Compensation & Benefits Analyst

Brief Description

The Compensation and Benefits Analyst serves as the remuneration professional overseeing employee compensation, compensation databases, benchmark compensation, and employee benefits. This role oversees and focuses on preparatory and repetitive tasks resulting in high quality data relied upon by the organization related to compensation and benefits. Participates in various HR projects as a regular team member and provides support and input for successful project completion.

Responsibilities

• Employee Relations with regard to all benefits-related questions
• Provide Benefits administration for 401(k), wellness, HSA, HRA and life insurance
• Subject matter expert on the organization’s compensation plan and retention plan
• Coordinates communication with employees and ensures compliance with policies and regulatory requirements for FMLA, Workers Compensation and USERRA
• Coordinates communication with employees for short-term disability and long-term disability
• Prepares data for compensation and benefits analysis
• Clean reported data and checks the quality of data
• Provides data-related support to HR and executive management
• Liaison with the salary benchmarking external consulting company
• Recommends the most appropriate compensation and benefits surveys for the organization, as benchmarks
• Participates in annual compensation and benefits surveys
• Analyzes existing wage and compensation policies, strategy and philosophy
• Fulfills all reporting requirements of relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA)
• Reviews and analyzes 401k plan limits, contributions, true-up and overages
• Complete understanding, coordination and interpretation of Summary Plan Descriptions, Plan Documents, Adoption Agreements, Basic Plan Documents, Recordkeeping Agreements, Contracts and Amendments making sure they are in complete alignment
• Works closely with vendors to handle all compliance testing, annual testing, non-discrimination testing, census reporting’s for 401k and other company benefits
• Oversees vendor performance, proactively communicating expectations, and identifying areas for improvement
• Assists with determining plan design, program research, and renewals
• Implements wellness programs
• Administers all associate benefits programs, including enrollments, participates in audits, and discrimination testing
• Remains current regarding the full details of the benefits programs offered to associates, performs benefit orientation and annual open enrollment meetings
• Coordinates and attends meetings with insurance companies, third party administrators, consultants, brokers, and other benefits vendors
• Remains current with changing policies, technologies, services, and regulations (state and federal)
• Prepares presentations, including coordination of renewal recommendations to executive leadership
• Drives process improvement and documentation
• Deploy effective communication strategies and success metrics
• Reviews proposed compensation changes using defined rules (salary changes, variable pay changes, incentive plan change/allocations)
• Advises other members of HR team on compensation and benefits-related topics
• Participates in HR Team initiative for Baystar Annual Health Fair
• Analyze and evaluate jobs / positions
• Maintains knowledge of economic conditions, labor market, and other factors related to ensuring the organization provides competitive and reasonable benefits and compensation scales and structures
• Other duties as assigned
  
  
  

CORE VALUES

Must exhibit and demonstrate our 5 Core Values

• Caring: Dedicated to Safety, Employees, Customers, Community and Environment
• Trustworthy: Living a Culture of Openness, Honesty and Collaboration
• Focused: Creating Value by Delivering the Right Solutions
• Innovative: Daring to be different by finding New Ways
• Fun: Embracing our Diverse Family and Celebrating our Success
  
  
  

COMPETENCIES

• Job Knowledge - Understands facets of job, aware of duties and responsibilities, keep job knowledge current
• Productivity - Manages workload, works efficiently, meets goals and objectives
• Quality - Strives to eliminate errors, accurate work is a priority, seeks opportunities to improve product/services
• Safety – HSSE - Works in a safe manner, uses PPE, recognizes hazards, makes safety suggestions and observations, current on Training Mine
  
  
  

Qualifications / Experience Required

• Bachelor Degree in Human Resources Management, Finance, Math, Business Management or related field preferred; or equivalent work experience.
• 2 years of experience in compensation, including survey participation and participation in
  
  
  

annual compensation cycles

• Highly trained in labor costs, salary analysis and benefit structures
• Excellent analytical, problem solving, and decision-making skills
• Detail oriented and precise with excellent organization skills
• Exceptional communication skills, both verbal and written
• Strong computer skills and proficiency with Microsoft Office Suite (Word, PowerPoint); ability to develop presentations and group presentation skills, advanced Excel skills including pivot tables and formulas required
• Understanding of basic compensation or financial fundamentals, statistics, or cost analysis required
• Knowledge of benefit contract language
• Demonstrated knowledge and clear understanding of compliance requirements, and federal and state regulations such as ERISA, COBRA, ACA, ADA, Medicare, Social Security, Safe Harbor, IRS and DOL requirements, FLSA, Wage and Hour.
• Working knowledge of job analysis systems and compensation strategies, familiarity with various types of incentive and benefits programs
• Minimum of 3 years’ experience with analytical processes with knowledge of Compensation and/or Benefits programs required
• Strong analytical, time management and communication skills
• Track record of correctly organizing and executing competing priorities
• Team Player with willingness to cross-train / support other department functions
• Ability to maintain strict confidentiality
  
  
  

Preffered Skills And Experience

• Certified Compensation Professional designation
  
  
  

Physical Capacity Requirements

This position requires the incumbent to:

• Follow safety requirements (goggles, PPE, etc.) when inside plant environment
• Lift up to 10 pounds
• Walk safely in and around industrial areas
• Speak publicly (such as at employee meetings)
• Sit for extended periods of time at a computer and work with computer-based data