Compensation Analyst

Navy Federal•Pensacola, FL

2d•Onsite

About The Position

Navy Federal Credit Union currently does not provide sponsorship for this role. Applicants must be authorized to work in the United States without the need for current or future sponsorship. The Compensation Analyst will design, analyze, model and administer compensation programs to ensure they are competitive and aligned with the strategic goals. This role will be responsible for job and pay structures, designing and assessing incentive programs, developing data insights, and conducting compensation analysis and reporting while ensuring compliance.

Requirements

Greater than 5 years of experience in compensation or total rewards design and analysis.
Strong understanding of compensation frameworks, incentive plans, and compliance regulations.
Proficient with analytical tools, particularly Excel; experience with Tableau or Power BI is strongly preferred.
Demonstrated experience in data analysis, including regression analysis and visualization techniques.
Strong analytical and problem-solving skills, with attention to detail and organizational abilities.
Strong communication and stakeholder management skills, able to present complex data in an understandable format.

Nice To Haves

MarketPay experience.
Experience with sales or executive compensation plans.
Familiarity with HR technology systems, particularly those related to compensation analysis, such as Oracle HCM.

Responsibilities

Maintain and update company-wide pay structures and job frameworks to support organizational growth and internal equity. Ensure accuracy and consistency across systems while aligning with compensation strategy.
Assist in the design and management of variable incentive programs, including sales incentives, long-term incentives and bonus plans. Partner with Finance and HR teams to model payouts, maintain accurate records, and ensure timely and accurate execution.
Develop models and determine employee and cost impact of broad base pay reviews, changes to pay practices, and other compensation-related offerings.
Work with finance and business leaders to manage and forecast the annual compensation budget, tracking and analyzing expenditures.
Deliver regular and ad hoc reports and analyses on compensation data, highlighting key trends in pay equity and market competitiveness.
Oversee MarketPay administration, including maintaining and validating MarketPay reports, managing salary survey administration and annual survey submissions, supporting market pricing activities, and owning the ongoing relationship with MarketPay and our survey vendors to ensure data integrity, system optimization, and vendor alignment.
Ensure compliance with applicable compensation regulations and maintain necessary documentation and auditing processes.
Partner closely with HR Partners, HR Business Partners, Finance, and Legal teams to provide compensation guidance and ensure alignment with business and talent strategies.
Identify opportunities to streamline and improve compensation processes and programs and makes recommendations for future initiatives. Stay informed of market trends, emerging technologies, and evolving regulations to ensure ongoing program relevance and effectiveness.
Participate in and occasionally lead small-scale compensation projects, such as system updates, process improvements, and research initiatives.