The Compensation Analyst provides support to the design, development, implementation, communication and administration of total rewards programs, ensuring programs are aligned with Patelco's Total Rewards Strategy. This role provides subject matter expertise, knowledge and support on all compensation related matters including organization design, job evaluation, survey submission and analysis, variable pay programs, sales compensation, recognition/reward programs and executive compensation programs. The Compensation Analyst works in a collaborative environment with the Human Resources Team and other department leaders and fosters a culture of teamwork and support across the credit union
Participates in the design, development, and implementation of compensation models, employee recognition/reward programs, and initiatives that support organization effectiveness strategies by conducting research, drafting content and correspondence for new and/or revised structures, programs or initiatives.
Participates in compensation and best practice benchmarking surveys for employees, management and executives including short term and long term incentive programs, and deferred compensation plans; provides reports on compensation market trends through research and analysis of formal and informal salary surveys, and other third party vendors/research methods ensuring competitive positioning and internal equity.
Designs/develops sales incentive plans and commission based programs in collaboration with HR Business Partners and Leaders. Performs modeling and costing analysis of sales compensation related data in collaboration with Finance and Business Leaders to monitor and evaluate sales plans. Ensures incentives and commissions are paid in accordance with plan provisions.
Participates in organizational design activities, completes job evaluations on new or reclassified roles, reviews benchmark market data, and makes recommendations for salary range and job classification and ensures applicable changes are applied to salary ranges.
Assists HR Business Partners in the development of position profiles including soliciting feedback/input, editing, verbiage for conformity to standards, reviewing job content for job leveling/grading.
In collaboration with HR team members, leads and administers the annual compensation planning process including analyzing and modeling/costing scenarios, develops processes, tools, guidelines communications, etc. Conducts final review and analysis of all company- wide recommendations, ensuring approvals are received.
Oversees the administration and reviews specific company reward & recognition programs including responsibility for evaluating and reporting nominations and awards; managing program vendors and consultants.
In partnership with HR team members, develops and implements education/awareness, training, or job aids to support the company's compensation, reward and recognition activities.
Evaluates current and new total reward programs; recommends changes or enhancements to support business goals, increasing efficiencies and employee satisfaction.
Develops and maintains relationships with HR Business Partners to ensure solutions support to business units.
Participates in Patelco's projects, initiatives as assigned.
Understand and comply with all applicable federal and state laws and banking regulations (including those related to OFAC and Bank Secrecy Act / Anti-Money Laundering compliance) and Patelco Credit Union's policies and procedures.
Bachelor's degree in Human Resources, Business Administration or a related field or an equivalent combination of education and experience
3 years progressively responsible Human Resources experience with a minimum of 2 years specialized experience in compensation administration.
Superior attention to detail and accuracy, excellent problem solving, analytical and research skills.
Proven organizational skills, including balancing multiple responsibilities and effectively meeting deadlines. Able to work independently and in a team environment; works collaboratively.
Excellent written and oral communication skills. Ability to effectively communicate with all levels in organization. Able to deliver presentations to both small and large groups.
Display a high degree of confidentiality and professional judgment.
Certified Compensation Professional (CCP) designation preferred or working towards completion
Excellent PC skills required; Microsoft Office with a focus on Excel.
Sound knowledge of concepts, principles and practices of compensation rewards/recognition.
Keep up-to-date with compensation trends within and outside the industry to identify and adapt changes to current processes to minimize and/or avoid exposure to potential risks
Develop HRIS/HRMS reports, SQL queries and create spreadsheets using MS Excel
Patelco Credit Union is an Equal Opportunity Employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status or disability.
Patelco Credit Union