IDB2384 - Lead Compensation and Benefits Specialist

Business Unit: Administration Complex
Division: HR Service Center
Department: Human Resources Management Department
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 04-Jan-2020

Role Purpose:

To establish, manage and control the compensation and benefits programs of IsDB in alignment with the overall rewards strategy and philosophy hence enabling the organization to be competitive in its value proposition to potential and existing employees.

 

Key Performance Indicators:

  • Timely delivery of the IsDB compensation and benefits benchmark report
  • % of staff that feels IsDB compensation is fair (based on survey)
  • Correlation between organization performance against P5P and performance related compensation
  • % growth of overall staff cost
  • Upward feedback score of position holder (or 360 degree feedback)

Roles and Responsibilities:

General Responsibilities
 
  • Formulates and implements the Reward strategy and associated programs (including pay, pension plan, housing assistance, education assistance, leave and incentive plans) in line with IDB’s and the HR’s short, medium, and long term objectives to attract,  motivate and retain the appropriate talent
  • Conducts job analysis / reviews (in collaboration with the CoC Strategy & Planning and Sourcing & Recruiting) for new / existing jobs at IDB to ensure alignment with IDB’s mission and business strategy. This includes
  • reviewing reward and grading structure
  • propose recommendations pertaining to Compensation, Benefits, Bonuses, and Grading
  • Develops, establishes and drives policies and processes within compensation & benefits to ensure stable deployment in accordance with legal and regulatory framework
  • Designs and benchmarks the staff pension plan and ensures its effectiveness and efficiency
  • Designs employee rewards and recognition programs to identify and reward staff for outstanding achievements and adherence to IDB values/cultural traits
  • Manages timely and accurate reports pertaining to the Compensation & Benefits function and ensures that same meet the HR requirements, policies, and standards
  • Helps developing the HR budget
  • Coordinates and plans day-to-day work within team including progress report and feedback 


 

Travel requirements:

Academic Qualification

  • Bachelor's degree or equivalent in any relevant discipline for bank (business, etc.)
  • Master's degree or equivalent in or equivalent in any relevant discipline for bank (business, etc.) - Preferred 

Required languages

  •  English (Mandatory)
  •  Arabic (Preferred)
  •  French (Preferred)

Minimum number of years and nature of experience

  • 5+ years of human resources experience in a related sector
  • 1+ years of managerial/ supervisory experience

Location:

Jeddah, Head Office
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