HR Compensation Analyst

Full-time - Mid Level

Minnetonka, MN

Credit Intermediation and Related Activities

About the position

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.

Responsibilities

• 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.

Requirements

• 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.

Benefits

• 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.