Compensation Consultant

We are hiring for an exciting role that will lead key compensation projects at Prospera Credit Union. 18Month Contract.

The Compensation Consultant is responsible for planning, developing, managing, and implementing compensation programs, as well as supporting the delivery and administration of total rewards programs that drive employee engagement and a high-performing culture. The incumbent in this role partners with the Manager, Total Rewards, to ensure compensation design is externally competitive by monitoring market conditions and revising compensation structures and programs while supporting the other benefits and pension programs, policies, and procedures. A key component of this role is to implement and manage the compensation and incentive programs that support Prospera’s strategic initiatives and align with Prospera’s compensation philosophy. This role works with the Compensation Specialist and Compensation Analyst to execute on key deliverables, along with supporting coaching, training, and mentorship as needed.

What you’ll do: 

• Review, evaluate, redesign and manage compensation programs by collaborating with the Manager, Total Rewards, to ensure programs are performance driven, market competitive, legally compliant, accurately administered and effectively communicated.
• Lead large projects/ special projects, including the planning, project management, delivery, and successful execution of key initiatives.
• Lead the annual year-end cycle known as the Annual Compensation Review. In partnership with the Manager, Total Rewards, this role will actively manage the successful delivery of the Annual Salary Review process, which includes the merit budget, salary structure review, and base pay decisioning. They will also coordinate key activities that support the Variable Incentive Program (VIP). Lastly, the role will be responsible for the processing and oversight of the administration, including communication, letters, and system updates.
• Support the Director, Total Rewards and Manager, Total Rewards in managing Executive Compensation
• Lead comprehensive job analysis and evaluation process, ensuring Prospera jobs are compensated appropriately and equitably, complementing the employee value proposition, and improving Prospera’s ability to recruit, motivate and retain top talent.

• Lead any key projects or processes related to a review of Pay Equity, Pay Transparency, Fair Pay, or Equal Pay analysis that supports the equitable and fair review of compensation for all employees

• In collaboration with the Manager, Total Rewards, works with the HR Business Partners and People Leaders to identify compensation issues to improve, develop salary analysis and guide People Leaders on pay management actions & strategies.
• Oversee and guide all activities required as part of the annual compensation review process and variable Collaborates with PX on the communication and administration of the annual year-end performance and salary review process.
• Provide information and reports to the Manager, Total Rewards, Finance, Director, Total Rewards, and the People Experience Committee of the Board of Directors that allow them to make educated decisions about Prospera’s compensation philosophy, salary reviews, variable pay, benefits, and pension plans.
• Take responsibility for the development and delivery of compensation training workshops and tools to enhance PX and People Leaders’ compensation knowledge and understanding. Develops and maintains salary administration guidelines and compensation-related policies to support employees and leaders.
• Take responsibility for market data analysis to obtain the most credible data, and analyze to ensure internal equity, external competitiveness, and alignment with our total rewards Builds relationships with external resources to enable competitive research in a timely manner.
• Remain abreast of trends and developments in regulations that apply to compensation and total rewards programs.
• Communicate with key partners in Talent Acquisition, People Experience Business Partners, and business leaders on compensation-related matters and works closely with external compensation consultants.
• Advise internal and external parties on policies and approaches.
• Recommend process improvements to solve problems related to compensation and incentive program administration, reporting and plan design.

What you bring:

• University degree or equivalent in a Human Resources, Business, Finance, or related field; World at Work CCP certification completed or in progress is an asset.
• Five plus years of progressive experience in compensation, HRIS, and/or total rewards.
• Advanced level Excel skills, including data management, financial modelling and macros, business analysis report writing, and strong analytical and problem-solving skills, including development of analytical models.
• High degree of accuracy and capacity to work with detailed data; ability to maintain confidentiality with highly sensitive information.
• Demonstrated competence in multiple compensation disciplines such as broad-based pay, executive comp, pay equity, sales comp, job analysis + evaluation, job architecture),
• Proven influencer and collaborator abilities, with the ability to provide guidance and support for business leaders, including senior management and individual executives, in the areas of compensation and benefits.
• Demonstrated capability, energy, experience, presence, and outlook to establish credibility with the management team quickly.
• Proven experience partnering with a variety of stakeholders, including senior business leaders, in a consultative and analytical capacity, with a focus on relationship management and cultivating strong business.
• Client-focused and people-centric, with a get-it-done approach that is effective and marked by a high level of energy.
• Proactive in identifying opportunities to evolve current practices, developing, and effectively introducing alternatives to current HR practices as appropriate.
• Program and project management skills, with a proven track record of execution and results.
• Sound judgment, business acumen and the ability to contribute to the business as a whole.

What We Offer: 

Prospera Credit Union is a community-based, purpose-driven organization that offers our members a full range of financial products and services. As one of the largest credit unions in British Columbia, we help build vibrant, healthy communities, thriving local enterprises and financially empowered people. Prospera is proud to serve communities throughout the Lower Mainland, Fraser Valley and Okanagan.

• Prospera offers a total compensation package of base salary plus incentives that is market competitive and reviewed annually. Our expected starting salary for this role is $83,250 to $92,500 based on the successful candidate’s knowledge, experience and internal equity.
• Flexible Work Program for some of our roles – ask us!
• Flexible Benefits Program – pick and choose what works best for you.
• Defined Contribution Retirement Plan – let’s start saving and keep your future in mind.
• Vacation, Wellness and “Prosperian” Days – paid time off to support your overall well-being.
• Professional development – come grow your career and develop your skills.
• A supportive, collaborative work environment- we’re proud to be a Great Place to Work certified organization.