What are the responsibilities and job description for the Compensation Analyst position at Federal Reserve Bank of Boston?
Company
Federal Reserve Bank of Boston
Compensation Analyst
Job Summary:
We are seeking a detail-oriented Compensation Analyst to join our People and Culture team. This position is responsible for providing analytical support and to administer the Bank's Total Rewards Programs. You will conduct analysis of, and assists in the design, implementation and administration of Total Rewards Programs, position descriptions, position evaluations, salary surveys, salary planning, performance management, base pay, variable pay and executive compensation.
It is anticipated that you will work onsite for this role. If you currently reside within the First District it is expected to stay located within the district unless otherwise approved by your management and HR management.
Principal Accountabilities:
The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicant’s background, skills, internal equity, and alignment with market data. Whether you’re developing into the job or are a more seasoned candidate, we aim to pay competitively.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Human Resources Family Group
Work Shift
First (United States of America)
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
Privacy Notice
Federal Reserve Bank of Boston
Compensation Analyst
Job Summary:
We are seeking a detail-oriented Compensation Analyst to join our People and Culture team. This position is responsible for providing analytical support and to administer the Bank's Total Rewards Programs. You will conduct analysis of, and assists in the design, implementation and administration of Total Rewards Programs, position descriptions, position evaluations, salary surveys, salary planning, performance management, base pay, variable pay and executive compensation.
It is anticipated that you will work onsite for this role. If you currently reside within the First District it is expected to stay located within the district unless otherwise approved by your management and HR management.
Principal Accountabilities:
- Assists in the design, implementation and administration of existing and new total rewards programs (monetary & non-monetary) including base pay, variable pay and executive compensation.
- Assists in the development of position descriptions, conducts position analysis and evaluations.
- Participates in salary surveys, conducts analysis and makes recommendations relative to the market competitiveness of the Bank's total rewards programs.
- Administers salary planning (merit), performance management, base pay, variable pay and executive compensation programs.
- Interprets and make policy recommendations to ensure the Bank's compliance with local, state and federal regulatory authorities and the requirements of the Board of Governors.
- Researches, understands and consults with management and employees regarding the Bank's total rewards strategies, programs, policies, procedures and best practices in the market.
- Partners across the People & Culture department to provide guidance and support on compensation related matters.
- Perform other duties as assigned.
- This position is not required to directly supervise others.
- Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor's degree.
- A minimum of 3 years of experience in the design, implementation and administration of total rewards programs.
- An understanding of the design, implementation and administration of total rewards practices and programs.
- Proficient with Microsoft Office applications, particularly Excel.
- Experience with HRIS, preferably Workday.
- Experience using market data surveys or market data repositories.
- Ability to handle sensitive and confidential information with discretion.
- An understanding of Bank policies, practices, local, state and federal regulations and Board of Governors' requirements.
The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicant’s background, skills, internal equity, and alignment with market data. Whether you’re developing into the job or are a more seasoned candidate, we aim to pay competitively.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Human Resources Family Group
Work Shift
First (United States of America)
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
Privacy Notice
Salary : $83,000 - $124,600