Compensation Coordinator - Toms River, NJ

ABOUT YOUR ROLE

The Compensation Coordinator will analyze the design and assist in the administration of Bank compensation programs, including base pay, long and short-term incentives, commissions, and equity programs that align with company objectives for recruiting, retention, and employee engagement. This role will support the HR department in ensuring the organization adheres to all compensation relevant labor laws, company policies, and regulatory requirements.

WHAT YOU WILL DO

1. Assists in the analysis, design, and administration of employer compensation programs, including base pay, long and short-term incentives, commissions, and equity programs.
2. With guidance and direction from the Director, ensures clarity and uniformity for all compensation plans through use of consistent language and definitions. This includes, but is not limited to, terms related to compensation structures, performance metrics, eligibility criteria, and payment schedules.
3. With guidance and direction from the Director, ensures compensation practices adhere to federal, state, and local regulations, including but not limited to labor laws, tax regulations, and industry-specific guidelines.
4. Assists in the implementation of controls to monitor and mitigate risks associated with compensation structures.
5. Assists in the assessment salary and compensation equality across the workforce to ensure compliance and support management in addressing any disparities.
6. Manages the process and requirement for each employee to annually acknowledge and sign off on their assigned compensation plan.
7. Assists with the administration and validation of all compensation plan payments, including annual incentives, branch incentives and commissions plans
8. Serves as a subject-matter expert on compensation-related projects and provides support to HR colleagues on compensation philosophy, policies, programs, and processes.
9. Assists with the delivery of quarterly compensation Board reporting.
10. Builds a consultative and collaborative relationship with HR Business Partners and business leaders to build understanding and effective delivery of OFB's compensation programs and processes.
11. Partners with HR colleagues and internal clients to understand compensation business needs.
12. Assists in annual audit procedures -- both internal and external.
13. Prepares and presents analytical analysis on project status and timelines. Ensures overall project quality control from beginning to end.
14. Assists and provides ongoing service and support to the entire HR Department, as well as Management and the employee population.
15. Coordinates with vendors and participates in the vendor management process, if necessary.
16. Performs other duties as assigned by the department and Manager.

WORKING CONDITIONS/PHYSICAL REQUIREMENTS
Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.