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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 Business Administration, Economics, Mathematics, Statistics, or a related field
- A minimum of 10 years relevant professional experience, of which five (5) years should have been from an international development institution
- 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.
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