Compensation Analyst

Truliant Federal Credit Union•Winston-Salem, NC

About The Position

Truliant’s mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves. Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do. Purpose of the Job The Compensation Analyst is responsible for managing the daily activities of the organization’s compensation structure. The position uses competitive wage rates to develop or modify compensation and incentive plans, and partners with outside compensation consultants for guidance. The position also ensures all compensation plans comply with federal and state regulations.

Requirements

Must have strong knowledge of employment laws and practices, more specifically related to compensation.
Must have excellent communication skills in English, both verbal and written
Strong management skills required; both principles and people
Must have excellent computer skills, with advanced skills in MS Excel, Word, and data analysis
Must have superior interpersonal skills; ability to get along with diverse personalities; tactful, mature, flexible, compassionate
Must be resourceful and well organized, with strong attention to detail
Good reasoning abilities and sound judgment required
Must be flexible and able to shift resources and priorities as required
Must be able to manage multiple tasks concurrently
Must be able to work in a general office environment
Must have the ability to research and analyze various type of data information
Must have the ability to make recommendations to effectively resolve problems or issues, by using judgment that is consistent with human resources standards, practices, policies, procedures, regulation, or government law
Must be able to maintain confidentiality
Should possess a strong commitment to providing excellent service to Truliant’s members and employees
Bachelor’s degree or equivalent required
Minimum of 3-5 years’ experience in compensation analysis required, in financial services or similar environment preferred.
Proficiency with HRIS systems (preferably Workday).

Nice To Haves

PHR (Professional Human Resources), SHRM-CP (Society of Human Resources Management – Certified Professional), or CCP (Certified Compensation Professional) preferred.

Responsibilities

Partners with employees and management to communicate various policies, procedures, laws, standards, best practices, and government regulations.
Supports the development and implementation of compensation strategies aligned with organizational goals.
Responsible for employee pay increases, as processed through Workday Human Resources Information System (HRIS).
Handles all Job Profile creations within Workday HRIS
Benchmarks jobs against survey data and other market intelligence to determine competitive compensation ranges for each position.
Prepares and maintains job classifications and salary scales.
Prepares and presents summary reports of job analysis and compensation analysis information
Assists in calculating monthly and quarterly incentive payouts for Business Services, Mortgage Loan Officers, SBA Lending, and Truliant Financial Advisors. Ensures payouts are approved by management and communicated to payroll in time for payout.
Collaborates with external compensation vendors to administer salary structures and ensure market competitiveness.
Completes external salary surveys or employment surveys as required by various government agencies.
Works with the Human Resources Management team on the annual and mid-year merit increase process.
Prepares compensation reports for various departments and senior management as needed.
Evaluates reports, decisions, and results of department in relation to established goals. Recommends new approaches, policies, and procedures to affect continual improvements in efficiency of department and services performed.
Reviews commission or incentive plans annually (Business Services, Mortgage Loan Officers, Truliant Financial Advisors, etc.) and makes recommendations on changes or updates to existing plans based on market analysis and research.
Advises management on applicable state and federal compensation policies
Participates in various compensation audits and provides information to auditors as needed.
Participates in compensation-related projects and Workday system releases by analyzing impacts, testing functionality, updating configurations or data, and ensuring successful implementation in partnership with HRIS and other stakeholders.
Assists with other tasks and projects as assigned.