Compensation Analyst

Website Inovalon

Inovalon was founded in 1998 on the belief that technology, and data specifically, would empower the transformation of the entire healthcare ecosystem for the better, improving both outcomes and economics. At Inovalon, we believe that when our customers are successful in their missions, healthcare improves. Therefore, we focus on empowering them with data-driven solutions. And the momentum is building.

Together, as ONE Inovalon, we are a united force delivering solutions that address healthcare’s greatest needs. Through our mission-based culture of inclusion and innovation, our organization brings value not just to our customers, but to the millions of patients and members they serve.

Overview:   The Compensation Analyst will be responsible for specialized analysis and administration of the Organization’s compensation program.  The incumbent will play a major role in planning and making recommendations for changes in the programs to ensure that the organization maintains its objectives and stays competitive in the marketplace and remains in compliance. 

Duties and Responsibilities: 

  • Conduct analysis of jobs, hourly wages, salaries, and incentives in order to evaluate internal equity, external competitiveness, and legal compliance of the organization’s pay practices; 
  • Research and interpret compensation laws and applicable regulations and provide recommendations accordingly; 
  • Provide guidance and direction to Business Leadership on complex compensation issues such as salary treatments, job leveling, salary planning activities, internal and external equity studies and job evaluations; 
  • Ensure compliance to all federal and state laws by monitoring and responding to compliance related needs such as review of pay incentives to assure adherence to DOL laws and regulations, exemption status in accordance with FLSA; 
  • Counsel, communicate, and educate managers and staff on compensation policies and procedures; 
  • Benchmark compensation practices to external market and provide recommendations to ensure competitiveness; 
  • Develop consensus on job description creation for new and existing positions and gain consensus through all business units including conducting job evaluation meetings, organizational restructuring position analysis; 
  • Analyze and provide recommendations to various system generated reports to review internal equity, similarly situated employees; 
  • Identify opportunities for automation and build automation to maximize efficiency and accuracy; 
  • Perform complex mathematical computations and analysis as required; review and audit data for accuracy and ensure confidentiality of information as required; 
  • Maintain compliance with Inovalon’s policies, procedures and mission statement; 
  • Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position; and 
  • Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Employer. 

Job Requirements: 

  • Minimum 4 years related experience; 
  • Strong working knowledge of legal perspectives on wages, pay equity and benefits; 
  • Proven ability to apply strategies for attracting, assessing and retaining the best employees through a total rewards approach; 
  • In depth knowledge of EEO, DOL, FLSA, quantitative and qualitative compensation principles; 
  • Ability to generate and analyze reports and spreadsheets i.e. identify and correct errors, evaluate and resolve compliance issues; 
  • Excellent verbal and written communication skills; and 
  • Advanced Microsoft Excel skills (VLOOKUPS, Pivot Tables, Chart creation and graphs) and proficient Word and Power Point skills.  

Education: 

  • Bachelor’s degree in related field or equivalent experience required. 

Physical Demands and Work Environment: 

  • Sedentary work (i.e. sitting for long periods of time); 
  • Exerting up to 10 pounds of force occasionally and/or negligible amount of force;  
  • Frequently or constantly to lift, carry push, pull or otherwise move objects and repetitive motions; 
  • Subject to inside environmental conditions; and 
  • Travel for this position will include less than 5% locally usually for training purposes. 

The actual base pay offered may vary depending on multiple factors including, but not limited to, job-related knowledge/skills, experience, business needs, geographical location, and internal equity.  At Inovalon, it is not typical for an individual to be hired at or near the top end of the range for their role, and compensation decisions are dependent upon the facts and circumstances of each position and candidate.

Base Compensation Range
$62,373$85,000 USD

Studies have shown that women and people of color are less likely to apply for jobs unless they believe they meet every one of the qualifications listed in a job description. If you don’t meet every qualification listed but are excited about our mission and the work described, we encourage you to apply regardless.  Inovalon is most interested in finding the best candidate for the job and you may be just the right person for this or other roles.

By embracing diversity, equity and inclusion we enhance our work environment and drive business success. Inovalon strives to reflect the diversity of the communities where we operate and of our clients and everyone whom we serve. We endeavor to create a culture of inclusion in which our associates feel empowered to bring their full, authentic selves to work and pursue their professional goals in an equitable setting. We understand that by fostering this type of culture, and welcoming different perspectives, we generate innovation and growth.

Inovalon is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. We also consider qualified applicants regardless of criminal histories, consistent with legal requirement.

The Company maintains a drug free work environment for all of its associates, which includes employees, contractors and vendors. It is unlawful for associates to manufacture, sell, distribute, dispense, possess or use any controlled substance or marijuana in the workplace and doing so will result in disciplinary action, up to and including termination of employment or the contracted relationship.

To review the legal requirements, including all labor law posters, please visit this link

To apply for this job please visit www.inovalon.com.