What are the responsibilities and job description for the Compensation Analyst position at SECU?
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Summary
The Compensation Analyst has primary responsibility to maintain integrity and consistency of Base Pay programs via standard job analysis and compensation analysis. The incumbent has responsibility to assure that all systems of record associated with compensation data related to job and compensation analyses are up to date and accurate. The incumbent will be responsible for project work centered around infrastructure and technology. The position is hybrid, with regular presence at Raleigh Headquarters Campus required.
Responsibilities
Disclaimer
State Employees' Credit Union reserves the right to fill this role at a higher/lower level based on business need.
Summary
The Compensation Analyst has primary responsibility to maintain integrity and consistency of Base Pay programs via standard job analysis and compensation analysis. The incumbent has responsibility to assure that all systems of record associated with compensation data related to job and compensation analyses are up to date and accurate. The incumbent will be responsible for project work centered around infrastructure and technology. The position is hybrid, with regular presence at Raleigh Headquarters Campus required.
Responsibilities
- Job Analysis
- Review job descriptions to assure that job analysis has been completed and documented according to internal standards and are compliant with regulatory environment.
- Assists managers in the conceptualization, evaluation, and writing of job descriptions through a thorough job analysis process.
- Provide FLSA and leveling recommendation based on exemption testing and job level analysis.
- Assure all jobs have descriptions that are no more than three years old and keep a catalogue of accurate JDs.
- Work with business managers and Business Partners to assure jobs are correctly reflected in job descriptions.
- Market Pricing
- Determine compensable elements of jobs based on their description.
- Perform matching against standard survey benchmark jobs.
- Determine job pricing by analyzing external and internal equity factors.
- Assure Compensation’s market pricing catalogue and other reference lists are up to date by maintaining market pricing system.
- Administration
- Update the following data repositories based on daily pricing work:
- Workday
- Pricing Catalogue
- Payfactors
- Execute periodic audits of data contained in systems of record to assure congruence and alignment.
- Assure survey submissions are completed according to scheduled timeline.
- Update data repositories with new survey information.
- Projects and Infrastructure
- Identify and construct process documentation for standard work surrounding job pricing according to the documentation standards established for SECU.
- Identify process improvements that would increase throughput and/or validity/reliability of analyses. Recommend infrastructure changes, esp. improvements to standard procedures and use of technology. May be responsible to manage small to medium scale projects affecting compensation infrastructure.
- Bachelor’s degree in HR, Business Administration, Finance, Mathematics, or closely related field, or an additional three years of experience in lieu of a degree
- 3 years of experience in compensation
- Intermediate to advanced knowledge of Excel, incorporating pivot tables, vlookups, match, index, statistical functions
- Demonstrable experience in compensation or HR discipline as an analyst (3 years min.)
- Demonstrable experience and expertise in job analysis and market pricing using surveys and market pricing tools.
- Experience in compliance categorization of positions and people pursuant to EEO, FLSA, and similar items.
- Strong analytical skills
- Ability to plan and coordinate multiple projects/work initiatives.
- Certification in Compensation, Analytics, or Human Resources
- Experience using Workday to generate reports and analyze data
- Direct experience in Compensation in a Financial Institution
- Experience using a job description tool such as JDXpert, CompAnalyst JobArchitect, or similar product
- Advanced degree in HR, Mathematics, Business, Finance or similar discipline
- Participation in WorldAtWork local networking
- Sitting for prolonged periods of time
- Carrying up to 15 lbs
- Lift up to 15 lbs
- Push/pull up to 15 lbs
- Telephone for prolonged periods of time
- Computer for prolonged periods of time
Disclaimer
State Employees' Credit Union reserves the right to fill this role at a higher/lower level based on business need.
