Overview

At PenFed, we value our colleagues and are proud of our positive work environment. We are continually on the look-out for top performers who are interested in joining our team! Our mission is to provide our members the tools to reach their financial goals. Each employee at PenFed has an impact on our members, our colleagues, and our communities. If you are seeking to take your career to the next level, join our team!

PenFed is hiring a (Hybrid) Senior Compensation Analyst at our Tysons, Virginia location. The primary purpose of this job is to provide technical and analytical support to the design, implementation and maintenance of compensation programs at PenFed to ensure they are market competitive and align to PenFed's strategy. This position will partner with HR Business Partners in consulting directly with managers and employees in both written and oral form on compensation strategies, tacties, and methodologies.

Responsibilities

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

• Participate in the design, analysis, budgeting and implementation of base pay, bonus pay and incentive programs. Develop communications for salary, incentive and bonus programs for internal customer distribution.
• Develops, analyzes and maintains complex Excel reports to support data analysis on various projects.
• Assist in the development, implementation and administration of a system for pay for performance and variable incentive pay programs.
• Assist with the review and selection of compensation systems to conduct analysis and data analytics. Ensure latest technologies are regularly reviewed.
• Monitor, track and assess monthly and quarterly, incentives for several teams with varying scorecard requirements.
• Research compensation policies and plans to ensure that PenFed is offering the most current, cost effective and competitive salaries.
• Partner with business units to ensure variable compensation plans align with corporate compensation philosophy, and establish and maintain proper quality controls on the specific incentive plans for their departments.
• Provide operational analysis, reporting and trends related to compensation plans.
• Ensure that incentive strategies, plans, and operating processes are executed in a timely, scalable, efficient, high quality and consistent manner.
• Partner with HR Business Partners and Talent Acquisition to align new and existing positions by reviewing appropriate job pricing and classification, salary grades, internal equity and job leveling.
• Utilize position-specific information to modify existing position description and/or create new descriptions as needed. Accurately reflect current roles, responsibilities and requirements of each position.
• Working closely with HR Business Partners, respond to managers' request for job reclassification and salary reviews, providing documented reports as to how the determinations were made. This includes reviewing job questionnaires, conferring with managers and employees, evaluating job duties, comparing position descriptions, conducting desk audits, reviewing salary market data and internal equity in order to make a fair determination. Communicate with internal clients regarding the result of compensation work.
• Review jobs as part of a reorganizations and/or special projects, to include job audits and evaluations. Document position-specific findings and recommendations to contribute to a comprehensive project report.
• Develop and document procedures to streamline processes and ensure compliance with regulatory requirements. Work with appropriate HR staff to communicate and educate PenFed Management teams.
• Work with HRIS and IT staff to ensure that the HRIS system meets compensation needs and is updated to reflect changes to salary structures, bonus programs, and any other Compensation related transactions.
• Consulting with the Hiring Manager, using Human Resources procedures and working within the HRIS systems, to ensure all aspects of job creation are addressed in a timely manner i.e. creation of position numbers, posting of new and revised descriptions, etc.
• Research and analyze compensation data to provide insight and clarity in consideration of contract provisions, historical practices, salary equity, job classification, etc.
• Conduct salary review and determination for all new hire salaries using market data, internal equity and budget implications.
• Provide data input to annual salary surveys and other compensation data requests by federal, state and local regulatory agencies.

Qualifications

Equivalent combination of education and experience is considered

• Bachelor's Degree in Human Resources, Business Administration or a related field is preferred.
• Certification in compensation (CCP) or related HR generalist certification preferred
• Minimum of seven (7) years of experience, five (5) preferred, in Compensation principles or Human Resources including job evaluations, salary structure, salary administration and market pricing is required. Experience in sales and incentive compensation analysis preferred.
• Knowledge in PeopleSoft HRIS, Tableau and Data Analytics a plus.
• Experience in Microsoft Office suite to include Excel, Visio, and Power Point. Experience in Access is a plus.
• Ability and knowledge of computer database management, proficient in excel and organizing spreadsheets, and word processing documents, in order to produce and analyze large amounts of data and conduct sound evaluations.
• Building a rapport with employees and managers in conducting job reviews; Utilizing computer technology used for communication, data gathering and reporting; negotiation and problem solving.
• Exceptional consulting and partnering skills with cross functional HR teams, management, and employees.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may be required.

About Us

Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions with over 2.8 million members and over $36 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.

Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 240-224-4256.