Federal Reserve Bank Jobs – Compensation Specialist

Job Description:

The Compensation Specialist applies an understanding of basic compensation principles in performing a broad range of compensation activities. This includes advising client divisions on compensation policies and procedures; assisting with the annual salary survey process; evaluating jobs and revising position descriptions.

Job Responsibilities:

• Conducts desk audits and job evaluations in assigned divisions. Makes recommendations for career ladder progressions and salary adjustments based upon the outcome of the job evaluation.
• Participates in the Board’s annual salary survey process. Contacts participating organizations to ensure appropriate job matching, analyze survey data.
• Maintains close contact with client divisions to advise administrative office, managers, and employees on compensation policies and procedures
• Reviews all personnel actions and requisitions for assigned divisions to ensure consistency with policies. Resolves problems with client divisions.
• Maintains compensation data bases (job evaluation plan, career ladder) and prepares reports and analyses.
• Assists with training for new employees and managers on compensation policy and procedures.
• Determines salary to be offered to external and internal applicants for Board positions based on an assessment of the candidate’s education and work experience.
• Works on special projects or assignments, which may have significant impact on the Board’s compensation program, making written recommendations often requiring extensive research and analysis.
• This may include analyzing market data and preparing briefing documents for HR management.

Job Requirements:

• Knowledge, skill, and ability to understand Compensation methodologies and processes.
• Demonstrated experience in using Microsoft Office, Suite Oracle Fusion, PeopleSoft, and Workday. Excellent analytical and problem-solving skills with strong attention to detail.
• Demonstrated ability to leverage technology for HR practices. Strong interpersonal, presentation, communication (verbal as well as written), and customer service skills with a focus on working effectively in a team environment. Knowledge, skill, and ability to provide expert recommendations to clients and stakeholders.
• Ability to maintain confidentiality and appropriately handle sensitive information.

Job Details:

Company: Federal Reserve Board

Vacancy Type: Full Time

Job Functions: Banking

Job Location: Washington, DC, US

Job Category: Government

Application Deadline: N/A

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