Job DescriptionThe
Senior Compensation Analyst reflects the mission, vision, and values of NM, adheres to the organization's Code of Ethics and Corporate Compliance Program, and complies with all relevant policies, procedures, guidelines and all other regulatory and accreditation standards. The Senior Compensation Analyst reports to the Program Director of
Physician Compensation and supports the following:
Responsibilities:- Exercises significant discretion in interacting with all levels within the system to support compensation strategy, pay programs and policies.
- Assists in designing, implementing and administering compensation and incentive programs across the organization. Develops incentive or special compensation programs as needed.
- Prepares reports and analyses to ensure equity and competitiveness of pay programs.
- Conducts research and provides summary findings to leadership and stakeholders to help design and review current total rewards and talent programs.
- Reviews new and updated job descriptions and research, collects, and analyzes data in order to determine appropriate salary grade and title.
- Independently conducts market reviews by identifying, extracting source materials (i.e. internal and external job descriptions and all components of compensation data), providing summary findings, making recommendations to compensation leadership and stakeholders, analyzing budgetary impact and developing implementation protocols (communication plan, coordination with MyHR for data updates).
- Leads participation in annual salary surveys and serves as liaison with survey vendors. May delegate common surveys to additional support within HR to complete based on approved matches.
- Independently consults with HR colleagues, leadership and employees in application of compensation practices, salary determinations and new hire compensation. May provide instruction/training in a formal setting regarding compensation practices and procedures.
- Provides authorization for non-standard personnel actions, interim pay and other payments as appropriate, including the coordination of payments with payroll department.
- Serves as departmental NMI/intranet content manager.
- Serves as the compensation systems expert, partnering with appropriate resources in the design and maintenance of the system.
- Maintains integrity of compensation data in PeopleSoft.
- Proactively identifies opportunities for operational improvement, including the development and execution of subsequent action plans and routine audits.
- Manages special projects as requested.
Additional Functions
- Conducts training sessions and Town Halls.
- Serves as PeopleSoft super-user and advises MyHR, Payroll, and IS when system updates require expert knowledge on compensation policies, practices, and programs.
- Other duties as assigned.
QualificationsRequired:- Bachelor's Degree, preferably in HR, Industrial/Organizational Psychology, Finance or Business
- Minimum of 3 years of Compensation experience and 5 years of relevant HR/Finance experience (minimum of 8 years of total experience)
- Advanced proficiency with Microsoft Excel and a working proficiency of Microsoft Access
- Demonstrated organizational and administrative skills to include the ability to prioritize and handle multiple tasks and projects concurrently
- Excellent attention to detail
- Well-developed analytical and problem-solving skills and logical reasoning
- Demonstrates history of exercising confidentiality and discretion
- Knowledge of relevant federal, state and local regulations relating to Human Resources
- Excellent verbal and written communication skills
- Strong interpersonal skills
- Ability to travel to various sites as needed
Preferred:- Experience in physician compensation
- Master's Degree
- Certified Compensation Professional (CCP) or Profession in Human Resources (PHR) designation
- PeopleSoft experience
- Healthcare experience
BenefitsWe offer a wide range of benefits that provide employees with tools and resources to improve their physical, emotional, and financial well-being while providing protection for unexpected life events. Please visit our Benefits section to learn more.
Sign-on Bonus Eligibility (if sign-on bonus offered for position): Internal employees and rehires who left Northwestern Medicine within 1 year are not eligible for the sign on bonus. Exception: New graduate internal employees seeking their first licensed clinical position at NM may be eligible depending upon the job family.
