Sr Compensation Analyst
Flagstar Bank 194 reviews - Troy, MI

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Company Overview

Flagstar Bank, headquartered in Troy, Michigan, is a full-service bank with 111 branches in communities across Michigan. Chartered in 1987 as a federal savings bank, today Flagstar has assets of $14.0 billion. We are the largest banking company headquartered in Michigan, the ninth largest mortgage originator in the country, and one of the nation's top 15 largest savings banks. We offer a wide range of products and services for individuals and businesses — all delivered with award-winning service. From consumer loans and credit cards, to treasury management and specialty lending, we bring the full resources of a commercial bank to our customers.

We like to pride ourselves on being a different employer as well. You'll find a dynamic work environment where employees of all levels interact with one another, exchange ideas, and grow personally and professionally. People power our business.


Under general supervision of the Director of Compensation, this position is responsible for salary and bonus programs and support of other compensation programs as appropriate. Responsible for creating and maintaining job classification system along with grade levels, salary surveys, benchmarking, etc. Provides expertise and support to the HR team including advice on FLSA, market adjustments, and equity reviews. Develops, implements and maintains applicable compensation systems.

The Sr. Compensation Analyst will work closely with the compensation team and the HR Business Partners.

Job Responsibilities

Support any project implementations.

Administer annual salary review and bonus programs including development of salary budgets, salary increase guidelines, training materials, and executive reporting.

Manage salary survey process, including determination of survey needs, survey selection, and survey analysis and completion.

Research, analyze, and compile various compensation reports.

Assist in the development of compensation programs including variable pay, long term incentive, and executive compensation programs.

Provide compensation consulting services to HR staff including market analysis and job evaluation.

Assist with development and/or updates to the compensation and classification systems including pay structures, geographic differentials, and benchmarking.

Develop and document procedures to streamline processes and ensure compliance with regulatory requirements.

Develop education programs and conduct training.

Work with HRIS to ensure that the HR system meets compensation needs.

Develop and maintain recognition programs.

Complete additional HR projects or duties as assigned

Job Requirements

Bachelor’s Degree in Business, Finance, Accounting or HR is a required.

Extensive working and practical knowledge in a wide variety of compensation methods, theory, practices, and techniques

5-7 years of experience in similar role as Compensation Analyst – preferably.

Must be proficient in MS Word and PowerPoint, and have superior skills in Excel

Strong compensation knowledge including compliance with the state and federal laws, knowledge of HR systems, and experience with deferred compensation and incentive programs.

CCP Preferred.

Key Competencies

Ability to work independently under general supervision

Strong written and oral communication skills

Ability to multitask and manage a fluctuating workload

Ability to work in a team environment

Ability to handle confidential and sensitive information with discretion

Strong attention to detail

Outstanding follow-through skills


Flagstar Bank is an Equal Opportunity Employer

Required Skills

Required Experience

About this company
194 reviews
Flagstar Bancorp is the holding company for Flagstar Bank, which operates about 115 branches (including some in retail stores) in...