Compensation Analyst

Compeer Financial • Naperville, IL

12h • Hybrid

About The Position

Empowered to live. Inspired to work. Compeer Financial is a member-owned cooperative located in Illinois, Minnesota and Wisconsin. We bring together team members with a variety of backgrounds and experiences to help provide financial services to support agriculture and rural communities. Join us in a culture that not only promotes meaningful work and professional development, but provides a flexible, hybrid work environment and excellent benefits, which empower you to thrive both personally and professionally.

Requirements

• Bachelor’s degree in human resources, business administration, finance or related field; or an equivalent combination of education and experience sufficient to perform the essential functions of the job.
• Minimum of 3 years of compensation or human resources analytics work experience, including handling personal and confidential information.
• Knowledge of FLSA and compensation-related federal, state and local regulations.
• Knowledge of general industry compensation practices.
• Strong client service focus, communication (verbal and written), presentation, interpersonal, and conflict resolution skills.
• Strong analytical skills and ability to make recommendations based on data and effectively communicating the information.
• Tact, diplomacy, and good judgment are necessary, even when working under pressure.
• Excellent attention to detail, organization, and time-management skills.
• Quick learner who thrives in a collaborative team environment.
• Proven ability to work independently and manage multiple projects simultaneously.
• Advanced proficiency with Microsoft Excel and other MS Office applications.
• Report writing skills in an HRIS for compensation and analysis purposes.
• Ability to gather and process large volumes of data used in the administration of various compensation programs.
• Ability to maintain HR and compensation expertise through ongoing educational opportunities.

Nice To Haves

• Professional compensation or human resources certifications preferred (SPHR, PHR, CCP).

Responsibilities

• Development, implementation, and administration of compensation programs, including communication and training.
• Conducting analysis on internal and external salary data.
• Evaluating jobs to determine classification and salary.
• Ensuring compensation practices are in alignment with organization policies and guidelines, and are competitive with the market.
• Serving as a compensation resource for all team members and leaders.
• Supporting the Total Rewards team by administering different compensation and rewards programs, as needed.
• Collaborating with department leaders and HR partners to complete job analysis and job evaluation on new and revised positions.
• Drafting, editing and updating job descriptions.
• Evaluating job descriptions to determine FLSA status and appropriate salary grade.
• Participating in salary surveys to benchmark company compensation programs.
• Market pricing jobs regularly, and as requested, to ensure competitive benchmark rates.
• Conducting market pricing by using the appropriate survey sources, scope criteria, and survey job matches.
• Analyzing market competitive practices in compensation programs and recommending adjustments (pay range adjustments, merit, etc.).
• Collaborating with Human Resources (HR) partners to analyze and recommend compensation packages for job offers to candidates on a timely basis, ensuring alignment with internal equity and competitive external market pricing.
• Providing guidance to leaders on routine compensation decisions for team members, policy and guideline interpretation.
• Providing recommendations on various pay matters including annual salary increases, promotions, and equity adjustments.
• Assisting in the design and administration of variable compensation programs including short and long-term incentive plans, commission plans and other bonus plans.
• Collaborating with the Finance reporting team on variable compensation accruals, updates to the annual plans, measures, calculations and results.
• Maintaining and updating accurate program documentation and manuals for all variable compensation processes and procedures.
• Monitoring the effectiveness of existing compensation policies, guidelines and procedures recommending plan revision as well as new plans consistent with Compeer’s compensation philosophy and compensation trends.
• Collaborating with Sr Compensation Analysts on the planning and administration of annual salary increases.
• Assisting with the development and implementation of compensation policies and structures.
• Managing compensation systems to ensure data integrity and accuracy.
• Updating and maintaining various compensation databases and market pricing tool.
• Collaborating with Sr Compensation Analysts to ensure efficient vendor relationship management.
• Acting as a point of contact for addressing concerns or discrepancies with vendors, escalating to Sr Compensation Analysts as necessary.
• Creating reports and maintaining historical compensation data for total compensation analysis.
• Providing insights based on the analysis.
• Developing communication tools and materials to enhance understanding of the organization’s total compensation practices.
• Preparing and delivering regular and ad-hoc reports to leadership as needed.
• Monitoring regulatory environment to ensure compliance with all applicable laws and regulations governing compensation practices.

Benefits

• Hybrid model – up to 50% work from home
• Flexible schedules including ample flexibility in the summer months
• Up to 9% towards 401k (3% fixed Compeer contribution plus up to 6% match)
• medical, dental, vision, HSA/FSA, life & AD&D insurance, short-term and long-term disability, wellness program & EAP
• Vacation, sick leave, holidays/floating holidays, parental leave, and volunteer paid time off
• Learning and development programs
• Mentorship programs
• Cross-functional committee opportunities (i.e. Inclusion Council, emerging professional groups, etc.)
• Professional membership/certification reimbursement and more!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level