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Compensation Analyst

Company: Verisk
Location: Jersey City
Posted on: January 26, 2023

Job Description:

Company Description

We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Job Description

Come join Verisk's corporate Compensation team to work on the development and maintenance of Verisk's compensation structure. Partner with the team of HR Business Partners on ongoing compensation needs for the organization. The role reports in to our Jersey City, NJ office. Verisk offers a hybrid work environment with in-office work 2 days/week. Open to fully remote in other US locations.

Compensation Planning Process

  • Support the annual compensation planning process (merit salary increases, promotions, bonuses, and long-term incentive awards)
  • Maintain the bonus and long-term incentive target data in the HRIS
  • Scrub, consolidate, and create (via advanced formulas) data for the planning tool
  • Maintain data accuracy during significant data manipulations and transfers
  • Draft proposed salary budgets and proposed salary ranges, and other reports
    Market Intelligence
    • Contribute to the monitoring and analysis of market trends to maintain the competitiveness of employee pay and Verisk pay practices via compensation surveys, collaborating with the HR Business Partners, managers, and the corresponding consulting firms
    • Draft response to ad hoc market pricing requests
    • Maintain and use licensed compensation management system
    • Review requests for new or revised classifications to determine appropriate salary grade assignment
      Data Management and Analytics
      • Perform special studies, cost and impact analyses, and recommendations on subjects such as incentive compensation, bonus plans, sales compensation or equity awards
      • Collaborate with Finance, HRIS, HR Analytics & Reporting, and HR Operations colleagues regarding compensation data, workflows, projects, and processes
      • Employ effective and thorough self/cross checking of work before submission.
        Management & Administration
        • Consult to HR Business Partners and managers on compensation questions and activities
        • Support the spot award program
        • Assist in merger and acquisition compensation related activities
        • Monitor compensation management trends and regulatory developments
        • Respond to challenging requests made by phone or in video or in person
        • Propose solutions to complex problems or problems where precedent may not exist
        • Participate in compensation program education and training activities

          • Bachelor's degree in business or equivalent experience
          • 3-4 years' experience in compensation management and administration
          • Strong Microsoft Excel and Strong PowerPoint skills
          • Database experience a plus
          • Strong analytical, problem solving, interpersonal, communication, organization, and prioritization skills
          • Math and detail oriented
          • Comfortable working both independently and collaboratively
          • Experience with HRIS (e.g., PeopleSoft) a plus

            Additional Information

            In 2022, Verisk received Great Place to Work - Certification for our outstanding workplace culture for the sixth year in a row and second-time certification in the UK, Spain, and India. We're also one of the 38 companies on the UK's Best Workplaces--- list and one of 18 companies on Spain's Best Workplaces--- list.

            For over fifty years and through innovation, interpretation, and professional insight, Verisk has replaced uncertainty with precision to unlock opportunities that deliver significant and demonstrable impact. From our historic roots in risk assessment, we've grown to provide analytic insights that help transform industries focused on some of the world's most critical areas. Today, the insurance industry relies on Verisk to be, and to make the world, more productive, resilient, and sustainable.

            Verisk works in collaboration with our customers and at the intersection of people, data, and advanced technologies. Through proprietary platformed analytics, advanced modeling, and interpretation, we deliver immediate and sustained value to our customers and through them, to the individuals and societies they serve, with greater speed, precision, and scale.

            We're 9,000 people strong, committed to translating big data into big ideas. We help others see new possibilities and empower certainty into big decisions that impact individuals and societies. And we relentlessly and ethically pursue innovation to help move our customers, and the world, toward better tomorrows.

            Everyone at Verisk-from our chief executive officer to our newest employee-is guided by The Verisk Way, to Be Remarkable, Add Value, and Innovate.
            --- Be Remarkable by doing something better each day in service to our customers and each other
            --- Add Value by delivering immediate and sustained results that drive positive outcomes
            --- Innovate by redefining what's possible, embracing challenges, and pushing boundaries

            Verisk Businesses

            Underwriting Solutions - provides underwriting and rating solutions for auto and property, general liability, and excess and surplus to assess and price risk with speed and precision

            Claims Solutions - supports end-to-end claims handling with analytic and automation tools that streamline workflow, improve claims management, and support better customer experiences

            Property Estimating Solutions - offers property estimation software and tools for professionals in estimating all phases of building and repair to make day-to-day workflows the most efficient

            Extreme Event Solutions - provides risk modeling solutions to help individuals, businesses, and society become more resilient to extreme events.

            Specialty Business Solutions - provides an integrated suite of software for full end-to-end management of insurance and reinsurance business, helping companies manage their businesses through efficiency, flexibility, and data governance

            Marketing Solutions - delivers data and insights to improve the reach, timing, relevance, and compliance of every consumer engagement

            Life Insurance Solutions - offers end-to-end, data insight-driven core capabilities for carriers, distribution, and direct customers across the entire policy lifecycle of life and annuities for both individual and group.

            Verisk Maplecroft - provides intelligence on sustainability, resilience, and ESG, helping people, business, and societies become stronger

            At Verisk you can build an exciting career with meaningful work; create positive and lasting impact on business; and find the support, coaching, and training you need to advance your career. We have received the Great Place to Work - Certification for the 7th consecutive year. We've been recognized by Forbes as a World's Best Employer and a Best Employer for Women, testaments to our culture of engagement and the value we place on an inclusive and diverse workforce. Verisk's Statement on Racial Equity and Diversity supports our commitment to these values and affecting positive and lasting change in the communities where we live and work.

            Verisk Analytics is an equal opportunity employer.

            All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability.


            Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume.

            HR CCPA Privacy Notice.pdf

Keywords: Verisk, Jersey City , Compensation Analyst, Accounting, Auditing , Jersey City, New Jersey

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