Senior Compensation Consultant Job Listing at Colorado Permanente Medical Group in Denver, CO (Job ID 9504b165-4178-46be-9dc4-18bea23f754a)

Description

Colorado Permanente Medical Group (CPMG) has an exclusive, integrated partnership with the Kaiser Foundation Health Plan of Colorado. While we are separate organizations complementing one another, our missions are the same--to provide high-quality, affordable healthcare services and improve the health of our members and the communities we serve. 

By offering care and coverage together, we help Coloradans thrive. We serve communities throughout Denver/Boulder, Northern and Southern Colorado. 

Must live in the State of Colorado or be willing to relocate.

Equity, Inclusion and Diversity

Colorado Permanente Medical Group (CPMG) is committed to Equity, Inclusion, and Diversity. CPMG focuses on supporting all our physicians in an inclusive environment, identifying community healthcare disparities, and providing education and tools to provide culturally responsive care to mitigate these disparities. If you have an interest in Equity, Inclusion, and Diversity, we encourage you to apply and become a part of our mission to improve the health of our members and the communities that we serve.

All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, protected veteran status, marital status, physical or mental disability, age or any other protected status under federal, state or local law.

The Senior Compensation Consultant plays a crucial role in developing and implementing effective compensation strategies and programs to attract, retain and motivate our employees. This role collaborates with the Finance and Benefits and Compensation leaders to create, analyze, and evaluate existing compensation structures, policies, and practices in the administration of all physician and professional staff compensation programs including annual base compensation, incentive plans, and other related programs. The senior consultant will be required to manage the day-to-day analysis, design, and administration of all compensation related programs including tracking, reporting and end-user support. This position requires a strong working relationship with Benefits, Finance, Human Resources, Payroll, operational leadership, employees and benefits and compensation vendors.

Benefits:

Benefits

CPMG offers a Market-leading benefit package, which includes: 

• Medical and dental coverage 
• Life insurance
• Short-term and long-term disability coverage
• 401(k) and Defined Benefit Retirement Plan (Cash Balance) 

• Vacation, holidays, sick and educational funds

• Salary Range:  Minimum: $114,200; Midpoint:  $131,300; Maximum:  $148,400.  *Salary will be based on education, years of experience, and FTE (full-time/part-time position).

Major Responsibilities/Essential Functions

• Collaborates with leadership teams to analyze and evaluate existing compensation structures, policies, and practices for physician and administrative staff compensation programs.
• Develop innovative compensation programs that align with business objectives and attract and retain top talent. Ensure compliance with applicable laws and regulations.
• Conduct comprehensive market research and benchmarking analysis to gather data on compensation trends, practices, and salary ranges. Analyze and interpret market data to make informed recommendations for salary structures, incentives, and benefits packages.
• Coordinate and manage the submission of survey data related to physician compensation and productivity to external benchmarking organizations. Ensure accurate and timely completion of survey questionnaires, data validation, and submission requirements. Stay updated with survey methodologies and participate in survey participation best practices.
• Utilize job evaluation methodologies to assess the relative value and complexity of various positions within the organization. Develop and maintain job grading systems to ensure internal equity and consistency in compensation decisions.
• Develop and administer salary structures, including salary ranges, job architecture, job families, guidelines, and policies. Provide guidance and recommendations on salary adjustments, promotions, and incentive programs. Assist in conducting salary surveys and analyzing compensation trends to ensure competitiveness.
• Analyze compensation trends, market data, and internal factors to design competitive and compliant compensation packages. Recommend innovative incentive structures and performance-based compensation models.
• Collaborate with finance and HR teams to develop compensation budgets and forecasts. Provide input and analysis on the financial impact of proposed compensation initiatives. Monitor and track compensation expenses to ensure alignment with budgetary guidelines.
• Collaborate with HR and management teams to integrate compensation programs with performance management systems. Provide guidance on linking individual and team performance metrics to compensation rewards and recognition.
• Supports Compensation Committee Chair and leadership in preparing Compensation Committee materials, models, and other supporting documents. Serves as scribe for Compensation Committee and captures meeting minutes and action items.
• Conduct financial analysis to evaluate the impact of physician compensation arrangements on the organization's financial performance. Assess the return on investment (ROI) of different compensation components and incentive structures. Provide insights and recommendations to optimize compensation budgets and resource allocation.
• Develop and deliver training programs and materials to educate employees and managers on compensation principles, policies, and programs.
• Communicate and explain compensation plans, changes, and updates to ensure transparency and understanding across the organization.

Stay up to date with relevant employment laws, regulations, and industry best practices related to compensation. Ensure compliance with legal requirements and assist in conducting internal audits to identify and address any potential risks or issues.

Job Qualifications

Candidates must meet Required qualifications. If Required qualifications are not met, the candidate will be disqualified from applying from the position. If Preferred qualifications are not met the candidate may still qualify for the position.

Required Minimum Education - minimum education or degree required

Bachelor's degree in business, human resources, or related field; OR equivalent work experience.

Preferred Education - education or degree preferred

Bachelor's degree.

Required Minimum Work Experience and Qualifications - years of job experience, skills or abilities required

·       7-10 years of related experience in compensation.

·       Demonstrated knowledge of compensation philosophies, employee benefit programs, including flexible benefits programs and total rewards.

·       Ability to perform mathematical calculations to establish base and incentive compensation models.

·       Excellent interpersonal, written, and verbal communications skills.

·       Organizational skills to develop/maintain reporting standards.

·       Must remain open to change and be adaptable to new information.

·       Must encourage and foster cooperation and teamwork.

·       Strong attention to detail.

·       Expert level of MS Excel, and ability to use MS Office suite of products.

Preferred Work Experience and Qualifications - years of job experience, skills or abilities preferred

·       Experience in physician compensation analysis and strategy development within the healthcare industry.

·       Familiarity with survey data submissions to external benchmarking organizations (e.g., MGMA, SullivanCotter, AMGA).

·       In-depth knowledge of physician compensation models, including productivity-based, value-based, and quality-based incentives.

·       Understanding of healthcare industry regulations and compliance requirements related to physician compensation.

·       Experience reviewing and analyzing physician contracts and offer letters, including compensation terms and compliance implications.

·       Strong financial analysis skills with the ability to assess the financial impact of compensation arrangements.

·       Experience with ADP Workforce Now, Oracle, or UKG

Preferred Licensure, Certification, Registration or Designation - Licensure or certifications preferred

CCP, CEBS, PHR, SPHR