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Senior Pay Strategy Analyst

2 months ago


Old Toronto, Ontario, Canada Thomson Reuters Full time

Reporting to the Vice President of Compensation, the Senior Compensation Analyst will play a pivotal role in the creation and execution of extensive analytical solutions and tools. This position will focus on generating both standardized and customized reports from various data sources, equipping HR and other Reward team members with the necessary insights and data to inform decisions regarding pay governance and strategy.

As a key member of the Design & Analytics team, the Senior Compensation Analyst will operate with a significant level of independence, tackling a wide array of challenges and data sources to support the Consultants and Vice President. The incumbent will collaborate with colleagues and team leadership to pinpoint and coordinate opportunities aimed at enhancing the overall effectiveness of the Total Reward team, which includes automation, standardization of enterprise-wide processes, and contributing to the integration of AI in the team's operations.

This role entails coordinating and conducting comprehensive analyses of global market data to aid in the formulation and implementation of competitive pay ranges, ensuring alignment with Thomson Reuters' Global Pay programs and statutory compliance. While collaborating with the Design & Analytics team to develop pay ranges, the job holder will be responsible for job matching, survey participation, managing vendor relationships, and sourcing and analyzing relevant market data in line with Thomson Reuters' global compensation philosophy. The incumbent will also partner with other Compensation team members to execute the Annual Compensation Cycle for the organization.

The Senior Compensation Analyst will closely collaborate with and provide expertise to fellow Compensation team members, offering analytical and operational support. The role will be performed under the guidance of the Vice President of Compensation, relying on general direction and established precedents to fulfill responsibilities while actively seeking and implementing opportunities to enhance the team's efficiency and service delivery. The role holder will maintain close communication with and support the team's Reward Consultants.

The ideal candidate for the Senior Compensation Analyst position will possess substantial compensation analytical experience and a thorough understanding of industry practices, company policies, and procedures. Proficiency in quantitative analysis and data interpretation to draw logical conclusions is essential. Familiarity with process automation and the application of emerging technologies will be considered an advantage.

Key Responsibilities

In the role of Senior Compensation Analyst, you will:

  • Serve as the primary subject matter expert for the Compensation Design and Analytics team, guiding colleagues and coordinating the team's annual workflow, while leading smaller projects or reviews.
  • Ensure the integrity of compensation data, assist with system configurations and upgrades, and maintain and update plan documents as needed.
  • Structure, analyze, and interpret substantial datasets using statistical methodologies.
  • Address inquiries and coordinate the dissemination of analyses and insights.
  • Develop analytical models and reports utilizing Excel, Power BI, or other relevant tools to provide insightful and consistent data analyses for expedited decision-making.
  • Utilize HRIS and Compensation Administration systems to execute queries and investigate issues.
  • Specify and conduct audits for data validity and governance purposes.
  • Provide data and insights to support the annual salary planning process.
  • Contribute significantly to the development of country-specific pay structures.
  • Coordinate and participate in salary survey engagements and summarize market data for broader review within the Rewards Function.
  • Assist with compliance and testing related to Sarbanes-Oxley.
  • Manage vendor accounts and invoices.
  • Identify and provide opportunities for additional pay research and analyses as appropriate.

Qualifications

You're a strong candidate for the Senior Compensation Analyst role if you:

  • Exhibit proven analytical and quantitative data skills, with advanced capabilities in Excel and Access being ideal.
  • Possess solid experience in Compensation and related Data Analytics, with a strong understanding of major market data providers.
  • Are proficient in HR database queries (e.g., Workday) and have a solid grasp of Human Resources functions or disciplines.
  • Demonstrate attention to detail with a commitment to quality, approaching assignments strategically and managing them to completion.
  • Exhibit excellent organizational skills, capable of coordinating your own and the team's work across multiple concurrent tasks.
  • Communicate effectively within the Compensation team and when collaborating with the broader People team.
  • Have a strong command of Microsoft business applications such as Excel, PowerPoint, and Word.
  • Typically hold a Bachelor's degree and possess 5+ years of relevant Compensation experience.

Accessibility

As a global organization, we value diversity of culture and thought to achieve our objectives. We seek talented, qualified employees across all our operations worldwide, regardless of race, color, sex/gender, including pregnancy, gender identity and expression, national origin, religion, sexual orientation, disability, age, marital status, citizen status, veteran status, or any other protected classification under applicable law. Thomson Reuters is proud to be an Equal Employment Opportunity/Affirmative Action Employer providing a drug-free workplace.

We also make reasonable accommodations for qualified individuals with disabilities and for sincerely held religious beliefs in accordance with applicable law.