About the Company
The Commonwealth Bank of Australia (CBA) is one of Australia’s leading financial institutions, providing a full range of banking and financial services. With a rich history of over 100 years, CBA is committed to delivering exceptional customer service, fostering innovation, and investing in its people. We are a values-driven organization dedicated to making a positive impact on the communities we serve across Australia and beyond.
Job Description
We are seeking a highly motivated and analytical Compensation & Benefits Analyst with a strong HR focus to join our dynamic team in Townsville. In this role, you will play a crucial part in designing, implementing, and administering our compensation and benefits programs, ensuring they are competitive, compliant, and aligned with our strategic goals. You will provide expert analysis, support HR business partners, and contribute to a fair and rewarding employee experience.
Key Responsibilities
- Conduct comprehensive market research and benchmark compensation and benefits packages to ensure internal equity and external competitiveness.
- Participate in annual salary review processes, bonus scheme administration, and long-term incentive plan management.
- Analyze compensation data, prepare reports, and present findings to HR leadership and business units.
- Support the design, implementation, and communication of various employee benefits programs, including health, superannuation, and leave policies.
- Ensure all compensation and benefits programs comply with relevant local and national legislation and internal policies.
- Collaborate with HR Business Partners and other stakeholders to provide expert advice and support on compensation and benefits-related matters.
- Assist in the development and maintenance of job descriptions, job evaluations, and salary structures.
- Manage and maintain data integrity within HRIS (Human Resources Information System) for compensation and benefits modules.
- Prepare ad-hoc reports and analysis as required by management.
Required Skills
- Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.
- Minimum of 3 years of experience in Compensation & Benefits or HR Analytics.
- Strong analytical skills with proficiency in Microsoft Excel (VLOOKUP, pivot tables, advanced formulas).
- Solid understanding of compensation principles, market benchmarking, and job evaluation methodologies.
- Familiarity with relevant Australian employment law and regulations pertaining to compensation and benefits.
- Excellent communication and presentation skills, with the ability to convey complex data clearly.
- Demonstrated ability to maintain confidentiality and handle sensitive information with discretion.
- Experience with HRIS systems (e.g., Workday, SAP SuccessFactors).
Preferred Qualifications
- Postgraduate qualification in HR, Business, or a related discipline.
- Certification in Compensation (e.g., CCP) or Benefits (e.g., CBP).
- Experience working in the financial services industry.
- Strong project management skills and ability to manage multiple priorities effectively.
Perks & Benefits
- Competitive salary and performance-based bonuses.
- Comprehensive health and wellness programs.
- Generous superannuation contributions.
- Employee assistance program (EAP).
- Professional development opportunities and career growth pathways.
- Flexible work arrangements where applicable.
- Staff discounts on banking products and services.
- Supportive and collaborative team environment.
How to Apply
If you are interested in this position, please click the "Apply Now" button below. To ensure your application is properly considered, please prepare the following:
- An up-to-date Resume or CV
- A brief cover letter summarizing your experience and motivation
Applications are reviewed on a rolling basis. Only shortlisted candidates will be contacted for an interview.
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