Compensation Analyst

Website Federal Reserve Bank of Richmond

When you join the Federal Reserve—the nation’s central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The People, Culture, and Wellness team has an immediate opening for a Compensation Analyst, reporting to the Total Rewards Senior Manager.

Compensation Analysts deliver innovative data-driven solutions with a focus on our compensation program and total rewards. Analysts interpret and advise on human resources policy; research, develop, and analyze human resources programs; monitor outcomes and implement improvements and prepare reports and recommendations. Analysts also serve as a consultant to management on the implementation and execution of HR policy.

What You Will Do:

  • Complete complex compensation research, investigations, and ad hoc analytical reports
  • Lead and own the development and operation of high impact compensation programs and services.
  • Track and measure compensation program performance, streamlines processes, and resolves highly complex issues
  • Identifies and introduces enhancements, process improvements, and opportunities for automation
  • Participates in compensation surveys, conducts research and analysis on market competitiveness, pay equity, and compensation trends
  • Evaluates jobs and develops and maintains job descriptions and job architecture
  • Manages salary structure creation and maintenance
  • Consults with business leaders to identify and understand their organizational needs
  • Create and maintain compensation related spreadsheets and provides general data modeling for compensation programs.
  • May direct and provide leadership support to cross-functional project teams as necessary

Qualifications:

  • Acute analytical ability and attention to detail with a high level of data integrity and accuracy
  • Advanced computer skills including:
    • Excel (Pivot tables, VLOOKUP, conditional formatting, etc)
    • WorkDay or similar ERP
    • Microsoft Office
    • Various other software applications
  • Bachelor’s degree or equivalent experience; CCP preferred
  • Compensation/Human Resources experience desired
  • Outstanding oral and written communication skills, including the ability to interact with people at all levels of the organization

Other Requirements and Considerations:

  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
  • If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.
  • The Fifth District provides a hybrid work environment.  This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.
  • Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
  • Sponsorship is not available for this role. Selected candidate is subject to special background check procedures.
  • The hiring range of the POSITION is $68,600 – 85,800 or $83,400 – $110,000 annually depending on level.
  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

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.

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