Compensation Program Manager

Compensation Program Manager

Job Summary

The Compensation Program Manager designs, implements, and manages equitable compensation programs that align with UFCU’s business objectives and our purpose of empowering members to achieve financial success and brighter futures.

In this role, you’ll conduct compensation analyses, manage salary structures, pay grades, the Annual Incentive Program, and annual merit administration all to attract, motivate, and retain top talent.

Additionally, you’ll develop and deliver communication strategies and training to educate leaders and employees on compensation policies, all while contributing to our mission of supporting members’ financial well-being.

This position reports to the Manager, HR Operations.

About UFCU

Our credit union was chartered in 1936 and has grown to serve over 384,816 members. At UFCU, we are more than just a financial institution, and our people are more than just employees.

We are dedicated to serving our Members, empowering their financial success, and building financially healthy communities.

Our aspiration is to be loved by millions of members and built to thrive for generations . Our employees are not only part of our team but also Members themselves.

They are innovative, agile, and Member-obsessed leaders who strive to be the best and always do the right thing. We offer a competitive compensation and benefits package to support our employees and their loved ones, reflecting the fact that our people are at the center of everything we do.

UFCU fosters a collaborative, diverse, and inclusive environment that fosters innovation, performance excellence, and career growth.

If you’re looking for a challenging, purpose-driven career that makes a difference in our communities, UFCU is the place for U.

Join us and work with purpose.

Essential Functions

Compensation Program Management

• Conducts and manages the design, implementation and administration of all compensation programs that support organizational goals and business objectives, including base pay, variable pay, and other compensation-related programs, processes, and activities.
• Conducts and manages the annual and ongoing review process of compensation-related activities, to include salary structures, pay grades, compensation guidelines and documentation, incentive programs, variable pay, annual merit, and Annual Incentive Program (AIP) planning.
• Serves as a consultant to HR partners and leaders to provide expert guidance and recommendations on compensation-related matters, including offer of employment approvals, salary adjustments, promotions, and incentive plans.
• Conducts regular benchmarking, and analyzes compensation practices across relevant industries and geographic locations to ensure programs remain fair and competitive.

Compensation Strategy

• Researches, analyzes, develops, and recommends compensation strategies and updates to compensation philosophies based on organizational goals, industry trends, and best practices.
• Develops, recommends, and implements strategic and complex compensation plans to align with evolving strategies.

Compensation Budget and Expense Management

Collaborates with HR partners, Finance, and other stakeholders to ensure effective budgeting, forecasting, financial management, monitoring, assessment, reporting, execution, and communication and change management of compensation programs.

Annual Merit and Annual Incentive Plan (AIP) Program Management

• Develops, analyzes, forecasts, and recommends merit and AIP scenarios to Senior Leadership for budget, forecasting, reporting, and decision making purposes.
• Conducts, administers, and manages the annual merit and AIP calculations, forecasting, processing, reporting to Business Unit leaders, change management, and communications.

Process includes recommendations for base pay adjustments and annual incentive awards, as well as compliance with compensation guidelines and final reconciliations.

Compensation Analysis and Reporting

• Analyzes competitive market data for all job positions, job families, and departments. Reviews internal equity, and prepares proposals to leadership on potential pay adjustments.
• Creates and conducts market data presentations to leaders.
• Reviews job descriptions to determine compensation level, ensuring jobs are scoped appropriately to relevant market data.

Maintains job related data in HRIS.

• Analyzes pay structures, pay ranges, compa-ratios, and placement of all positions in pay ranges, and recommends adjustments as necessary.
• Utilizes data analytics and metrics to provide insights into compensation trends, cost analyses, and ROI of compensation programs.
• Collects, analyzes, and reports on compensation metrics and risk.
• Performs in-depth analysis on effectiveness and competitiveness of existing compensation programs and models potential impact of alternatives.

Compensation Communication and Education

Builds relationships with leaders to understand department structure, goals and business objectives. Educates leaders on compensation practices and provides subject matter expertise.

Aligns compensation approaches with business needs, developing creative solutions for compensation-related talent acquisition and retention.

• Partners with business leaders and Human Resources leadership to understand and support business objectives by providing analytical support, consulting, and compensation advice for their functional areas.
• Uses strong communication and analytical skills to drive understanding of compensation philosophies, practices and administration among leaders and in cascading to all levels of the organization.

Quality Assurance, Process and Technology Enhancements

• Regularly assesses the effectiveness of existing compensation programs, and recommend adjustments as needed.
• Performs annual audits to ensure compensation data integrity and pay equity for all active positions.
• Enhances workflows and maintains process documents for Compensation processes. Makes recommendations for streamlining processes and procedures.
• Advances Compensation practices through technology, including market pricing, pay equity analysis, salary structure management, pay grade analysis, salary survey management, and dashboards.
• Partners with HRIS team on process and systems enhancements, as well as data integrity.

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 Art, OFAC and Fair Lending Regulations.

Knowledge / Skills / Abilities

Knowledge

• Advanced understanding of complex compensation principles, strategies and models, including incentive, commission, and variable pay models
• Advanced knowledge of HRIS, compensation management systems, and Excel, including regression analyses and advanced formulas
• Solid knowledge of human resources policies, processes, and applicable laws

Skills

• Exceptional interpersonal, listening, collaborative, verbal and written communication skills
• Exceptional organizational, project management, analytical, and time management skills

Abilities

Build Partnerships and Communication

• Ability to effectively build relationships, establish rapport, and diplomatically communicate complex information
• Exceptional solutions and client service-oriented, with an emphasis on problem solving
• Ability to visualize and articulate problems and concepts in a systematic manner that appeals to business leaders while tailoring communications, formal or informal, to the audience

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 contribute to the development and implementation of strategic and complex compensation plans to align with evolving strategies
• Ability to see beyond the numbers to drive sound decision-making

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 a business-related field, with a preferred emphasis in finance, economics, statistics, mathematics or accounting
• 7+ years of professional experience administering compensation programs
• Experience developing, managing and administering variable pay and incentive plans
• Proven experience managing and administering compensation programs in a large, complex organization
• Must be bondable

Preferred Requirements

• Master’s degree
• Certified Compensation Professional (CCP) or Global Remuneration Professional (GRP) Certification
• 7+ years of compensation experience with a large, complex organization of more than 500 employees
• Working knowledge of executive compensation programs
• Experience in developing data visualizations 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

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.

• 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 schedule, overtime, and evening / weekend hours.
• Public contact position, requiring appropriate professional appearance.
• Frequent computer use at a workstation of up to two hours at a time.
• The noise level in the work environment is usually moderate.

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