Compensation Analyst

Compensation Analyst

The Compensation Analyst supports the administration, analysis and ongoing maintenance of competitive compensation programs while providing analytical and operational support for compensation processes and decisions. This role conducts detailed compensation analyses, job evaluations, and market pricing to support pay decisions and compensation program execution. The analyst assists in maintaining salary structures, pay grades, and pay programs, ensuring compliance with compensation regulations and policies. Additionally, this role supports the maintenance and enhancement of compensation tools, data governance and process documentation to streamline compensation operations and improve data accuracy. This position collaborates closely with the Compensation & People Analytics Program Manager and HRBPs to provide compensation guidance and support compensation-related projects and annual cycles. This position reports to the Director, Rewards & People Ops.

Our Credit Union was founded in 1936 and has grown to serve members throughout Texas and beyond. At UFCU, we are more than just a financial institution, and our people are more than just employees. We are dedicated to our purpose of empowering our Members to achieve financial success and build brighter futures. In pursuit of our aspiration that UFCU is loved by millions of Members and built to thrive for generations, we are guided by our values:

Purposefully Member-Obsessed

We are driven by a profound sense of empathy to deeply understand our Members' needs and preferences, what brighter futures means to them, and the obstacles in their way. We act in our Members' best interests, forever seeking to empower their financial success.

Possibilities Reimagined

We are inspired to courageously experiment, learn, and iterate in pursuit of positive impact for our Members, UFCU, and coworkers. We challenge assumptions, embrace diverse perspectives, and make use of data and insights.

Performance Excellence Rooted in Unwavering Integrity

We do the right thing, always. We champion teamwork, accountability, continuous improvement, and celebrate successful outcomes of others, fostering an inclusive environment of excellence and collaboration.

Essential Functions

• Supports the execution of compensation programs, including base pay, variable pay, and annual compensation cycles.
• Maintains pay structures and compensation data, including updates within the HRIS and other compensation-related tools
• Supports annual merit and Annual Incentive Plan processes through data preparation, reporting, validation, reconciliation and documentation
• Supports annual compensation budgeting through data preparation, reporting, modeling, and variance analysis
• Participate in external compensation surveys and analyze results of survey data

Compensation Analysis & Market Evaluation

• Conducts compensation analyses to support employment offers, promotions, transfers, salary adjustments, and incentive compensation decisions
• Performs job evaluations and market pricing using survey data and compensation tools to support competitive and equitable pay decisions
• Supports the analysis, modeling, and forecasting of merit and Annual Incentive Plan (AIP) scenarios to inform budgeting, reporting and leadership decision-making
• Conducts benchmarking and trend analysis to assess market competitiveness and support compensation recommendations

Business Partnership & Advisory Support

• Supports Compensation and People Analytics Program Manager and HRBPs by providing data and analytical support for compensation plans helping ensure program effectiveness and impact
• Responds to compensation-related questions from HRBPs by providing data, analysis and guidance within established compensation frameworks
• Prepares compensation reports and supporting analyses for annual cycles and ad hoc requests

Compliance, Governance & Documentation

• Supports compensation compliance activities, audits, and documentation to help ensure alignment with company policies and applicable regulations
• Maintains compensation process documentation, job descriptions, and related materials to support consistent program administration
• Monitors compensation-related regulatory changes and supports updates to policies, practices, and documentation as needed

Systems, Data Integrity & Process Improvement

• Maintains data quality within compensation-related systems through audits, reconciliations, and routine validation checks
• Supports process and system enhancements in partnership with the Compensation & People Analytics Program Manager and HRIS team
• Identifies opportunities to improve reporting, workflows, documentation, and operational efficiency across compensation processes

Other

• Performs other duties as assigned
• Adheres to all organizational policies, procedures and business ethics codes
• Completes required regulatory training as assigned
• Maintains strict adherence and compliance to all laws, rules, regulations, policies, procedures and internal controls specific to the role, including but not limited to Bank Secrecy Act, Anti-Money Laundering, USA Patriot Act, OFAC and Fair Lending Regulations

Knowledge/Skills/Abilities

Knowledge

• Demonstrated knowledge of compensation principles, practices, and methodologies
• Strong analytics skills, with proficiency in Excel and HRIS/reporting tools
• Solid understanding of market survey methodologies
• Solid knowledge of human resources policies, processes, and applicable laws

Skills

• Effective interpersonal, listening, collaborative, verbal and written communication skills
• Attention to detail and commitment to delivering accurate work within deadlines

Abilities

Build Partnerships and Communication

• Ability to effectively build relationships, establish rapport, and diplomatically communicate information
• Strong problem-solving skills and initiative, with a collaborative approach to working in teams

Emotional Intelligence and Focus on Results

• Ability to demonstrate empathy and excellent teamwork skills
• Ability to effectively demonstrate integrity and accountability, as well as focus on results

Adaptability and Decision Making

• Self-starter who is motivated to successfully assist with complex project deliverables
• High degree of adaptability with the ability to work under tight deadlines and changing needs
• Ability to support the analysis and implementation of compensation programs and processes in support of business and talent objectives

Core Competencies

• Demonstrating Member Obsession
• Puts themselves in the Member's shoes
• Looks for friction points
• Makes it personalized and easy
• Demonstrating Performance Excellence
• Sets standards for elevating excellence
• Ensures elevated quality
• Takes responsibility
• Conducts continuous improvement
• Demonstrating Innovation
• Challenges current thinking
• Approaches change with a positive mindset

Experience

Minimum Requirements

• Bachelor's degree in Business Administration, Human Resource Management, Finance, or other field
• 3-5 years of compensation experience
• Experience using compensation planning and pricing tools/platforms
• Advanced Excel proficiency
• Must be bondable

Preferred Requirements

• Master's degree
• Certified Compensation Professional (CCP) or Global Remuneration Professional (GRP) Certification
• Experience with UKG
• Experience using analytics software such as Tableau or Power BI
• Financial institution or Credit Union experience

Physical Demands

The physical demands described here are representative of those that must be met by an employee in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle or feel; reach with hands and arms; and talk or hear.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and ability to adjust focus.
• Employee will make extensive use of the telephone requiring the ability to effectively and accurately explain complex information.

Work Environment

• Position is expected to work onsite at UFCU Plaza in Austin, Texas at least one day per week but up to three days per week.
• This position may involve periodic stressful conditions.
• May occasionally require an adjusted work