HR Compensation Analyst

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:

The Compensation Analyst supports the execution, design, and implementation of Alerus's total rewards philosophy, programs, operations, and systems. They provide strategic support and subject matter expertise internally to Human Resources, as well as to managers across the organization. The Compensation Analyst assists the Total Rewards Manager in making recommendations in the design, development and review of the compensation structure and reward programs to support recruitment, retention, motivation, productivity and engagement of employees at all levels, along with leading and supporting total rewards or HR team projects that have organization-wide impact.

WHAT YOU’LL BE DOING:

• Administer salary evaluations, review merit submissions for compliance, and develop salary adjustment letters.
• Calculate and process incentives, guarantees, and referral payments, ensuring data quality and compliance with plan agreements.
• Work with business leaders and HR on incentive plans, offer letters, and bonus structures, and assist with plan development and maintenance.
• Manage annual compensation and benefits surveys, review results, and recommend changes to benchmark jobs.
• Support company and performance bonus processes, update training and guidelines, and ensure compliance with program guidelines.
• Develop effective communication materials and trainings to improve understanding of compensation and HR programs.
• Ensure compensation and benefits programs comply with federal, state, and local laws, and monitor regulations related to pay practices.
• Review market trends and make compensation recommendations to keep the company competitive.
• Support benefits initiatives as assigned, including review of existing benefits programs and market trends to determine appropriate changes, all in partnership with the Total Rewards Manager.
• Participate in HR projects as assigned.

WHAT YOU SHOULD HAVE:

• Bachelor’s degree in business, human resources, or any equivalent combination of experience and training that provides the required knowledge, skills, and abilities.
• 3-5 years of related experience in compensation-related administration and analysis, with at least one year of experience working with incentive compensation plans.
• Creativity in problem solving using information and independent judgment.
• Proficient in Microsoft Office applications, especially Excel.
• High degree of integrity and ability to maintain confidential information.
• Understanding of HR processes and data, and employment law.
• Demonstrated effective time management and organizational skills.
• Professional interpersonal and written communication skills.
• Adapts positively to continuous change.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT: Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds. The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.

Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)