The Compensation Analyst develops, implements, and administers base and variable pay compensation programs along with job description development, maintenance and market pricing analysis. Supports administration of the compensation planning and performance management programs along with the Credit Union's various bonus/incentive programs. Assures compensation programs are consistently administered in compliance with company policies and government regulations.
Assists in the design of compensation programs and policies to support the recruitment, development and retention of a high-performing, diverse workforce.
Partners with Talent Acquisition to determine appropriate job offers.
Develops and maintains job descriptions; determines market pricing and exemption status. Ensures job descriptions are completed for all new positions and published; manages job description warehousing and job code tracking.
Assists in the design and implementation of compensation planning system and processes. Tests and validates system functionalities and drafts change management, training, and communication materials. • Supports the annual compensation planning activities, including merit increases and bonus/annual incentive award calculations. Generates and assists in the distribution of compensation statements.
Works directly with managers to assist in the preparation, approval and processing of promotions and offcycle adjustments.
Serves as technical expert in the area of compensation; interprets and provides advice and guidance to managers.
Assists in the design, evaluation, and maintenance of performance management systems and award programs, including incentive plans.
Evaluates and analyzes salary data, determines pay grades, and conducts or participates in compensation surveys.
Conducts market analysis and research to support compensation decisions and program recommendations to ensure competitive position (internal/external) for pay, pay for performance and retention, and makes recommendations to management.
In conjunction with outside consultants, assists with the market pricing and pay analysis for executive positions. • Ensures pay structure is appropriate and continually updated.
Works with HRMS and stakeholders to ensure that the system meets compensation needs and is updated to reflect changes to salary structures, bonus programs, etc.
Provides support to ad-hoc requests and HR analysis as necessary.
Stays abreast of legislative activities and regulatory changes, evaluating impact to compensation programs and ensures company compliance with federal and state laws governing compensation practices.
Demonstrates ability and progressive experience in the analysis, design and administration of compensation programs, preferably in the financial services industry, typically with 3 or more years of related experience.
Strong analytical skills and experience in manipulating and reporting data; ability to summarize and communicate complex information for different audiences including executives.
Knowledge of Human Resources principles and best practices in compensation including job analysis/evaluation.
Comprehensive knowledge of applicable Federal, State, and local rules, regulations and/or statutes pertaining to payment of wages, compensation plans and job exemption status.
Must be highly organized and able to work in a deadline driven, frequently changing environment.
Demonstrated ability to work under pressure, appropriately prioritize and organize work effectively.
Excellent oral, written and presentation communication skills including excellent facilitation skills and the ability to create executive level communications and presentations.
Ability to maintain strict confidentiality and ability to work with all levels of employees and management.
Thorough knowledge of HRIS, Word, Excel, PowerPoint. Advanced Excel skills (e.g., vlookup and pivot table) required.
Bachelor's degree in Human Resources, Business, Finance or related study preferred. • World at Work Certified Compensation Professional (CCP) or similar certification preferred.
Must also demonstrate conduct consistent with our Corporate Values:
Practice open Communication with all levels;
Be Accountable by taking ownership of customer issues and responsibility for one's actions;
Foster Teamwork by cooperating and collaborating with other employees;
Seek ways to make the workplace Fun for oneself & others;
Conduct oneself with Integrity by being honest, trustworthy and ethical in all work activities and interactions;
Work with a Service Orientation by having a genuine concern for the needs of one's customers and by being friendly, professional and following through on commitments; and
Demonstrate Humility in all interactions and remember to leave one's ego at the door when one arrives to work.
Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.