Compensation Analyst

Compeer Financial - Naperville, IL

Full-time - Mid Level

Naperville, IL

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Compensation Analyst position at Compeer Financial is a pivotal role responsible for the development, implementation, and administration of the organization's compensation programs. This includes not only the communication and training aspects but also conducting thorough analyses of both internal and external salary data. The analyst will evaluate jobs to determine their classification and appropriate salary levels, ensuring that compensation practices align with organizational policies and guidelines while remaining competitive in the market. This role serves as a vital resource for all team members and leaders, providing support to the Total Rewards team by administering various compensation and rewards programs as needed. In this position, the Compensation Analyst will collaborate closely with department leaders and HR partners to conduct job analyses and evaluations for new and revised positions. This includes drafting, editing, and updating job descriptions, as well as evaluating them to determine Fair Labor Standards Act (FLSA) status and appropriate salary grades. The analyst will also participate in salary surveys to benchmark the company's compensation programs and conduct market pricing using appropriate survey sources and criteria. Analyzing market competitive practices in compensation programs will be essential, as the analyst will recommend necessary adjustments such as pay range modifications and merit increases. Additionally, the Compensation Analyst will work with HR partners to analyze and recommend compensation packages for job offers, ensuring alignment with internal equity and competitive external market pricing. The role also involves assisting in the design and administration of variable compensation programs, including short and long-term incentive plans, commission plans, and other bonus structures. This position is integral to maintaining a fair and competitive compensation structure within Compeer Financial, ultimately supporting the organization's mission to empower rural America.

Responsibilities

• Collaborates with department leaders and HR partners to complete job analysis and job evaluation on new and revised positions.
• Drafts, edits and updates job descriptions. Evaluates job descriptions to determine FLSA status and appropriate salary grade.
• Participates in salary surveys to benchmark company compensation programs.
• Conducts market pricing by using the appropriate survey sources, scope criteria, and survey job matches.
• Analyzes market competitive practices in compensation programs and recommends adjustments (pay range adjustments, merit, etc.).
• Collaborates with Human Resources (HR) partners to analyze and recommend compensation packages for job offers to candidates on a timely basis, ensuring alignment with internal equity and competitive external market pricing.
• Assists in the design and administration of variable compensation programs including short and long-term incentive plans, commission plans and other bonus plans.

Requirements

• Bachelor's degree in human resources, business administration, finance or related field; or an equivalent combination of education and experience sufficient to perform the essential functions of the job.
• Minimum of 3 years of compensation or human resources analytics work experience, including handling personal and confidential information.
• Professional compensation or human resources certifications preferred (SPHR, PHR, CCP).
• Knowledge of FLSA and compensation-related federal, state and local regulations.
• Knowledge of general industry compensation practices.
• Strong client service focus, communication (verbal and written), presentation, interpersonal, and conflict resolution skills.
• Strong analytical skills and ability to make recommendations based on data and effectively communicating the information.
• Tact, diplomacy, and good judgment are necessary, even when working under pressure.
• Excellent attention to detail, organization, and time-management skills.
• Quick learner who thrives in a collaborative team environment.
• Proven ability to work independently and manage multiple projects simultaneously.
• Advanced proficiency with Microsoft Excel and other MS Office applications.
• Report writing skills in an HRIS for compensation and analysis purposes.
• Ability to gather and process large volumes of data used in the administration of various compensation programs.
• Ability to maintain HR and compensation expertise through ongoing educational opportunities.

Nice-to-haves

• Experience with HRIS systems for compensation management.
• Familiarity with agricultural industry compensation practices.

Benefits

• Medical, Dental, Vision insurance
• 401K (3% Compeer contribution & up to an additional 6% match)
• Paid time off (vacation, sick leave, holidays, volunteer time)