Be a part of a dynamic and impactful team! Reporting to the Senior Manager of Total Rewards, the Total Rewards Senior Analyst has primary responsibility to develop, implement and administer Total Rewards programs for the Federal Reserve Bank of Cleveland. Total Rewards elements include Compensation, Health/Insurance Benefits, Work-Life Balance and Thrift/Retirement Benefits, all of which enable us to motivate and retain talent for the Bank.
Administers the Bank’s annual compensation, recognition, and performance programs by providing support to designated functions. Conducts job analysis which includes creating or revising job descriptions and assessing the job’s value in the marketplace.
Participates in salary surveys and analyzes results in order to create the Bank’s salary structure annually.
Plans, designs, develops, and conducts analysis, interprets results and makes recommendations that support effective compensation and benefit programs aligned to the Bank’s strategy. Administers compensation and benefits in accordance with established policies.
Provides counsel to functional management and Human Resources staff on compensation and benefit programs and policies in response to more complex problems and situations.
Supports the administration, education, and communication of all Bank benefits and policies. Work includes, but is not limited to: medical, dental, vision, thrift/retirement, prescription drug plans, short-term disability leaves, workers, compensation leaves, family and medical leaves under FMLA, and wellness programs.
Reviews, analyzes and recommends compensation and benefit policy changes to Bank management that will be beneficial for employee welfare while controlling Bank liability and financial exposure.
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.
Performs other duties as assigned or requested.
Adheres to the Bank’s attendance policies through regular and prompt attendance.
Certified Compensation Professional (CCP) preferred
5+ years of related work experience within the Total Rewards and/or Compensation discipline
Knowledge Areas – Advanced Level
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, etc.)
Skill Areas – Advanced Level
Analytical capabilities to conduct job analysis and compensation and benefit program analysis
Communications: Written; Verbal and speaking to groups