Compensation Business Partner

SUMMARY

The Compensation Business Partner is an important member of the compensation team, responsible for managing day-to-day requests for compensation data and analysis, supporting compensation projects, and ensuring timely and accurate salary survey submissions. This role combines tactical responsibilities with a focus on delivering high-quality, data-driven insights to support the organization's compensation strategies and initiatives.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

Day-to-Day Compensation Data and Analysis

• Respond to and resolve daily requests from HR Business Partners and managers related to compensation data, job evaluations, and pay recommendations.
• Conduct individual and group pay analyses to ensure internal equity and external competitiveness.
• Generate reports and dashboards to provide actionable insights into compensation trends and metrics.

Support for Compensation Projects

• Assist the Director of Compensation with key projects, including merit cycle preparation, incentive compensation payout administration, and job architecture initiatives.
• Manage timelines, deliverables, and communication for assigned project components.
• Collaborate with cross-functional teams to execute compensation-related initiatives.

Salary Survey Submissions

• Coordinate and lead the submission of salary surveys, ensuring accurate and complete data entry.
• Analyze survey results to benchmark roles and identify market trends.
• Maintain a comprehensive database of benchmark roles and compensation data using Payfactors compensation management system.

Job Evaluation and Market Benchmarking

• Perform job evaluations using established methodologies to ensure consistent leveling across the organization.
• Match jobs to external market benchmarks and recommend salary ranges based on market data.

Compliance and Documentation

• Ensure compliance with federal, state, and local compensation laws and regulations.
• Maintain accurate records of compensation decisions, survey submissions, and job evaluations.
• Support audits and provide documentation as required.

Stakeholder Collaboration:

• Partner with HR, Talent Acquisition, and managers to address compensation-related inquiries.
• Under the guidance of the Director of Compensation, provide recommendations on job offers, promotions, and pay adjustments to ensure internal equity and alignment with the market.
• Communicate findings and recommendations clearly and effectively to stakeholders at all levels.
• Provide training and education to managers on compensation philosophy and processes.

Continuous Improvement

• Identify opportunities to enhance processes related to data requests, survey submissions, and analysis.
• Stay up to date with industry trends and best practices in compensation management.
• Leverage HRIS and other tools to streamline compensation processes and reporting.

REQUIRED EDUCATION AND WORK EXPERIENCE

• Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.
• 5+ years of experience in compensation analysis, consulting, or related roles, with a focus on tactical responsibilities.

KNOWLEDGE AND SKILLS REQUIREMENTS

• Advanced proficiency in Microsoft Excel and experience with compensation systems or HRIS platforms (Workday preferred).
• Strong attention to detail with excellent analytical and organizational skills.
• Effective communication and interpersonal skills to work with stakeholders across the organization.
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.

• Certifications (Preferred):
  • Certified Compensation Professional (CCP) or similar credentials.

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If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.