HR Specialist/ Senior Specialist – Compensation and Benefits Policies Group
Headquarters, Washington D.C.
The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
About this position
We are looking for an outstanding forward-thinking, team player, and complex problem-solving HR Specialist/Senior Specialist. In this capacity, you will design and deliver compensation solutions that will enable the IDB Group to compete, retain, and engage talent. The role plays a critical role as liaison and compensation partner with the IDB Group’s private sector arm (IDB Invest), which requires understanding the businesses, its specific talent needs, governance, and competitive landscape to tailor our solutions and compensation programs, reinforcing the desired culture and engaging employees to perform and be their best.
You will work in the Compensation, Benefits, and HR Services Division (HRD/COB), part of the Human Resources Department (HRD). The HRD/COB team analyses, designs, and administers compensation, payroll, and benefits programs for international and national staff assigned to Headquarters and the Country Offices. The organization’s Human Resources Services Center, responsible for the administration of key benefits programs, also reports through this Division.
HRD is responsible for the administration and development of the human capital of the IDB Group. The department's main functions include managing the entire employee lifecycle, leading all aspects of the implementation of the People Strategy, and implementing programs and methodologies in direct support of the IDB’s mission. HRD is also dedicated to implementing its mission to deliver human-centered experiences and strategically partner with professionals who are passionate about improving lives in Latin America and the Caribbean.
What you’ll do:
Conduct market research and benchmarking studies and analyze the potential impact of alternatives to ensure the total remuneration program remains competitive in the industry and in the countries where IDB Invest operates. Participate in the development of a comprehensive total rewards strategy aligned with the organization's goals and values. Lead the design and implementation of competitive and equitable compensation structures (merit pay, salary ranges/structures, incentive/bonus compensation plans, and recognition programs). Conduct job evaluations using market data and internal evaluation, develop compensation proposals for employment offers, consult with Talent Acquisition, HRBPs, and business leaders, and assist in creating, applying, and maintaining salary structures and hiring ranges. Develop presentations and white papers to support the approval process of the IDB Invest rewards program, including the Annual Recommendation or Budget request process to the IDB Invest Board of Executive Directors. Partner with the business to develop variable incentive compensation programs as needed. Partner closely with stakeholders such as HRBPs, Talent Acquisition, and Business Leaders, providing guidance on programs and advice on how best to win in a market to attract, retain, and engage talent. Partner with product leads in the team, HR Operations / Payroll, to ensure the delivery of reward elements (merit pay, variable pay, and recognition), comply with and conform to collective agreements, guidelines, internal policies/ procedures, and internal controls and audit procedures. Develop communications strategies in partnership with internal stakeholders to effectively communicate changes and updates to total rewards programs. Meet with employees to explain compensation strategy and practices. Prepare communications to key stakeholders, as necessary, and partner with HRBPs in change management activities. Coach analysts and more junior team members on relevant processes and best practices.What you'll need
Education: Master's degree or equivalent in Human Resources Management, Organizational Development, Business Administration, Psychology, or other related fields relevant to the responsibilities of the role. Experience You have at least 7-8 years of proven experience in positions related to compensation and benefits. Demonstrate experience in designing compensation and rewards programs to recognize performance. Extensive compensation experience with multi-country scope is required. Experience in management consulting and the Financial Services Industry is a plus. Languages: Proficiency in English and one of the other Bank official languages (Spanish, French or Portuguese) is required.Key skills
Mentor and develop Promote Diversity, Equity, Inclusion and Belonging Focus on clients Communicate and influence Innovate and try new thingsRequirements
Citizenship: You are a citizen of one of our 48-member countries. We may offer assistance with relocation and visa applications for you and your eligible dependents. Consanguinity: You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.Type of contract and duration
International staff contract, 36 months initially, renewable upon mutual agreement.What we offer
The IDB group provides benefits that respond to the different needs and moments of an employee’s life. These benefits include:
A competitive compensation package, including an annual base salary expressed on a net- of-tax basis Leaves and vacations: 24 days of paid time off + 8 personal days + sick leave + gender- neutral parental leave Health Insurance: IDB Group provides employees and eligible dependents with a robust medical benefits program which covers medical, dental, vision, preventive care, and prescription drugs. Pension plan: defined benefit pension plan that provides financial security and support employees in planning for their future. We offer assistance with relocation and visa applications for you and your family, when it applies Hybrid and flexible work schedules Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for employees. Development support: We offer tools to boost your professional profile such as mentoring, 1:1 professional counseling, training and learning opportunities, language classes, mobility options, among others. Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, Spouse Career Program, and others.Our culture
At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.
Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at diversity@iadb.org to request reasonable accommodation to complete this application.
Our Human Resources Team reviews carefully every application.
About the IDB Group
The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.
About IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
Follow us:
https://www.linkedin.com/company/inter-american-development-bank/
https://www.facebook.com/IADB.org
https://twitter.com/the_IDB
Additional Information
External Opening Date: Jan 26, 2024 External Closing Date: Feb 4, 2024 External Contact Email: hrsc@iadb.org Job Field: Human Resources