Compensation and 401k Benefits Analyst

Why Broadway Bank:

We are one of the largest independently owned banks in Texas with offerings in personal and private banking, wealth management, business banking and mortgage lending.

Position Overview:

The Compensation and 401(k) Benefits Analyst support the administration, analysis, and continuous improvement of the bank''s compensation and retirement benefits programs. This role conducts market pricing, salary benchmarking, and compensation analyses to evaluate the competitiveness and equity of the bank''s pay practices. The position analyzes internal and external market data to develop recommendations for base pay, incentive programs, and salary structures while supporting the administration and compliance of compensation, 401(k), and deferred compensation programs. Working closely with HR and business leaders, this role helps ensure compensation and benefits programs remain competitive, compliant, and aligned with organizational objectives.

Essential Functions:

• Support the annual merit increase, equity adjustments, promotions, bonus planning, salary structure revisions, ensuring competitive, equitable, and legal compliance.
• Conduct job evaluations, market reviews, and classification analyses for competitive positioning and compliance, maintaining up-to-date and comprehensive job descriptions.
• Collect, analyze, and report on market data, providing insights and recommendations on market pricing and pay gaps to management.
• Formulate annual merit budget recommendations, analyze off-cycle spending, peer equity, and propose adjustments to management.
• Generate and distribute detailed annual compensation statements to employees and executives, enhancing transparency and understanding of total rewards.
• Manage incentive plans, ensuring clear communication, accurate documentation, and coordination with payroll for timely payments.
• Evaluate and refine the total compensation and rewards strategy, identifying opportunities to enhance competitiveness and talent retention.
• Prepare and present strategic insights and updates to executives and the Board, including compensation strategy and investment opportunities.
• Lead the implementation of approved compensation program changes, continuously seeking improvement and impactful enhancements.
• Provide essential training and resources to HR and management on compensation practices, enhancing organizational capabilities.
• This position may require travel within the Bank's geographic area.