Compensation Manager - Fair Lawn, NJ

Job Description

Job Description

Summary: The Compensation Manager works closely with partners and business leaders to implement and administer all compensation programs including equity and deferred compensation. This role provides guidance and drives strategy to effectively meet organizational objectives while ensuring internal equity, external competitiveness, and compliance with applicable laws.

Job Responsibilities:  

Compensation Management

• Lead implementation and administration of broad-based compensation programs.
• Maintain pay structures and market pricing using salary surveys and benchmarking tools.
• Conduct compensation research, analytics, and modeling to support total rewards strategies.
• Recommend enhancements and automation to improve processes and maintain competitiveness.
• Develop clear communication and documentation for HR partners and leaders.
• Lead job evaluation, benchmarking, and market pricing activities.
• Serve as a subject matter expert in all broad-based compensation programs.
• Develop process documentation, instructions, and resources to assist HR business partners, Talent Team, and leaders as it relates to compensation.
• Manage commission plans and administers calculations for payroll.

Performance Management and Incentive Programs

• Administer the merit program, ensuring alignment with performance management and business strategy.
• Provide guidelines, tools, and training to support managers in merit decision-making.
• Analyze merit cycle data to refine program effectiveness.
• Administer quarterly and annual scorecards in support of the PAIP program.
• Partner with business leaders on ensuring proper dissemination of scorecards and communications, and assist employees in understanding scorecards and pay for performance philosophy.
• Manages annual incentive programs both Exempt and Non-Exempt

Restricted Stock Award, ESOP and Equity Programs

• Administer equity and deferred compensation programs, including Restricted Stock, ESOP, and related plans.
• Oversee administration platforms and transactions (grants, exercises, releases, terminations).
• Monitor share pool levels and ensure compliance with regulatory requirements.
• Responsible for analysis and evaluation of competitive market information and research of external labor market trends.

Reporting and Compliance

• Design and deliver reporting, analytics, metrics, and scenario analyses to assess the effectiveness of compensation programs and support decision-making.
• Ensure adherence to federal, state, and local compensation laws and regulations.

Leadership and Collaboration

• Partner with HR leadership and Bank leaders to advise on compensation decisions, job leveling, and promotions.
• Lead, mentor, and develop direct reports and team.
• Exercise the usual authority of a manager including staffing, performance evaluations, promotions, training, salary recommendations, terminations, and budget approval.

Other Responsibilities

• Perform other duties as assigned.

Required Qualifications:  

• Bachelor’s degree in Human Resources, Business, Finance, or related field.
• Minimum 5+ years of compensation experience, including program management, with 10-15 years overall experience.
• Experience with ADP is required

Preferred Qualifications:  

• Master's degree or related professional certifications (e.g., CPP) preferred.

Core Competencies/Skills:

• Expertise in equity and incentive plan administration.
• Strong communication skills and ability to influence within all levels of the organization.
• Strong knowledge of compensation theory and relevant laws (FLSA, Equal Pay Act, ADA).
• Proven ability to design and implement compensation programs aligned with strategic goals.
• Experience in a publicly traded bank and regulatory reporting.
• Excellent project management skills.
• Strong leadership and interpersonal skills with the ability to work across all levels of the organization.
• Advanced Microsoft Excel skills with abilities to build pivot tables, formulas including V-Lookup and strong skills in other Microsoft Office Suite applications.

Columbia Bank offers the following benefits:

• Medical, Dental, Vision and Rx which are contributory.
• Bonus programs.
• Employee Stock Option Program (ESOP).
• Life Insurance, Long Term Disability and Accidental Death and Dismemberment (LTD&AD&D).
• Paid Time Off (PTO) which includes Personal and Vacation Time.
• Paid Sick Time.
• Bank Holidays.
• Employees may participate in the 401k program.

Schedule:

Hybrid; 3 days in the office and 2 days work from home based on business need.