Compensation Analyst

Compeer Financial • Lakeville, MN

5d • $84,400 - $127,700 • Hybrid

About The Position

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.

This position is responsible for the development, implementation, and administration of the compensation programs, including communication and training. The responsibilities include 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. Serves as a compensation resource for all team members and leaders. Supports the Total Rewards team by administering different compensation and rewards programs, as needed.

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

• Collaborates with department leaders and HR partners to complete job analysis and job evaluation on new and revised positions.
• Drafts, edits and updates job descriptions. Evaluates job descriptions to determine FLSA status and appropriate salary grade.
• Participates in salary surveys to benchmark company compensation programs.
• Market prices jobs regularly, and as requested, to ensure competitive benchmark rates.
• Conducts market pricing by using the appropriate survey sources, scope criteria, and survey job matches.
• Analyzes market competitive practices in compensation programs and recommends adjustments (pay range adjustments, merit, etc.).
• Collaborates 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.
• Provides guidance to leaders on routine compensation decisions for team members, policy and guideline interpretation.
• Provides recommendations on various pay matters including annual salary increases, promotions, and equity adjustments.
• Assists in the design and administration of variable compensation programs including short and long-term incentive plans, commission plans and other bonus plans.
• Collaborates with the Finance reporting team on variable compensation accruals, updates to the annual plans, measures, calculations and results.
• Maintains and updates accurate program documentation and manuals for all variable compensation processes and procedures.
• Monitors 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.
• Collaborates with Sr Compensation Analysts on the planning and administration of annual salary increases.
• Assists with the development and implementation of compensation policies and structures.
• Manages compensation systems to ensure data integrity and accuracy.
• Updates and maintains various compensation databases and market pricing tool.
• Collaborates with Sr Compensation Analysts to ensure efficient vendor relationship management. Acts as a point of contact for addressing concerns or discrepancies with vendors, escalating to Sr Compensation Analysts as necessary.
• Creates reports and maintains historical compensation data for total compensation analysis. Provides insights based on the analysis.
• Develops communication tools and materials to enhance understanding of the organization’s total compensation practices.
• Prepares and delivers regular and ad-hoc reports to leadership as needed.
• Monitors 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)
• Benefits: 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