Compensation Specialist (Remote) at Newfront Insurance
Remote / United States of America
At Newfront, we’re building the modern insurance experience. By relying on our strengths as an industry-leading professional operation and an industry-leading business operations and technology company, we will address and solve these challenges. We are transforming the delivery of risk management, employee experience, insurance, and retirement solutions through our tech-enabled, full-service brokerage.
Driving our ambition is a simple but powerful culture. We’ve created something special; an innovative company with a fulfilling and award-winning culture based on Diversity, Equity, and Inclusion and the core tenets of Work, Love, and Play.
We believe in empowering people, from our clients to our team members. We value balanced lives and are passionate about creating a culture of wellness that results in healthier, happier, more productive employees, and more successful clients.
SUMMARY: The Compensation Specialist is responsible for managing the compensation function for Newfront and its departments. The Compensation Specialist plans, develops and implements new and revised compensation programs, policies and procedures to align with the company's goals and competitive practices. This position is also responsible for ensuring that company compensation programs are consistently administered in compliance with internal policies and government regulations.
This role will partner with the People Operations team, Senior Leaders, and external partners, to ensure compensation strategies are in line with the organization’s compensation philosophy, market competitiveness and effectively balance elements of compensation. The role will also ensure that data systems and reporting and analytics support the compensation programs. This position includes hands-on focus on analysis, evaluation, implementation, and administration of employee compensation programs designed to attract, motivate, and retain employees.
FROM THE TEAM: Being a part of Newfront’s People Operations team affords you these opportunities - and more. We are a tight knit and smart-working team dedicated to helping our team Work, Love and Play to the highest and best of their abilities. In the role, you would be an integral part of building the Newfront team for success now and in the future. Since we are growing as an organization, your career can grow with us too.
- This position is a salaried, exempt and full-time position.
- This position may be remote and/or can work from any of Newfront’s office locations. #LI-Remote
- This position will report to: Chief People Officer.
WHAT YOU'LL BE DOING
- Support the overall compensation philosophy and compensation structure for the organization, in close partnership with the Compensation Committee, People Operations team and others. Ensures ongoing effectiveness of the structure given labor market changes.
- Partners with the Finance Department in management of compensation plans as well as in annual merit and incentive programs. Performs modeling of various incentive and merit programs to determine effective plan design.
- Works with Compensation Consultants and expert advisors in the development of Compensation Planning.
- Designs Compensation related metrics and dashboards based on the strategic People plan, POps team input and business needs. Conduct compensation benchmarking and market pricing activities
- Manages the development, implementation, and administration of compensation programs. Assist in the company’s annual salary increase, variable pay, and equity programs
- Monitors the effectiveness of existing compensation practices and recommends changes that are cost-effective and consistent with compensation trends and corporate objectives.
- Provides advice to corporate staff on pay decisions, policy interpretations, and job evaluations.
- Designs creative solutions to specific compensation-related programs and incentive plans.
- Develops techniques for compiling, preparing and presenting data.
- Oversees the participation in salary surveys and monitors salary survey data to ensure corporate compensation objectives are achieved.
- Ensures compliance with federal, state and local compensation laws and regulations.
To perform this position successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
WHAT YOU BRING TO THE TABLE
- Strong analytical and problem-solving ability, with attention to detail.
- Highly proficient with MS Office suite, especially Excel, PowerPoint and Word.
- Experience with compensation administration tools and platforms.
- CCP or applicable coursework preferred but not required.
- Must be able to think strategically, identify key business issues, and generate actionable solutions from insights.
- Knowledge of local, state and federal employment laws and regulations.
- Excellent oral, written communication, presentation, and facilitation skills.
- Ability to multi-task efficiently and to be flexible with ever-changing priorities and deadlines.
- Must work well with others in a fast-paced, customer service oriented environment and be responsive to co-workers and colleagues. Must also work independently, with minimal supervision and have the ability to take initiative and create solutions.
- Strong organizational skills and attention to detail.
- Active participation as a Newfront team member, suggesting improvements in processes and procedures and ways to make the organization better.
EDUCATION AND EXPERIENCE
- Minimum 5 years of experience as a Compensation Analyst or Specialist.
- Deep experience with complex incentive designs across short-term, long-term and executive incentives.
PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Requires moderate to long periods of time sitting at a desk, using computer monitor and keyboard, speaking on the phone, etc.
- Requires short to moderate (intermittent) periods of time standing or walking, often to and from meetings that require sitting.
- Requires very occasional lifting of objects (mostly documents, lap top equipment, etc.) that weigh fewer than 20 pounds.
Newfront is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
Newfront provides reasonable accommodations for qualified individuals with disabilities in our job application procedures. If you need assistance or an accommodation due to a disability, you may contact us at email@example.com.
NOTE: The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.