Compensation and Benefits Analyst

Job Details

Job Description:

Job Summary

We are seeking a skilled and experienced Compensation and Benefits Analyst to join Altera. The successful candidate will lead the design of compensation and benefits programs based on a thorough knowledge of plan features, funding mechanisms, and government regulations. This role is essential to meet organizational objectives and provide value to employees.

Key Responsibilities

1. Design of Compensation and Benefits Programs: Lead the design of compensation and benefits programs, ensuring alignment with organizational objectives and providing value to employees. This includes a thorough understanding of plan features, funding mechanisms, and government regulations.
2. Position Evaluations and Job Classifications: Conduct position evaluations and job classifications. Assess the budgetary impact of compensation decisions and ensure compliance with regulations and labor laws.
3. Market Research and Analysis: Research and analyze competitive compensation and benefits practices in the job market to inform program design and adjustments.
4. Annual Salary Review Program: Assist and collaborate in the planning, coordination, facilitation, administration, and reporting of the annual salary review program for regular staff employees.
5. Compliance and Governance: Assist with compliance and governance of all compensation plans and programs. Identify risks and participate in various audits, both internal and government-mandated.
6. Compensation Tools and Resources: Design and apply compensation-related tools, processes, and resources for managers and employees. Provide consulting and counsel in support of business-aligned compensation leaders regarding executive compensation-related issues.
7. Benefits, Leave of Absence and Retirement Programs Administration: Serve as the point of contact to administer Benefits, Leave of Absence and Retirement programs/plans. Manage relationships with external vendors and/or consultants on the design, strategy, and continual execution of these programs.
8. Coordination with Plan Administrators: Coordinate with plan administrators, insurance carriers, and the payroll office in designing a comprehensive benefits package to meet the needs of the workforce.
9. Legal Compliance and Audits: Assist with compliance and governance of all compensation and benefits plans and programs. Identify risks and participate in various internal and government-mandated audits and testing. Partner with Legal to prepare responses to various audiences, including plan participants/employees and plan committees.

Qualifications

1. Bachelor's degree in Human Resources, Business Administration, or related field.
2. Proven experience as a Compensation and Benefits Analyst or a similar role.
3. Strong understanding of compensation and benefits plan design, funding mechanisms, and government regulations.
4. Experience in conducting position evaluations, job classifications, and assessing the budgetary impact of compensation decisions.
5. Proficiency in researching and analyzing competitive compensation and benefits practices in the job market.
6. Excellent knowledge of compliance and governance of compensation and benefits plans.
7. Strong analytical and problem-solving skills.
8. Exceptional interpersonal and communication skills.
9. Ability to coordinate with plan administrators, insurance carriers, payroll offices, and external vendors.
10. Experience with legal compliance and participation in audits is an advantage.

Preferred Qualifications

1. Certification in Compensation and Benefits (CCP, CBP, or equivalent).
2. Experience in a multi-national corporation.
3. Proficiency in HRIS and compensation management software.

Job Type

Regular

Shift

Shift 1 (Malaysia)

Primary Location:

Penang 15

Additional Locations:

Posting Statement

All qualified applicants will receive consideration for employment without regard to race, color, religion, religious creed, sex, national origin, ancestry, age, physical or mental disability, medical condition, genetic information, military and veteran status, marital status, pregnancy, gender, gender expression, gender identity, sexual orientation, or any other characteristic protected by local law, regulation, or ordinance.