Head of Benefits & Compensation

Federal Reserve Bank - New York, NY

Full-time - Senior

New York, NY

1,001-5,000 employees

Monetary Authorities-Central Bank

About the position

The Head of Benefits & Compensation at the Federal Reserve Bank of New York is a leadership role responsible for overseeing the Bank's total rewards strategy. This position involves leading a team to ensure the effective execution of benefits, recognition, and compensation programs, while collaborating with various business areas to create innovative solutions that attract and retain top talent. The role emphasizes the integration of health and wellness initiatives and aims to enhance the overall employee experience for approximately 3,100 employees.

Responsibilities

• Helps recommend, implement and oversee the Bank's total rewards strategy.
• Leads a team that delivers benefits, recognition and compensation programs.
• Works collaboratively with business areas and People and Engagement to create and deliver well-considered benefits and rewards solutions.
• Optimizes benefits and rewards programs to help attract and retain employees, monitors for cost control and ensures market alignment.
• Monitors trends, maintains knowledge of industry best practices and evaluates the success of the benefits and rewards programs.
• Provides benefits, recognition and compensation subject matter expertise to enhance and elevate the rewards portfolio through identifying trends and opportunities and sharing best practices.

Requirements

• Experience leading people by setting direction, motivating, and developing teams to achieve their full potential.
• Strong compensation acumen.