Compensation Analyst

Employer
PenFed Credit Union
Location
Mclean, VA
Posted
Jun 08, 2021
Closes
Jun 12, 2021
Ref
2035158174
Function
Analyst
Industry
Other
Hours
Full Time
Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members "do better." Joining PenFed is more than being an employee; it's about being a part of the PenFed family. PenFed is hiring a Compensation Analyst at our Tysons, Virginia location. The primary purpose of this job is to provide technical and analytical classification and compensation knowledge, related to the development and administration of the organization's compensation system. This position will maintain consistent application of the classification and compensation standards for job positions based on the classification and duties of the position; and/or other related activities. The incumbent will communicate directly with managers and employees in both written and oral communication as well as prepare documents related to the Compensation processes and procedures. Responsibilities Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. Provide operational analysis, reporting and trends related to commissions, compensation plans, and the incentive sales force.Monitor and track monthly, quarterly, and annual incentives for several teams with varying scorecard requirements.Close coordination with sales managers to establish and maintain proper quality controls. Provide operational analysis, reporting and trends related to commissions, compensation plans, and the sales force.Ensure incentive strategies, plans, and operating processes are executed in a timely, scalable, efficient, high quality and consistent manner.Partner with HR Business Partners to align new and existing positions by reviewing salary grades, internal equity and job leveling. Provide internal equity when necessary.Partner with HR Business Partners regarding employee incentive and/or retroactive payment calculations. Submit payroll file to the payroll department for processing on a bi-weekly basis.Partner with Talent Acquisition to review and approve internal/external offer letters to ensure the offer is align with PenFed's current salary grade/structure. Provide salary recommendation when necessary.Conduct salary review and determination for all new hire salaries using market data, internal equity and budget implications.Review new positions to ensure appropriate job pricing and classification to attract a qualified candidate pool. Utilize position-specific market data information, to modify existing position description or and create new job descriptions as needed. Accurately reflect current roles, responsibilities and requirements of each position.Participate in the design, analysis, budgeting and implementation of base pay, bonus pay and incentive programs. Develop communications for salary, incentive and bonus programs for internal customer distribution.Respond to HR Business Partners from managers' request for job reclassification and salary reviews, providing documented reports as to how the determinations were made. This includes reviewing job questionnaires, conferring with managers and employees, evaluating job duties, comparing position descriptions, conduct desk audits, reviewing salary market data and internal equity in order to make a fair determination. Communicate with internal clients regarding the result of compensation work.Review jobs as part of a reorganizations and/or special projects, to include job audits and evaluations. Document position-specific findings and recommendations to contribute to a comprehensive project report.Develop and document procedures to streamline processes and ensure compliance with regulatory requirements and work with HR Managers to communicate and educate PenFed Management teams.Work with HRIS and IT staff to ensure that the PeopleSoft system meets compensation needs and is updated to reflect changes to salary structures, bonus programs, and any other Compensation related transactions.Consult with the HR Business Partners, using Human Resources procedures and work within the HRIS systems, to ensure all aspects of job creation are addressed in a timely manner (ie creation of position numbers, posting of new and revised descriptions, etc.)Research and analyze compensation data to provide insight and clarity in consideration of contract provisions, historical practices, salary equity, job classification, etc.Provide data input to participated salary surveys for external organizations annually.*This role is responsible for ensuring business continuity.* Qualifications Equivalent combination of education and experience is considered.Bachelor's Degree in Human Resources, Business Administration or a related field is preferred.Minimum of two (2) years of experience in Compensation principles or Human Resources including job evaluations, salary structure, salary administration and market pricing is required. Experience in sales and incentive compensation analysis preferred.Ability and knowledge of computer database management, proficient in SharePoint and Excel and organizing spreadsheets, and word processing documents, in order to produce and analyze large amounts of data and conduct sound evaluations. Tableau and Monarch data management system knowledge preferred.Building a rapport with employees and managers in conducting job reviews; Utilizing computer technology used for communication, data gathering and reporting; negotiation and problem solving.Work EnvironmentWhile performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.* TravelAbility to travel to various worksites and be on-call may be required. Special Message Regarding COVID 19PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world. In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing. About Us Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day. We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more. Equal Employment OpportunityPenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same. PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 240-224-4256.#LI-CB1

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