Compensation Analyst

Why FirstOntario?

• Competitive compensation packages
• Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Job Overview

The Compensation Analyst is a critical addition to our Total Rewards team. In this high-impact role, you will be a strategic partner in evolving our Total Rewards function. From redesigning of our job evaluation methodology to modernizing compensation programs and optimizing Dayforce, your work will directly shape our future.

We are looking for a data-driven expert who balances technical expertise with strategic insight. If you excel at complex data modeling, legislative compliance, and translating analytics into competitive program enhancements, we want to hear from you.

Core Responsibilities

Job Evaluation and Benchmarking

• Support the implementation and roll-out of a new Job Evaluation methodology (Mercer eIPE system).
• Evaluate roles using the new job evaluation methodology.
• Assist in benchmarking roles against credit union and broader financial services peers to maintain market competitiveness.
• Conduct formal reviews of proposed compensation packages for new hires and promotional changes, validating internal and external equity prior to final offer extension.

Annual Year-End Cycle

• Develop year-end guidelines and material by collecting market data, modeling scenarios, and performing cost impact analysis.
• Support the end-to-end delivery of the annual merit increase and Short-Term Incentive (STI) payout processes through Dayforce.

Program Governance & Design

• Assist in developing compensation governance policy to manage pay for new hires, promotions, and lateral moves.
• Conduct data modeling to support the design and maintenance of the salary structure.
• Recommend improvements to the short-term incentive program and other variable incentive plans.
• Using the market compensation review and job evaluation results, develop salary structure and perform the cost impact analysis.
• Assist with Executive Compensation program design and management.
• Develop communication materials for leaders and employees regarding program design changes.

Pay Equity & Legislative Compliance

• Working with an external consultant, lead the annual pay equity review including the determination of job classes, gender predominance, job rate calculations and development of pay equity plan.
• Execute job-to-job and/or proportional value comparisons to identify pay gaps and develop process to close any gaps.

Labor Relations & Bargaining Support

• Provide financial modeling and costing support for collective bargaining preparation.
• Analyze the impact of monetary proposals (wages, incentives, benefits) to inform negotiation strategies.

HRIS Optimization (Dayforce)

• Collaborate with stakeholders to configure and optimize Dayforce Compensation modules.
• Maintain rigorous data integrity for compensation records while driving the automation of guidelines, calculations, and the annual letter generation process within Dayforce.

Qualifications & Skills

• Post-secondary degree or diploma in Human Resources, Finance, Mathematics, or a related field.
• Certified Compensation Professional (CCP) certification would be considered an asset.
• Three to four (3–4) years of experience in compensation design and administration, covering both unionized and non-unionized environments.
• Advanced proficiency in Microsoft Excel (v-lookups, nested formulas, pivot tables, and complex data modeling).
• Experience with Dayforce (Ceridian) configuration is a strong asset.
• Familiarity with job evaluation systems (e.g., Mercer IPE or custom point-factor plans).
• Solid understanding of the Ontario Pay Equity Act.
• Collaborate closely with HRBPs to resolve escalated compensation issues.
• High level of discretion when handling confidential data and the ability to explain complex financial concepts to non-technical stakeholders.

This is a 1 year contract, hybrid in Stoney Creek, ON.

This posting is for an existing vacancy.

Salary Range: $59,078 to $81,233 annually.

Compensation for this role reflects a combination of skills, experience, and internal equity. Those whose experience more closely aligns the role's requirements may be placed higher within the salary range. You will learn more about FirstOntario Credit Union's total rewards package during the interview process.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know.

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