Compensation Business Partner

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The Position

Job TitleCompensation Business Partner

Job Description

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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All Locations:Plano-Parkwood

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. 

First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.