The Compensation Analyst provides expertise in the development and execution of all UWCU’s compensation policies, programs, and initiatives. This position is responsible for maintaining UWCU’s Compensation Guidelines, as well as the administration of all compensation programs including job description development, job evaluation, annual base increases, variable reward payout, incentive compensation programs, foundation wage adjustments, salary grade aging, wage rate reviews, and ETO cash out. This position must maintain a high degree of confidentiality in regards to employee matters.
This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of the organization in a positive manner.
1) Compensation Administration & Analysis - 40%
a. Work in collaboration with the CHRO and external partners to ensure timely and accurate implementation and communication for new compensation programs.
b. Maintain and update organizational compensation guidelines.
c. Lead implementation and communication efforts for designated compensation programs or projects including annual base pay increase, variable reward processes and ETO payout.
d. Administer compensation programs to ensure adherence to compensation policies, procedures and philosophy.
e. Develop training and education tools to communicate applicable compensation philosophy and compensation guidelines for managers and employees.
f. Coordinates the completion of relevant salary surveys on an annual basis.
g. Develop, review, and recommend new functionality, methods and procedures to increase departmental efficiency and/or enhance the employee experience with regards to compensation programs.
h. Establish a network of peers within the industry to exchange best practices, trends and vendor experiences.
i. Complete and participate in all relevant compensation surveys.
j. Assist the CHRO in the administration and development of Executive compensation programs.
k. Coordinate with HR team members and managers in regards to special spot bonus payments. This includes developing employee communication documents and ensuring all relevant Human Resources Information Systems are updated.
l. Assist the CHRO and Director of HROD in the annual compensation analysis of Executive and Leadership Team members.
2) Job Description Process Management - 30%
a. Coordinate the process of job description evaluation and the updating all position description.
b. Serve as the leader of the Core Compensation Committee; performing job evaluation on both existing and new positions to assist in achieving proper benchmarks as well as internal equity.
c. Develop and maintain formal communication describing the outcome of positions scored by the committee.
d. Maintain and update master job lists ensuring integrity of jobs and their current scoring is correct.
e. Work with the Benefits Intern to enter current job description within Halogen Job Description Builder.
3) Incentive Plan Management - 20%
a. Maintain and update all Incentive compensation programs on an annual basis including,
b. Assist the CHRO in the administration of the Executive Long Term Incentive Plan.
c. Assist the CHRO in the administration of the Executive Annual Variable Reward incentive.
4) HROD Team and UWCU Management Support - 10%
a. Advise, counsel and educate management, HR staff and employees with regard to compensation related matters.
b. Partner with HR business partners to address compensation related needs or issues.
c. Contributing member of HROD Compensation/Benefits/Payroll team
d. Partner as needed with the Talent Management Team in making salary recommendations for new hires and internal employee job movement based on comp guidelines, ensuring the integrity of comp system as well as internal equity.
-Bachelors Degree in Human Resources, Business Administration, or related field required
-4-5 years of Compensation, Human Resources, Total Rewards experience required
-Professional certification preferred: PHR, CBP or CEBS
-Knowledge of government regulations as they apply to compensation base and incentive compensation programs, company policies and operations.
-Proficiency with Microsoft Outlook, Microsoft Word, Microsoft Excel and PowerPoint.
-Demonstrated attention to detail in establishing priorities, completing assignments, and meeting deadlines.
-Demonstrated ability to build working relationships with employees and leaders throughout the organization.
-Strong interpersonal communication skills and demonstrated ability to represent a professional image.
-Strong presentation, telephone, verbal and written communication skills.
-Demonstrated analytical, accuracy, and problem-solving skills.
-Demonstrated ability to handle confidential and sensitive information with strict confidence.