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Compensation Analyst

Job ID: 1007801
Date Posted: Aug 5, 2022
Department ID: MI1001 Human Resources - General
Company: Maguire Insurance Agency Inc

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Job Description

Marketing Statement

Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries.   We have been in operation since 1962 and are nationally recognized as a member of  Ward's Top 50 and rated A++ by A.M.Best.

Duties

We are looking for a Compensation Analyst to join our team.

Summary:
Provides a full range of compensation analysis and program administration services, including salary and variable pay administration, job classification and evaluation, survey participation, and job description development.  Researches, collects and analyzes internal and external data for benchmarking, compensation reporting, and decision making.  Assists in the administration of compensation programs such as the annual compensation review process, incentive calculations, and performance management.


A typical day will include the following:

Evaluates existing and newly created positions to determine placement in the appropriate salary grade based on competitive market data and internal comparisons and conducts exemption testing for compliance with the Fair Labor Standards Act.

Participates in salary surveys and performs competitive market analysis and benchmarking for salary review and planning.

Assists business managers in developing and writing job descriptions using job questionnaires, interviews with position incumbents, and discussions with management or supervisory personnel; updates job profiles in PeopleSoft.

Participates in the annual compensation process including updating project plans/timelines, assists with development of employee communication materials, preparing employee data for upload into merit planning system (CompXL); analyzes salary and models compensation recommendations to aid the decision-making process and to support PHLY’s pay for performance culture.

Completes other assigned projects and activities as assigned.

Qualifications

  • Minimum of 3 years Compensation experience
  • Demonstrated knowledge of compensation theory and concepts including administration of compensation programs including job evaluation, performance management, salary surveys and Federal, State and local laws and regulations regarding compensation.
  • Strong analysis/problem-solving abilities.
  • Intermediate to advanced skill in MS Excel
  • Strong oral and written communication.
  • Knowledge of human resources information systems such as PeopleSoft.
  • Ability to analyze, evaluate, and develop job descriptions and appropriately classify positions using market data.
  • Ability to analyze survey data and make appropriate recommendations.
  • Ability to establish and build healthy working relationships including partnering with clients, vendors and peers.
  • Ability to maintain confidential information and materials; knowledge of practices and policies governing disclosure of information about the organization, its business activities, and employees.
  • Bachelor’s Degree and CCP designation (preferred).
  • Insurance industry knowledge is helpful but not required.

EEO Statement

Tokio Marine Group of Companies (including, but not limited to the Philadelphia Insurance Companies, Tokio Marine America, Inc., TMNA Services, LLC, TM Claims Service, Inc. and First Insurance Company of Hawaii, Ltd.) is an Equal Opportunity Employer.  In order to remain competitive we must attract, develop, motivate, and retain the most qualified employees regardless of age, color, race, religion, gender, disability, national or ethnic origin, family circumstances, life experiences, marital status, military status,  sexual orientation and/or any other status protected by law. 

Benefits

We offer a comprehensive benefit package, which includes tuition reimbursement and a generous 401K match. Our rich history of outstanding results and growth allow us to focus our business plan on continued growth, new products, people development and internal career opportunities.  If you enjoy working in a fast paced work environment with growth potential please apply online.

Additional information on Volunteer Benefits, Paid Vacation, Medical Benefits, Educational Incentives, Family Friendly Benefits and Investment Incentives can be found at  https://www.phly.com/Careers/default.aspx

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