Senior Compensation Analyst

Overview

The Senior Compensation Analyst will design, analyze, model and administer compensation programs to ensure they remain competitive, fair, and aligned with business 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.

Responsibilities

• Job and Pay Structure Maintenance: 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.
• Incentive Plan Design & Administration: Support the design, assessment and administration 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.
• Compensation Modeling: Establish methodologies, develop models, and determine employee and cost impact of broad base pay reviews, changes to pay practices, and other compensation-related offerings.
• Market Benchmarking: Conduct salary benchmarking using survey data. Provide market pricing guidance for new and existing roles to ensure external competitiveness.
• HR Technology Liaison: Act as the compensation lead HR system (Oracle Fusion Cloud HCM). Collaborate with HRIS to ensure data integrity, support system updates, and optimize technology to streamline compensation processes.
• Compliance & Governance: Ensure compensation practices are compliant with federal, state, and international laws, including pay transparency, FLSA, and global pay equity standards. Maintain documentation and audit processes as needed.
• Cross-Functional Collaboration: Partner closely with Talent Acquisition, HR Business Partners, Finance, and Legal teams to provide compensation guidance and ensure alignment with business and talent strategies.
• Program & Process Improvement & Best Practices: 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.

Qualifications

• 5–8 years of experience in compensation, total rewards, or a related function.
• Strong understanding of base pay structures, incentive plan design, and compensation compliance.
• Strong understanding of employment laws, regulations, FLSA, and executive orders enforced by the OFCCP, EEOC, and other agencies.
• Demonstrated proficiency in statistical analysis techniques, data visualization and analytical skills that leverage critical thinking and problem-solving.
• Excellent communication and stakeholder management skills, with the ability to translate complex ideas and data into easy-to-understand actionable insights.
• Detail-oriented and highly organized, with the ability to manage multiple priorities and deadlines.

Desired Qualifications

• Familiarity with sales or executive incentive plans.
• Project management experience in compensation or total rewards.

About Us

Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.

Our approach to careers is simple yet powerful: Make our mission your passion.

• 
  Best Companies for Latinos to Work for 2024

• 
  Computerworld® Best Places to Work in IT

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  Forbes® 2024 America's Best Large Employers

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  Forbes® 2024 America's Best Employers for New Grads

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  Forbes® 2024 America's Best Employers for Tech Workers

• 
  Fortune Best Workplaces for Millennials™ 2024

• 
  Fortune Best Workplaces for Women ™ 2024

• 
  Fortune 100 Best Companies to Work For® 2024

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  Military Times 2024 Best for Vets Employers

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  Newsweek Most Loved Workplaces

• 2024 PEOPLE® Companies That Care

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  Ripplematch Recruiting Choice Award

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  Yello and WayUp Top 100 Internship Programs

From Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.

Equal Employment Opportunity: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected Veteran.

Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.

Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position

Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.