Compensation Manager - Financial Services
The Manager of Compensation plans, develops, and implements new and revised compensation programs, policies, and procedures in order to be responsive to the Credit Union's goals and competitive pay practices. The role is responsible for a team of compensation professionals dedicated to all forms of compensation including executive compensation, base pay, and short term and long term incentives.
TASKS, DUTIES, FUNCTIONS:
- Manage the administration of the Credit Union's compensation programs. Provide an ongoing assessment of the compensationinfrastructure to ensure seamless delivery, acceptance, and effective compensation solutions.
- Develop and maintain compensation analytic dashboards and tools. Manage compensation data to provide reliable reports and valid statistical analysis, including regression and standard deviation studies.
- Oversee salary surveys to ensure a competitive compensation structure.
- Oversee the job description database and works with leadership to update and/or create job descriptions to reflect changes to job requirements and duties as appropriate.
- Review requests for classification reviews and makes classification/pay level recommendations at the job level as appropriate.
- Maintain a thorough understanding of applicable federal, state, and local laws and regulations, in particular those related to compensation matters, including Fair Labor Standards Act, Equal Pay, and California Fair Pay Act.
- Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout Golden 1, and embracing our mission, vision and core values.
- Conduct various scenarios of compensation analytics and modeling to assist HR Business Partners and business leaders to make informed compensation decisions.
- Ensure regulatory compliance with Fair Labor Standards Act and governing bodies by creating job analysis, documentation, and evaluation process; writing and modifying job descriptions; evaluating positions for exemption status; providing consultative services to management on FLSA law/CA Status.
- Conduct backward analysis and forward-focused forecasting to accurately predict compensation expenses.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
- Effective oral and written communication skills required.
- Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
- INTERNAL: All levels of staff and management.
- EXTERNAL: Compensation Survey Vendors, HR Vendors
- EDUCATION:Bachelor's degree in related field, Master's preferred.
- EXPERIENCE: Minimum of 7years or more experience in compensation management and statistical analysis. Minimum 3years or more experience in a direct supervisory capacity. Prior experience with federal and state regulations in the financial services industry.
- Broad knowledge of compensation principles, practices, tools, and systems.
- Ability to create and run complex queries using such tools and systems. Strong analytical skills and mathematical skills.
- Ability to perform and communicate valid statistical analysis.
- Strong knowledge of California employment law and regulations as they relate to compensation.
- Ability to communicate with and influence senior executives.
- Demonstrated project management skills.
- Demonstrated ability to anticipate issues, present solutions.
- Ability to draw conclusions from analysis performed and present recommendations to senior management.
- High level of confidentiality.
- Working knowledge of Microsoft Office products, especially Excel and PowerPoint.
- Strong oral and written communication skills.
- Prolonged sitting throughout the workday with occasional mobility required.
- Corrected vision within the normal range.
- Hearing within normal range. A device to enhance hearing will be provided if needed.
- Ability to lift 15 lbs. as may be required.
- Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
- May need to work unusually long work hours required to accomplish tasks.
CCP (Certified Compensation Professional) designation preferred.