation Strategy. This position supports the HR Business Partners in understanding and implementing compensation programs by conducting compensation reviews and providing advice on proposals. This includes managing the annual compensation program with a focus on market analysis and partnering with HR colleagues enterprise-wide and other areas such as finance in analyzing and implementing new compensation plans. This role is also accountable for preparing key compensation management decision tools.
1. Provide advice and recommendations to HR Business Partners (HRBPs) regarding total compensation (base salary, short term incentive, and long term incentive) while ensuring alignment with business and total compensation strategies. Subject matter expertise is required in situations such as:- Understanding and communicating plan mechanics and updates for compensation programs- New hire total compensation recommendations- Employee transfers or terminations/resignations- Completing compensation review on the compensation competitiveness of employee/functions by conducting internal and external market research, development and/or participation in compensation surveys, developing base salary structure reference points and recommending adjustments as required.- Developing and delivering comprehensive presentations to stakeholders to increase understanding of their compensation and to support informed decision-making.2. Lead the year-end compensation review and implementation including:- Project management and planning with a focus on continuous process improvement- Consulting to the HR BPs: providing advice and support in compensation program implementation including communications and tools- Develop annual compensation recommendations supported with credible research and analysis and prepare related consolidated compensation reports- Ensure appropriate systems in place to support the year-end process- Partner with Payroll to ensure accurate and timely payment of incentive awards and salary increases- Partner with internal departments to ensure appropriate year-end reporting inputs- External Auditor contact for year-end audit3. Accountable for the forecasting, target funding, actual funding, and quarterly budget accruals for the relevant compensation programs.4. Manage or partner with colleagues on multiple total rewards projects from planning and designing through to implementation. 5. Manage the OMERS job evaluation program and ensure accordance with organizational and regulatory requirements. Chair the job evaluation committee and ensure the evaluation practice is fair, consistent, and effective.6. Maintain a network of contacts and knowledge of industry and compensation trends to facilitate timely access to market intelligence and to develop viable compensation solutions.7. Develop and manage a compensation analyst by sharing knowledge and expertise; recognizing development needs and coaching to close skill/knowledge gaps. Sets priorities and objectives and assesses performance, with ongoing feedback
- 6-9 years of experience in compensation, including survey preparation and analysis - Excellent mathematical and quantitative analysis skills with the ability to calculate a variety of financial and compensation modeling- Strong analytical and problem-solving skills with the ability to make recommendations based on interpretation of analysis- Strong project management skills with the ability to work on multiple high profile projects, within tight timelines- Excellent computer skills with a solid knowledge and proficiency in Microsoft Excel, Access, Powerpoint and Word- Experience with Human Resources Information Systems (HRIS)- Strong interpersonal and communication skills with the ability to influence effectively all levels of the organization- Knowledge of investment industry/business a definite assetEDUCATION AND ACCREDITATIONS:- Post secondary degree- Certified Compensation Professional (CCP) and/or Certified Human Resources Professional (CHRP)