Compensation Analyst, HR​/Recruitment

All locations

Amelia, United States;
Hartford, United States;
New York, United States;
Princeton, United States;

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

We have a great opportunity on the HR team for a Compensation Analyst.

The Compensation Analyst participates in the administration, analysis and delivery of compensation programs and processes. The role works collaboratively with Compensation Consultants and/or HR Business Partners, colleagues, and people managers to provide data analysis, market insights, job evaluations, and compensation recommendations in accordance with established compensation programs, policies and guidance. The role may independently lead defined recurring or annual compensation processes and projects within established frameworks.

• Administer and independently manage assigned recurring compensation programs and processes, including incentive compensation, salary administration, accruals, surveys and related activities. May lead defined annual processes within established program parameters and timelines.
• Participate in evaluating and classifying positions within the organization based on job content, market data, and organizational structure. Ensure job descriptions/profiles accurately reflect responsibilities and requirements and align with internal job grading framework. Escalate complex, unusual or highly sensitive job evaluations as appropriate.
• Work closely with HR Business Partners, Talent Acquisition and hiring managers to review job descriptions, assign appropriate job levels, and ensure consistency in job classification.
• Build relationships with internal stakeholders to understand their needs and address routine to moderately complex compensation-related concerns. Participate in communications for stakeholders on compensation matters and provide guidance and support to HR Business Partners, managers, and employees, escalating complex matters as appropriate.
• Participate in administration of various compensation programs, including base pay, variable pay, and incentive plans. Provide guidance and recommendations on salary adjustments and promotions to ensure alignment with budgetary constraints and organizational goals. Administer salary adjustments, bonuses, and other compensation-related payments, ensuring accuracy and compliance with established policies and guidelines.
• Maintain accurate and up-to-date compensation data in HRIS systems. Generate regular reports and presentations to provide insights into compensation trends, budget utilization, and compliance metrics. Present findings and recommendations to management, as needed.
• Collect, evaluate, and interpret compensation data from internal and external sources to support decision-making processes. This includes conducting market research, benchmarking job roles, and analyzing and participating in salary surveys to ensure our compensation practices remain competitive.
• Identify opportunities and recommend ways to streamline processes, improve efficiency, and enhance the effectiveness of compensation programs. Proactively seek feedback from stakeholders and implement changes as needed to drive continuous improvement.
• May partner with finance to develop and maintain annual compensation budgets…