What are the responsibilities and job description for the Compensation specialist position at Federal Reserve System?
Company
Federal Reserve Bank of Cleveland
We’ve been named One of Northeast Ohio’s Best Places to Work by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.
Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.
Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel Cleveland Fed
Under general supervision develops, implements, and administers compensation programs.
Under general supervision develops, implements, and administers compensation programs.
Essential Accountabilities
Provides counsel to functional management and Human Resources staff on compensation programs and policies in response to the most complex problems and situations.
Administers the Bank’s annual compensation, recognition, and performance programs by providing support to designated functions.
Conducts job analysis and participates in salary surveys. Works with survey management platform to run reports, analyze and interpret results.
Recommends actions to maintain competitive salaries.
Plans, designs, develops, and conducts analysis, to make recommendations that support effective compensation programs aligned to the Bank’s strategy and compensation philosophy.
Administers compensation in accordance with established policies.
Creates and maintains procedures / processes to comply with Federal Reserve system policies and the Cleveland district’s bank and HR policies.
Pursues initiatives and projects that improve Total Rewards operations and improved services to clients. Continually seeks new and innovative methods and process improvement solutions.
Coaches colleagues and clients at all levels of the Bank.
Develops effective communication strategies and deliver through email, intranet news, internal website content, and presentations to employees and / or leadership.
Conducts ongoing research into emerging trends, issues and best practices.
May participate in system-level projects, collaborating and improving processes across the districts.
Performs other duties as assigned or requested.
Education and Experience
Bachelor’s degree with a minimum of 7 years of related professional work experience OR
Master’s degree with a minimum of 5 years of related professional work experience
Knowledge Areas Expert Level
Ability to work independently and drive results.
Ability to perform independent research.
Knowledge of regulations, procedures and practices and Federal laws associated with compensation and benefits.
Microsoft Office (Excel, Outlook, PowerPoint, Word, Teams, SharePoint,etc.)
Project Management
Skill Areas Expert Level
Data Analytics
Problem solving
Communications : written and verbal
General Working Conditions and Physical Demands
Traditional office environment : Employees typically sit most of the day, work with a computer and may answer / respond to phone calls.
Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required.
Employees may be required to travel by car / air.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Job Category
Human Resources
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.
The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
Privacy Notice ()
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States one of the world's most influential, trusted and prestigious financial organizations.
The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us :
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.
Last updated : 2024-02-25
