Senior Compensation Manager

Job Description

Job Description

About the organization
A well-established, community-focused financial institution headquartered in the Bay Area, known for its personalized banking services and long-standing commitment to local communities. The organization offers a full range of financial products including personal and business banking, mortgage lending, and wealth management. It distinguishes itself through relationship-based service, local decision-making, and support for regional economic growth through philanthropic initiatives and community engagement.

Position Overview
The Sr. Manager, Compensation is responsible for the development, implementation, and management of compensation programs that support the organization’s strategic objectives and talent management priorities. This role plays a key part in ensuring market competitiveness, pay equity, and compliance with relevant regulations. The Sr. Manager will partner closely with HR, Finance, and business leaders to analyze compensation data, develop insights, and support initiatives that attract, retain, and reward top talent.

Role and Responsibilities:

1. Compensation Strategy & Program Management

• Support the development and refinement of compensation strategies in alignment with company goals and market practices.
• Manage the implementation and administration of base pay, short-term incentive plans, and other variable compensation programs.
• Partner with the SVP, HR and CHRO to assess the effectiveness of compensation programs and make recommendations for improvements.

2. Market Analysis & Benchmarking

• Lead benchmarking efforts using industry surveys and data to evaluate the competitiveness of the organization’s pay structures.
• Perform compensation modeling and analytics to support decision-making and compensation design.
• Provide insights and recommendations based on market trends and internal data analysis.

3. Job Evaluation & Pay Structure

• Oversee job analysis and job evaluations to ensure appropriate leveling and internal equity.
• Maintain and update salary structures, job families, and career frameworks across departments.
• Evaluate and approve job offers and promotions to ensure alignment with compensation guidelines.

4. Compliance & Risk Management

• Ensure compensation practices comply with federal, state, and local laws and regulatory requirements (e.g., FLSA, Equal Pay Act).
• Assist in preparing data and documentation for pay equity audits, internal reviews, and external reporting.

5. Performance & Incentive Planning

• Collaborate with HR business partners and leadership in the planning and execution of annual compensation cycles (Merit, Bonus, Promotions, SERP, and ESOP).
• Provide analytics and recommendations on performance-based pay decisions.
• Assist with the design and administration of variable pay programs that support a performance-driven culture.

6. Stakeholder Partnership & Communication

• Serve as a trusted advisor to HR business partners and business leaders on compensation matters.
• Support employee communications and training on compensation philosophy and programs.
• Work closely with Finance and HRIS teams to ensure accurate reporting, budgeting, and system integration.

Qualifications

• Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field (Master’s or relevant certifications preferred).
• 6+ years of experience in compensation, with at least 2 years in a managerial or senior-level role.
• Strong understanding of compensation design, market pricing, salary surveys, and program implementation.
• Experience managing or supporting complex compensation cycles and job architecture frameworks.
• Solid analytical and problem-solving skills with a high attention to detail.
  Proficient in Excel (e.g., pivot tables, formulas, data modeling) and compensation tools/systems (e.g., PayScale. Mercer, ADP, Cornerstone, Workday, etc.).
• Strong interpersonal and communication skills, with the ability to influence stakeholders at all levels.
  Ability to manage multiple priorities in a fast-paced, dynamic environment.
• Certified Compensation Professional (CCP) or similar industry-recognized certifications preferred.

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