Compensation Specialist

Teachers Credit Union South Bend, IN

About the Job

Essential Function

Responsible for processing the Credit Union’s payroll; including the verification and balancing of all payroll related taxes. Plays a primary role in assisting the Director of Compensation and Benefits in the administration of the Credit Union’s Compensation Methodology. Lead person to interpret and resolve questions regarding payroll and time and attendance.


Primary Responsibilities & Duties

  1. Responsible for the overall function of the payroll system, including all actions related to processing a payroll.

  2. Responsible for implementing system upgrades for both the payroll and time and attendance products; including any necessary employee communication.

  3. Responsible for maintaining all appropriate documentation related to the payroll function.

  4. Ensures all year-end reporting is timely and accurate, including employee W-2’s.

  5. Responsible for creating all necessary reports from both the payroll and time and attendance systems; along with assisting management and staff with any reporting needs.

  6. Assures thorough audits, reports and personal contacts that the company’s payroll system is consistently administered and in compliance with company policies and government regulations.

  7. Participates in both exempt and nonexempt salary surveys to ensure corporate compensation objectives are achieved. Makes recommendations to management for improvement of organization’s employment policies, procedures, and practices.

  8. Responsible for assisting with the evaluation of present and new programs through research, surveys, and analysis of trends and regulations to ensure compensation methodology is current, competitive, legal, and strategically consistent.

  9. Assumes additional responsibilities as necessary for the growth and support of the Human Resource Department


Specific Skills

  • Ability to read, interpret, and execute government regulations.

  • Computer skills to enter and report information via database software.

  • Computer skills to maneuver through various payroll and time and attendance software.

  • Sound knowledge of Microsoft Office.

  • Ability and willingness to present a positive and professional image before TCU employees, members and business professionals.



  • Responsible for keeping all payroll systems in compliance with government regulations by working with appropriate vendors.

  • Accountable for the timeliness and accuracy of all data, reports and files processed.

  • Accountable for providing quality service to TCU staff and management.

  • Accountable for understanding and applying government laws and regulations and TCU policies and procedures relating to the Anti-Money Laundering Regulations including but not limited to the Bank Secrecy Act (BSA), US PATRIOT ACT and OFAC.


Minimum Requirement

  • Knowledge of Wage & Hour and FLSA regulations

  • 3-5 years of payroll processing experience

  • 1 -3 years of compensation experience