Compensation Specialist - MGT at Federal Reserve Board of Governors

Posted in General Business 13 days ago.

Type: Full-Time
Location: Washington, Washington DC





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.Requires good analytical ability and oral and written communications skills typically acquired by the completion of a
bachelor's degree or equivalent work experience. Requires 3 years or responsible work experience in compensation
(in the public and/or private sector) and a general understanding of other human resources disciplines. At the FR-24, the
position requires 4 years or responsible work experience in compensation (in the public and private sectors) and a broad
understanding of the interrelationships between compensation and other human resources disciplines.

Principal Duties and Responsibilities

FR-23

1. Reviews all personnel actions and requisitions for assigned divisions to ensure consistency with policies. Resolves

problems with client divisions.

2. Participates in the Board's annual salary survey process. Contacts participating organizations to ensure appropriate job

matching, analyze survey data.

3. 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.

4. 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.

5. Maintains close contact with client divisions to advise administrative office, managers, and employees on compensation

policies and procedures.

6. Assists with training for new employees and managers on compensation policy and procedures.

7. 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.

8. Maintains compensation data bases (job evaluation plan, career ladder) and prepares reports and analyses.

FR-24

1. Reviews all personnel actions and requisitions for assigned divisions to ensure consistency with policies. Independently

resolves problems with client divisions.

2. Participates in the Board's annual salary survey process. Contacts participating organizations to ensure appropriate job

matching, analyze survey data. Makes recommendations to management on survey results.

3. 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.

4. 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.

5. Leads special projects or assignments that may have significant impact on the Board's compensation program. Makes

written recommendations often requiring extensive research and analysis.

6. Assists management in assigned divisions on resolution of unusual or problem situations. Works closely with divisions

undergoing reorganization to advise on human resource policy and position management principles.

7. 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.

8. Conducts training on compensation policy and procedures for new employees and managers.

9. Maintains compensation data bases (job evaluation plan, career ladder) and prepares reports and analyses.

Highly desired skills and experience include:

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.





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