Senior Compensation Analyst

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems while representing the Fourth District perspectives.

As part of the nation’s central bank, we are a team of mission-driven professionals who are committed to serving with excellence.

Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.

For twenty-six years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99.

This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

The Senior Compensation Analyst is responsible for supporting the design, implementation, and administration of the Bank's compensation programs that support the Federal Reserve Bank's mission and strategic objectives.

This position requires advanced analytical skills and compensation expertise to ensure the organization attracts, retains, and motivates top talent while maintaining internal equity and external competitiveness with relevant labor markets.

Essential Accountabilities


* Support the design, development, and administration of compensation programs, policies, and practices in alignment with Federal Reserve System guidelines and bank-specific strategies as well as federal regulations and employment laws


* Conduct sophisticated market analyses and benchmarking studies to ensure competitive positioning for various job families and levels


* Support the annual compensation planning process


* Develop and maintain compensation models, salary structures, and job evaluation systems


* Prepare comprehensive reports and presentations for leadership on compensation trends, competitiveness, and program effectiveness


* Participate in compensation surveys and analyze market data from multiple sources


* Serve as a compensation subject matter expert and advisor to HR Business Partners and business leaders.

Provide guidance on complex compensation decisions, including offers, promotions, adjustments, and organizational changes


* Support internal and external audits related to compensation practices.


* Maintain documentation of compensation decisions and program rationale.


* Continually seeks new and innovative methods and process improvement solutions.

Education and Experience


* Bachelor’s degree and 5+ years of related work experience within Compensation required


* Certified Compensation Professional (CCP) preferred

Knowledge Areas – Advanced Level


* Ability to perform independent research


* Knowledge of compensation principles, theories, practices, and methodologies


* Thoro...