Principal Executive & Incentive Compensation Analyst

Description

Medica is a nonprofit health plan with more than a million members that serves communities in Minnesota, Nebraska, Wisconsin, Missouri, and beyond. We deliver personalized health care experiences and partner closely with providers to ensure members are genuinely cared for.

We're a team that owns our work with accountability, makes data-driven decisions, embraces continuous learning, and celebrates collaboration - because success is a team sport. It's our mission to be there in the moments that matter most for our members and employees. Join us in creating a community of connected care, where coordinated, quality service is the norm, and every member feels valued.

The Principal Compensation Analyst is the organization's subject matter expert for executive compensation strategy, governance, and incentive plan design. This role leads executive pay benchmarking, incentive modeling, and governance activities, including preparation of materials for senior leadership and the Board. The role provides deep technical expertise across STI, LTI, and Sales compensation, partners closely with Finance, Legal, and external consultants, and ensures strong governance, compliance, and pay-for-performance alignment. This is a highly specialized individual contributor role with enterprise and executive level impact. Perform other duties assigned.

Key Accountabilities:

• Executive Compensation Strategy & Governance
  • Lead executive compensation benchmarking, peer group analysis and competitive market assessments
  • Own annual and long-term incentive plan modeling, pay-for-performance assessments, and scenario analyses
  • Coordinate with external consultant (e.g. WTW, Mercer) and ensure alignment with governance best practices
  • Develop materials for the Personnel & Compensation Committee of the Board, including philosophy updates, compensation frameworks, incentive plan design changes, and regulatory considerations
  • Partner with VP, HR Operations, Total Rewards, and ER and CPO on executive recommendations and governance alignment
• Incentive Plan Design & Modeling (STI, LTI, Sales)
  • Provide thought leadership and subject matter expertise on short-term incentives (STI), long-term incentives (LTI), and sales incentive plans, including performance metrics, payout curves, and scenario analyses
  • Provide thought leadership on incentive design to support pay-for-performance outcomes
  • Lead sales compensation modeling and governance in partnership with Finance and Sales leadership
  • Assess financial and behavioral impacts of incentive programs
• Advanced Analytics & Advisory Support
  • Conduct complex financial modeling and pay-for-performance analyses to support executive decision-making
  • Translate complex compensation analytics into clear insights for senior leaders
  • Serve as a trusted advisor on executive and incentive compensation matters across the organization
• External Consultant & Market Engagement
  • Partner with external executive compensation consultants (e.g. Mercer, WTW) on benchmarking, governance, and program design
  • Manage survey participation and interpretation related to executive and incentive compensation

Required Qualifications:

• Bachelor's degree in HR, Finance, Business, Economics, or related fields
• 8+ years of progressive compensation experience, with significant focus on executive and incentive compensation

Preferred Qualifications:

• Master's degree in HR, Finance, Business, Economics, or related fields
• Executive Compensation Expertise
  • Deep expertise in executive compensation strategy, governance, and regulatory considerations
  • Advanced executive benchmarking, peer group development, and competitive analysis
  • Experience support executive pay decisions and governance forums
• Incentive Plan Design & Modeling
  • Advanced design and modeling of STI, LTI, and Sales compensation plans
  • Strong financial acumen, including scenario modeling, payout curves, and performance metrics
  • Ability to assess financials, behavioral, and governance impacts of incentive programs
• Board & Executive Advisory Skills
  • Experience preparing executive and Board level materials, including Compensation Committee deliverables
  • Ability to translate complex analyses into concise, executive-ready narratives
  • High discretion, sound judgement, and comfort handling sensitive information
• Advanced Analytics & Technical Capability
  • Expert level Excel and financial modeling skills
  • Strong analytical rigor with attention to detail and accuracy
  • Ability to independently own complex analyses end-to-end
• External & Market Engagement
  • Experience partnering with external executive compensation consultants (e.g. Mercer, WTW)
  • Strong understanding of market data sources, surveys, and benchmarking practices
  • Ability to evaluate and apply external insights to internal strategy

This position is an Office role, which requires an employee to work onsite at our Minnetonka office, on average, 3 days per week.

The full salary grade for this position is $115,400-$197,800. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $115,400-$156,560. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data. In addition to base compensation, this position may be eligible for incentive plan compensation in addition to base salary. Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.

The compensation and benefits information is provided as of the date of this posting. Medica's compensation and benefits are subject to change at any time, with or without notice, subject to applicable law.

Eligibility to work in the US: Medica does not offer work visa sponsorship for this role. All candidates must be legally authorized to work in the United States at the time of application. Employment is contingent on verification of identity and eligibility to work in the United States.

We are an Equal Opportunity employer, where all qualified candidates receive consideration for employment indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information, or any other protected characteristic.