Head, Total Rewards

Job Profile:

The Head of Total Rewards is responsible for the design and implementation of a comprehensive, organization-wide compensation strategy that aligns with the OPEC Fund’s objectives of ensuring a fair and competitive employee rewards program. This role ensures that compensation and benefits policies are in line with the organization's HR strategy and enhanced on a continuous basis. The position oversees payroll, compensation and benefits, employee administration, and employee offboarding. The incumbent leads a team at the headquarters in Vienna.  

Duties and Responsibilities:

Strategic Responsibilities

• Drives continuous improvement in the Total Rewards strategy to position the OPEC Fund as an employer of choice. 
• Collaborates with the HR Director to develop and implement a modern Total Rewards strategy aligned with organizational goals. 
• Standardizes and streamline processes to enhance efficiency and effectiveness. 
• Provides expert advice on total rewards and well-being policies. 
• Leads key initiatives and projects to enhance remuneration and reward systems

Benefits Management 

• Designs, reviews, and implements benefit programs and communications
• Analyzes market trends to optimize benefits offerings
• Ensures policies align with organizational needs and recommends changes
• Conducts impact assessments for policy revisions
• Monitors benefit utilization, financial impact, and sustainability
• Serves as the escalation point for benefits inquiries and provides policy recommendations. 

Compensation & Reward Management 

• Market Analysis: Conducts salary benchmarking and provides data-driven insights
• Program Development: Implements competitive and performance-driven compensation structures
• Policy Compliance: Ensures adherence to labor laws and internal policies
• Salary Administration: Oversees payroll coordination and policy adherence
• Stakeholder Guidance: Trains HR staff and advises leadership on compensation matters
• Benefits & Allowances: Conducts periodic reviews and recommend enhancements
• Budget Planning: Supports salary, allowance, and benefits forecasting. 
• Health & Wellness: Manages and/or supports medical insurance, wellness programs, and employee support initiatives

Audit & Compliance 

• Ensure compliance with reward policies and regulatory standards
• Leads salary benchmarking, incentive plan management, and internal equity analysis
• Addresses audit findings with sustainable solutions

Policy & Procedure Development 

• Maintains and updates policies, standard procedures, and benefits documentation
• Oversees medical insurance plan reviews and renewals
• Benchmarks remuneration policies and implements new benefit programs as needed
• Ensures accurate record-keeping and serve as the escalation point for complex benefits issues

Stakeholder Engagement & Leadership 

• Represents HR in management meetings and external forums
• Oversees budget planning for total rewards
• Provides expert guidance on budget analysis and utilization
• Fosters strong partnerships with employees and managers

Team Management & Leadership 

• Leads, coaches, and mentors the Total Rewards & Well-being team
• Sets clear expectations, provides feedback, and drives high performance
• Addresses performance gaps and supports professional development

Performs any other related tasks as assigned by the HR Director to contribute to the success of the HR function. 

Qualifications and Experience:

• Master’s degree in Human Resources, Business Administration, Economics, Mathematics, Statistics, or closely related field with at least 10 years of relevant professional experience, of which five (5) years should have been from international financial or development institution.
• Bachelor’s degree in the in Human Resources, Business Administration, Economics, Mathematics, Statistics, or closely related field with at least 15 years of progressively responsible relevant experience, of which five (5) years should have been from international financial or development institution.
• At least five (5) years of managerial work experience is required
• In-depth and thorough knowledge of compensation & benefits concepts, principles of salary administration, benefits, including market best practice is required
• Experience in HR policy and HR operations is highly desirable
• Ability to work independently, apply analytical and quantitative skills to identify issues or problems
• Ability to identify and offer suggestions for improvements, and collaborate to ensure integration with other policies, systems, and practices
• In-depth knowledge of relevant technologies, business processes, or platforms is essential
• Demonstrated knowledge of HR-related areas beyond compensation and benefits to facilitate connections with the broader department and institution
• Ability to organize, prioritize, and deliver timely under high pressure
• Extensive knowledge and expertise in Total Rewards, enabling skilled operation of the OPEC Fund's HR practices, procedures, and programs is essential
• Ability to identify and diagnose needs. Ability to facilitate and implement interventions in order to address needs and drive change 
• Ability to collaborate effectively with highly diverse colleagues
• Ability to communicate clearly with diverse audiences, including non-technical audiences
• Fluent in English. Good working knowledge of Arabic, French or Spanish is an added advantage