The Compensation Analyst supports the company in planning, documenting, and calculating compensation programs, policies, and procedures. This role works closely with management and People Operations team members to ensure alignment of compensation strategies across the organization. The Compensation Analyst will recommend solutions to support the corporate compensation philosophy while incorporating industry best practices. Experience in the mortgage industry and expertise in processing sales commissions are essential for success in this position.
Essential Duties and Responsibilities
- Serve as the primary subject matter expert for compensation-related matters, offering guidance and support to business functions across the organization.
- Oversee the accurate calculation, reporting, and timely payment of all variable compensation plans, including but not limited to sales commissions and loan operations bonuses.
- Calculate and process sales commissions using the internal incentive pay platform, ensuring accurate and timely commission payouts in accordance with company policies and compensation plans.
- Assist in the implementation and delivery of various Compensation projects.
- Lead the setup, configuration, and ongoing maintenance of variable compensation plans within internal systems, ensuring proper alignment with organizational objectives.
- Collaborate with internal teams to implement improvements in compensation-related systems and processes.
- Manage the development of comprehensive job descriptions and ensure accurate alignment of job roles and responsibilities.
- Manage the gathering of information for compliance related audits on compensation plans, calculations, incentive payout records, and other related assignments.
- Perform market pricing and benchmarking for jobs within the organization, leveraging external market surveys to ensure competitive and equitable compensation structures.
- Partner with internal teams and business leaders to provide guidance and interpretation of compensation policies and guidelines.
- Research, collect and analyze data to determine appropriate compensation, grade level and title for proposed new roles and re-evaluations of current positions.
- Participate in salary surveys to maintain current competitive data, summarizing analysis results.
- Build strong working relationships with various cross functional groups to understand and deliver on business needs.
- Prepare regular and ad hoc commissions and compensation reports for Finance and Accounting departments, ensuring accuracy and timely delivery.
- Maintain a high level of confidentiality and ensure compliance with all federal, state, and local compensation laws and regulations.
- Additional duties and responsibilities assigned due to business needs.
Qualifications
- Excellent verbal and written communication skills.
- In-depth understanding of US HR best practices, employment laws, and compensation regulations.
- Strong knowledge of US federal and state laws and regulations regarding compensation practices.
- Exceptional attention to detail, problem-solving skills, organizational skills, and critical thinking skills.
- Proven ability to build relationships across diverse groups.
- Capable of managing multiple tasks independently, delivering results quickly, and thriving in a fast-paced environment.
- Education, Training, and Experience
- High school diploma required; bachelor's degree preferred in Human Resources, Accounting, Business Administration, or a related field.
- 3+ years of experience in compensation.
- 2+ years of experience in commission and bonus calculations.
- Previous experience within the mortgage industry is a good-to-have.
- Proficiency with Ncino (formerly CompenSafe) is not required but preferable.
- Proven experience with system implementation.
- Experience working with HRIS systems.
- Advanced Excel skills
