Sr. Compensation Analyst

OU Medicine - Denver, CO

Full-time - Mid Level

Denver, CO

10,001+ employees

Ambulatory Health Care Services

About the position

The Senior Compensation Analyst at OU Health in Oklahoma City plays a crucial role in providing tactical and planning compensation support to designated leaders and employees across various OU Health facilities. This position involves developing, implementing, and maintaining financial analysis and modeling to ensure accurate and responsive information is available to management and stakeholders. The analyst will lead complex analytical tasks, including variance and sensitivity analyses, to support process improvements and ensure consistent application of OU Health's compensation standards. In addition to conducting compensation activities such as market analysis, pay equity analysis, job evaluation, and job analysis, the Senior Compensation Analyst will participate in special projects aimed at enhancing compensation policies, processes, and programs. The role requires researching and benchmarking current compensation trends to assess the competitiveness of OU Health's programs. The analyst will provide internal consultation on various compensation matters, engage with leaders to understand compensation philosophy, and develop reporting tools to support enterprise-wide initiatives. The position also involves evaluating and approving jobs, creating and managing job descriptions for FLSA compliance, and providing consultation on pay inequities, market pricing, and salary administration guidelines. The Senior Compensation Analyst will contribute to the administration of performance and compensation budget planning cycles, ensuring compliance with federal and state legislation, and supporting the organization's diversity, equity, and inclusion initiatives. Furthermore, the analyst will maintain the compensation structure, conduct pay equity analyses, and prepare complex financial analyses to aid decision-making by senior leaders.

Responsibilities

• Provides internal consultation on compensation matters relating to offers, promotions, retention, internal equity, market adjustments, organizational changes and workforce planning.
• Engages leaders to understand compensation philosophy, plans, and programs and develop reporting tools to support and implement enterprise-wide and location-specific compensation related initiatives.
• Evaluates and approves jobs and creates and manages job descriptions to ensure FLSA compliance and alignment with the company's compensation and job structure.
• Provides compensation consultation to leadership including pay inequities, pay grade structure, market pricing, job evaluation, job analysis, FLSA designation, job leveling, salary administration guidelines, etc.
• Contributes to the administration of performance and compensation budget planning cycle, including, but not limited to, end-of-year performance evaluation process, merit, planning, employee incentive plan, and annual market review.
• Facilitates compensation program compliance with federal and state legislation (i.e., FLSA, EEO) as well as pay equity analysis, support the organization's DE&I initiatives.
• Provides guidance, training and conducts peer review to lesser experienced team members.
• Maintains the OUH's compensation structure to ensure competitiveness; conduct annual review of grade assignments, ranges, and differentials, and recommend any necessary adjustments.
• Maintains all compensation market data and tools, recommends, and implements efficiencies in tracking and reporting.
• Completes submissions for compensation surveys as required.
• Conducts pay equity analysis, regression analysis, and makes recommendations for adjustments.
• Prepares complex financial analyses and modeling to enable short- and long-term decision making by company, service line, and senior leaders.
• Reviews compensation proposals for compliance with established guidelines, policies, job architecture.
• Responsible for data entry, validation and administration within the Workday compensation module and continuously explore improvements to processes and functionality.
• Generates Workday reports and performs pay audits on data entry output to maintain the accuracy and integrity of compensation data.
• Conducts ad-hoc research and modeling in support of project assignments including presentation of findings and recommendations for management review.
• Conducts routine and ad-hoc audits of people and payroll data which involve compensation and performance data.
• Manage projects from start to finish, translating needs into analysis and design recommendations across topics such as executive compensation, staff compensation, incentive plan design and equity guidelines.
• Assists with compensation design and analysis, including working with large datasets to formulate recommendations for compensation program improvements.

Requirements

• Bachelor's degree required; degree in Finance, Economics, Statistics, Human Resources, Business, or related field preferred.
• Minimum of five (5) to seven (7) years' experience with the analysis and administration of compensation programs; forecasting and administering organization wide pay changes.
• Experience in a healthcare facility preferred.
• SHRM CP or SCP, Certified Compensation Professional (CCP) or other approved Total Rewards certification at the time of hire or attainment within 12 months of hire.
• Highly proficient in Microsoft office applications with advanced skills in Microsoft Excel.
• High level of analytical ability with accuracy, attention to detail in work, and the ability to lead projects.
• Able to work independently, prioritize workload, and be flexible to change.
• Knowledge of compensation tools, programs, and practices.
• High level of discretion, tact, diplomacy, and professionalism.
• Substantial interpersonal skills necessary in order to interact with employees and management at all levels in problem resolution and ability to interact with external sources for survey data collection.

Benefits

• PTO
• 401(k)
• medical and dental plans
• comprehensive benefits package