Finance, Economics, Banking, Healthcare, Human Resources
4 Year Degree
Memorial Health System is currently seeking a Senior Compensation Analyst to join our Compensation Department!
The Senior Compensation Analyst provides advanced consulting and analytical expertise to support the development, design, implementation and administration of compensation programs, practices, and policies to meet the changing needs of Memorial Health System's compensation program and associated practices.
Sr. Compensation Analyst*
*This position is part of a 2 level job family. Placement is contingent upon applicant’s background and skills.
Analyzes, evaluates and develops recommendations to maintain a compensation program that ensures internal equity, external competitiveness and is in compliance with applicable regulations and policies.
Leads the market pricing analysis process by coordinating and conducting periodic market reviews analyzing the competitive position of salary ranges, employee salaries and other compensation plans.
Evaluates market and economic trends to recommend adjustments, hiring rates for salary structures, and individual rates as required.
Participates in salary surveys and analyzes survey data.
Evaluates jobs independently, reviews qualifications and licensure requirements for compliance with legal guidelines, and makes recommendations regarding salary range placement. Determines exempt status based on FLSA regulations.
Recommends incentive eligibility based on criteria outlined in the plan document.
Explains grade designations to supervisors as well as conducts audits and analyzes positions system-wide to maintain grade equity.
Assists in the development of the fiscal year market budget for the system.
Works directly with senior executive leadership in the administration of the annual executive compensation incentives, merit increases, and performance appraisal processes.
Education: Education equivalent to graduation from college (or the equivalent in related work experience) is required. Master’s degree in business administration, human resources, or finance or comparable is preferred.
Licensure/Certification/Registry: Has attained (or is actively pursuing) the Certified Compensation Professional (CCP) designation or comparable compensation designation is required. Professional human resources certification(s), i.e., PHR, SPHR, SHRM-CP, SHRM-SCP is preferred.
Experience: Four or more years' experience as a Compensation Analyst, some of which includes experience leading compensation projects or project components, is required. Experience as a Compensation Analyst in a health care setting is strongly preferred.
Possesses an in-depth knowledge of market pricing, job evaluation methodologies and base/incentive compensation administration.
Thorough working knowledge of compensation theories, practices, and applicable federal and state labor laws.
An intermediate-to-advanced level proficiency with Microsoft Word, Power Point, Excel, HR Information Systems, and compensation database systems.
Excellent accuracy & attention to detail when working with data/information.
Demonstrated ability to balance the needs of the organization while flexing to changing work priorities.
Ability to work with leadership on confidential and time-sensitive matters.
Excellent oral and written communication, with the ability to be persuasive and deal with potential conflict.
Ability to serve as a technical expert and trainer on compensation matters.
Must be able to maintain confidential information safe and secure at all times.
May be required to work beyond regular business hours to meet MHS needs.
Experience with incentive compensation programs within a health care system.
Sound working knowledge of HR Lawson, crystal report writing and MS add-ins.
Memorial Health System of Springfield is a community-based, not-for-profit corporation dedicated to patient care, education and research. As an acute-care hospital with 507 licensed beds, Memorial Medical Center offers comprehensive inpatient and outpatient services. We’re a teaching hospital affiliated with Southern Illinois University School of Medicine and seven regional nursing academic instit...utions. In 2006, the American Nurses Credentialing Center recognized us as a Nursing Magnet Hospital (http://www.nursecredentialing.org/default.aspx) and we are a 2 time Employer of Choice (http://employerofchoice.com).