Compensation Specialist

5 months ago

Nanaimo, Canada Coastal Community Credit Union Full time

**Position Type**: Permanent

**Together, Let’s Do Great Things**

We’re the largest financial institution based on Vancouver Island and the Gulf Islands, and we’ve got an opportunity for you. Join our Compensation Team as the **Compensation Specialist** and be the driving force behind our competitive and equitable compensation framework, ensuring success and employee satisfaction. By working collaboratively with other teams, you'll play a vital role in shaping our organization's bright and prosperous future.

**What’s the role?**

As the **Compensation Specialist**, you are responsible to support Coastal Community's employee compensation and rewards programs. You will support the design, implementation, and administration of the compensation structure to attract, retain, and motivate our diverse workforce. As the **Compensation Specialist** you will require a keen understanding of compensation principles, strong quantitative and analytical skills, and the ability to work collaboratively with various departments to maintain a fair and competitive compensation framework.

Your duties will include:

- Collaborating with the HR team to develop, communicate, implement, and administer compensation policies, programs, and procedures.
- Assisting with championing the compensation strategy, philosophy and total rewards program to all stakeholders within the organization.
- Conducting job evaluations and market analyses to ensure the compensation structure is competitive, strategic with industry and compliance standards, and aligned with internal policies and practices.
- Assisting in updating job evaluation and job classification processes and maintaining the master compensation records for dissemination.
- Administering salary surveys and analyzing market trends to make recommendations for salary adjustments.
- Assisting in the development of incentive and bonus programs that drive employee performance and align with organizational goals.
- Assisting and supporting the annual salary review process and other compensation cycles as requested, including the planning, budgeting, communication, and implementation of compensation changes.
- Providing expertise and guidance to managers and employees on compensation matters, including job offers, promotions, and reclassifications.
- Monitoring and ensuring compliance with all federal, provincial, and local compensation laws and regulations, and keep up with industry practices, issues and emerging trends.
- Maintaining accurate and up-to-date compensation data and records.
- Auditing, analyzing and reporting on compensation metrics to support data-driven decision-making.
- Assisting in the preparation of compensation-related reports and presentations for senior management and the board of directors.

**What are we looking for?**
- Bachelor's degree in HR or related field or combination of education and experience
- Certified Compensation Professional (CCP) designation is an asset
- Project Management certificate or equivalent experience is an asset

Ideally, you are a flexible, collaborative team player with:

- 3+ years of experience in compensation administration, preferably in the financial services industry
- Knowledge or experience of pay equity legislation and pay transparency practices
- Experience with job evaluation methodology (point factor and classification), job analysis systems and labour market surveys
- Experience with data management, specifically with validating and auditing data and reports from multiple systems
- Experience with compensation survey software (Korn Ferry)
- Demonstrative experience with collecting, analyzing, reporting and presenting data. Working with people data and using HRIS and other systems to run reports and metrics
- Strong working knowledge with Microsoft Office products, including Word, and PowerPoint

If you’re an approachable problem solver who embraces self-development and life-long learning, you’ll be a great fit with us.

**Who are we?**

Since first forming in 1946, Coastal Community has grown to become the largest financial services provider based on Vancouver Island. We’re proud of the legacy we’ve built and the things that make us who we are:

- We’re 100% member-owned, with all decisions made locally—right here on Vancouver Island.
- We’re a growing organization with over $4 billion in assets under management. Coastal Community helps improve the financial health of over 100,000 members and clients through our 24 branches, 16 insurance offices, 4 business centers, plus our wide range of online and digital services.
- We believe in making meaningful contributions to the communities we call home. Each year, we give over half a million to community organizations and programs.

Embarking on a journey with Coastal Community means joining an exceptional team, engaging in meaningful work, and enjoying fulfilling experiences along the way. We offer a generous total rewards package and a great work/life ba

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