Compensation and Benefits Specialist

Date: Nov 5, 2021

Location: AT

Company: The OPEC Fund for International Development

Job Profile:


The Compensation and Benefits (C&B) Specialist assists in the design and implementation of the OPEC Fund’s remuneration strategy by conducting benchmarking exercises to develop the total rewards landscape, contributing to the roll out, administration and enhancement of compensation and benefits processes, tools and schemes, including salary review, salary structure, pensions and medical insurance. He/she will support the HR team in ensuring the remuneration strategy and practices are as externally competitive and internally equitable to entrench a performance-based culture that enables employee engagement and business productivity.

 

Duties and Responsibilities
 

Rewards Management 

  • Coordinates job analysis and evaluation activities. 
  • Prepares job descriptions and develops and maintains a job descriptions manual and depository.
  • Coordinates processes like salary reviews, new benefits introduction, annual incentives/increments management, etc.
  • Assists in designing, developing and communicating compensation and benefits strategies and policies.

 

Research and analysis

  • Assesses employees’ needs by means of different evaluation methods and techniques.
  • Conducts research into emerging trends, issues and best practices in the realm of total rewards.

 

Rewards Administration

  • Contributes to the management of the defined benefit pension scheme. 
  • Facilitates the administration of medical and pension benefits and related budgetary requirements. 
  • Maintains staff records for the Medical Insurance Scheme to ensure timely and sufficient monthly medical premium payment.
  • Coordinates the Medical Insurance Scheme re-tendering process.
  • Reviews and processes all applications to the Austrian authorities for medical VAT reimbursement. 
  • Supports the Payroll Specialist to ensure that all salary and other benefits related information and data are captured and processed accurately.

 

Information Security

  • Maintains full confidentiality with all stakeholders.

 

Administrative Support

  • Provides needed clarifications to relevant parties with regards to compensation and benefits policies, procedures and guidelines.
  • Carries out other duties as assigned by the HR Director and Head of HR Operations.

 

 

Qualifications and Experience
 

  • Bachelor’s degree in Human Resources, Business Administration, finance or a combination of any degree plus a relevant certification (CIPD, GRP, etc.). 
  • A minimum of 5 years of relevant professional experience in Compensation and benefits/ Rewards management. 
  • Experience in an international development / finance institution is preferred. 
  • Fluent in English. A good working knowledge of Arabic, German, Spanish, or French is an added advantage.


Competencies
 

  • Possesses strong quantitative, analytical thinking, and project management skills.
  • Demonstrable understanding of job analysis, documentation, evaluation and grading.
  • Good knowledge of pension and medical insurance schemes and administration.
  • Strong numeracy skills, with ability to adequately utilize Excel for analysis.
  • Good knowledge of SAP-HR.
  • Ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.