Compensation Analyst

CORE RESPONSIBILITIES AND TASKS:

The Compensation Analyst will apply expertise to support finance and global compensation teams in the administration of variable pay programs within the Varicent incentive plan system, operating as part of the Compensation Center of Excellence (COE).

(1) Incentive Compensation Management:

• Ensure timely and accurate incentive payouts for payees within the Varicent system, including quarterly payout checklists, manual calculations, auditing, and responding to complex inquiries escalated from Compensation Specialists.
• Serve as the primary liaison with Finance for territory budgeting, overseeing initial proposed budget setup each Q1 and collaborating with Enterprise and Division Finance teams to ensure ongoing accuracy of budget and actual data through system uploads, table updates, and necessary budget adjustments.
• Act as the main point of contact for inquiries related to assigned Incentive Plans.
• Generate and communicate payout files for US Quarterly/Annual Plans.
• Lead Varicent system management activities, such as, new year configurations and new plan implementations.
• Responsible for calculating, obtaining approvals for, and processing manual payout adjustments in alignment with compensation policies and timelines.
• Oversee administrative processes including exception resolution, budget modifications, and manual data uploads using Excel to ensure accuracy and efficiency in compensation operations.
• Develops and maintains Standard Operating Procedures (SOPs) to support operational efficiency and knowledge transfer.

(2) Varicent Key Strategic Initiatives & Process Improvement:

• Lead tasks related to the implementation of new compensation plans and modifications to existing plans within the Varicent system.
• Facilitate requirement-gathering sessions with stakeholders to define business needs and plan objectives.
• Build and update compensation plans in Varicent, ensuring alignment with organizational goals and compliance standards.
• Develop and execute comprehensive testing strategies to validate plan functionality and accuracy.
• Ensure all necessary data elements are present and properly integrated to support plan execution.
• Ensure new plans and plan changes function in Varicent and meet the users needs.
• Document standard operating procedures (SOPs) for all new and updated plan processes to ensure consistency and knowledge transfer.
• Process Improvement - continually improve processes.
• Develop new methods and systems to enhance functions.
• Proactively troubleshoot potential issues and recommend solutions.

(3) Comprehensive Responsibilities:

• Deliver Varicent system training and onboarding support to new users, ensuring effective adoption and utilization.
• Conduct job grade evaluations, market benchmarking, and organizational structure analysis.
• Provide analytical support for ad hoc projects and initiatives.

"Job duties include contact with other employees and access confidential and proprietary information and/or other items of value, and such access may be supervised or unsupervised. The Company therefore has determined that a review of criminal history is necessary to protect the business and its operations and reputation and is necessary to protect the safety of the Company's staff, employees, and business relationships."

POSITION REQUIREMENTS:

FORMAL EDUCATION:

Required:

• Bachelor's degree in Accounting, Finance, Human Resources, or General Business

Preferred:

• CCP Certified Compensation Professional

KNOWLEDGE & EXPERIENCE:

Required:

• 3+ years of Accounting/Finance/Human Resources OR 2+ years as a Compensation Professional

Preferred:

• Compensation Experience in a professional setting.
• Exposure to Varicent Incentive Plan System.

TECHNICAL/SKILL REQUIREMENTS:

Required:

• Analytical skills and ability to comprehend incentive plan logic and Varicent logic
• Communication skills ability to clearly communicate to key employees (Sales Management, Finance, VPs of HR) both verbally and written.
• Knowledge of MS Excel formulas (LOOKUP's, Pivot Tables) for analysis and reporting.
• Ability to meet time sensitive deadlines as well as ad-hoc requests.
• Exceptional Customer Service skills
• Exceptional attention to detail and accuracy.
• Adaptability to change.
• Desire and ability to make improvement.

TRAVEL REQUIREMENTS: (TIME SPENT AWAY FROM HOME OR OTHER TYPICAL OFFICE LOCATION)

• 10%