Compensation and Benefits Analyst

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Position Summary

The Compensation and Benefits Analyst is responsible for analyzing, developing, and administering compensation and benefits programs to ensure competitive, equitable, and cost-effective team member rewards. This position will also be responsible for applying data to make recommendations related to team member benefits and leave entitlements. This role ensures compliance with federal and state regulations while supporting the credit union’s strategic goals in attracting and retaining top talent.

Principle Duties and Responsibilities

• Willingness and ability to exhibit Wellby Core Values every day.

• Works purposefully and is driven to provide the best team member experience.

Compensation Administration

• Conducts job evaluations, market pricing, and salary benchmarking to ensure competitive pay structures.

• Assists in the development and administration of salary structures, pay grades, and incentive programs.

• Reviews and processes salary adjustments, promotions, and job reclassifications based on internal policies and external market trends.

• Collaborates with HR and leadership to ensure fair and equitable compensation practices.

• Prepare and calculate quotes.

• Supports annual merit increase and bonus program administration.

Benefits Administration

• Manages team member benefits programs, including health, dental, vision, retirement, disability, and wellness initiatives.

• Coordinates annual open enrollment and communicates benefit changes to team members.

• Serves as the primary contact for team members regarding benefits inquiries, claim issues, and policy interpretation.

• Ensures compliance with all applicable laws, such as ERISA, ACA, COBRA, FMLA, and HIPAA.

• Partners with benefits vendors and brokers to optimize plan offerings and cost-efficiency.

• Responsible for administering tuition reimbursement program.

• Responsible for administering the wellness program and quarterly lunch & learns with different benefit vendors.

• Review and respond to unemployment wage verification with appropriate documentation. Review monthly unemployment wage statements.

• Coordinate workers’ compensation claims with third-party administrators. Follow up on claims.

• Plans, conducts and reports results of audits to ensure all enrollments are accurate and that dependent information is correct for each team member. Works closely with accounting for quarterly and year-end audits (Worker’s Compensation, 401(k), etc.)

• Conducts benefit presentations for new-hire orientations.

• Processes and administers all leave-of-absences requests and disability paperwork: medical, personal, disability and FMLA.

HR Analytics & Compliance

• Prepares compensation and benefits reports, analyzing trends and making data-driven recommendations.

• Collects and compiles key HR metrics and data from a variety of sources, including human resource information systems (HRIS) and payroll outputs, benefits enrollment records, management and team member surveys, exit interviews, personnel records, government labor statistics, competitors’ practices, and other sources.

• Ensures compliance with labor laws, internal policies, and audit requirements.

• Supports HRIS implementation and enhancements related to compensation and benefits.

Team Member Support & Engagement

• Conducts training sessions on compensation and benefits programs for team members and managers.

• Assists with team member engagement initiatives related to total rewards.

• Provide excellent customer service to team members regarding pay, benefits, and related HR matters.

• Performs other related duties as assigned.

Knowledge, Skills, and Abilities (KSA)

• Knowledge of local, state, and federal human resources and employment regulations, including benefits administration.

• Knowledge of federal and state labor laws, insurance practices and procedures, and Worker’s Compensation State laws.

• Knowledge of major functions of compensation administration, including the principles and practices of position classification, job evaluations, performance evaluation, and compensation/salary administration.

• Knowledge of compensation-related quantitative concepts.

• Knowledge of Wellby’s organizational functions and general operating policies and procedures.

• Knowledge of general office practices and procedures, business English, spelling, punctuation, and arithmetic.

• Knowledge of personnel law, with an in-depth understanding of the laws governing the areas of employee benefits, compensation, and wage issues, including applicable federal and state laws and regulations governing the provision of company benefits (i.e., 401K plan, Cobra, ERISA).

• Knowledge of Equal Employment Opportunity Laws, Fair Labor Standards Act, Civil Rights Act of 1964, ERISA, and employment practices and procedures.

• Knowledge of health care and retirement benefits plans, eligibility requirements, cost enrollment, billing procedures, and benefits administration.

• Knowledge of personal computers and proficiency utilizing Microsoft Office Suite products or related software.

• Skilled in analyzing, comparing, and evaluating compensation and benefit plans.

• Skilled in operating computer equipment and general office machines such as personal computers, copiers, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding devices.

• Skilled in data organization and implementation into readable formats, spreadsheets, and HRIS systems.

• Skilled in effective verbal and written communication to prepare and conduct presentations, training seminars, and workshops.

• Skilled in above-average analytical and reasoning abilities.

• Ability to establish and maintain effective working relationships with coworkers, vendors, consultants, contractors, and local, state, and federal agencies.

• Ability to communicate information and ideas so others will understand. Must be able to exchange accurate information in these situations.

• Ability to communicate clearly and concisely, orally and in writing.

• Ability to efficiently understand and follow oral and written instructions, perform routine duties without close supervision, deal effectively with the public and establish and maintain effective working relationships with other team members.

• Ability to provide excellent time management skills with a proven ability to meet deadlines.

• Ability to provide strong analytical and problem-solving skills.

• Ability to coordinate several concurrent activities simultaneously.

• Ability to exercise independent judgment.

Supervisory Responsibilities

• The team member does not have supervisory responsibilities.

Complexity & Scope of Work

• The team member will ensure policies, procedures, and programs are consistently administered, aligned with organizational goals, and compliant with professional standards.

• The team member performs a variety of related tasks, which are mostly routine but sensitive in nature.

• The team member performs a moderate number of routine and generally related tasks without supervisory direction.

• Instructions to the team member may be general or specific in nature.

• Courses of action are determined by established procedures and/or the Vice President of Human Resources.

• The team member’s work is reviewed periodically for accuracy, completion, and compliance with the policies and procedures.

• The team member uses independent judgment in making decisions.

• Tasks may occasionally have to be coordinated, integrated, and/or prioritized.

Physical Demands & Work Environment

• The physical demands and work environment characteristics described here represent those that a team member must meet to perform the essential functions of this position successfully. Reasonable accommodations may enable individuals with disabilities to perform essential functions.

• To perform this job successfully, the team member is frequently required to remain in a stationary position 50% of the time. Daily movements include sitting, standing, reaching, and grasping; operating computers and other office equipment; moving about the office; and attending possible onsite and offsite meetings.

• The team member must be able to exchange information, in person, in writing, and via telephone. Some degree of stress results from contact with management and other team members.

• The ability to observe details at close range (within a few feet of the observer).

• Must be able to occasionally lift items weighing up to 25 pounds across the office and load them onto shelves for various needs.

• The noise level in the work environment is usually moderate.

• Work involves the typical risks and discomforts associated with an office environment but is usually in an adequately cooled, heated, lighted, and ventilated area.

Minimum Qualifications

• Bachelor’s degree in Human Resources Management, Business Administration, or related field from an accredited college or university is required.

• Minimum three (3) – five (5) years of experience in related areas such as human resources, job classification and compensation, employee benefits, and/or equal opportunity compliance required.

• Professional in Human Resources (“PHR”) or Society of Human Resources Management Certified Professional (“SHRM-CP”) credentials preferred.

• Bondable

For All Candidates

This is a Full-Time, Salary (exempt) role.

Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status or any other legally protected characteristic. If you'd like more information about your EEO rights as an applicant under the law, please contact Human Resources.

Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email careers@wellbyfinancial.com or call 281-226-1696 for assistance.

Disclaimer

The statements herein are intended to describe the general nature and level of work being performed by team members and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the organization.