IDB2014 - Lead Compensation and Benefits Specialist

Business Unit: Administration Complex
Division: Not Applicable
Department: Human Resources Management Department
Contract type: Conditional Regular (Indefinite) Employment
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 10-Apr-2019
Role Purpose:

The role oversees the design, development and implementation of the bank’s compensation and benefit programs, to attract, retain and engage employees while aligning with the IDB’s overall business goals. The jobholder ensures that the salary classifications and benefit structures are competitive, benchmarked and aligned with the job market (by leading the development of competitive compensation and benefit policies, programs and schemes in accordance with international standards, and by periodically conducting internal equity checks on the salary structure.)

KEY ACCOUNTABILITIES: • Designs, oversees and implements a competitive compensation and benefits programs (including pay, pension plan, housing assistance, education assistance, leave and incentive plans) to attract, motivate and retain the appropriate talent from the local and international job market.
• Monitors salary structures and benefit schemes, balances staffing needs with cost controls, and helps ensure that policies, procedures and programs are in alignment with the organization’s overall strategic objectives and HR vision.
• Responsible for conducting job analysis and job reviews for new and current jobs as well as reviewing the reward and grading structure to ensure alignment with IDB’s mission and business strategy and propose recommendations to the management about compensation, benefits, bonuses, and grading. 
• Drafts and implements compensation and benefit policies, procedures and processes in accordance with the legal and regulatory framework. 
• Analyzes the different components of the remuneration scheme (bonus schemes, commission schemes, staff pension plans, the rewards and recognition programs for outstanding employees, etc.) and prepares reports about the internal equity and external competitiveness.
• Conducts on-going researches into emerging pay trends, issues and best practices in the job market and manages timely and accurate reports pertaining to the Compensation & Benefits function.
• Provides technical guidance and advice to the less experienced team members.
JOB REQUIREMENTS:
Academic qualifications

• Master’s degree in Human Resources, Business Administration, Finance, Economics or any other related field
• Certifications from SHRM / CIPD preferred

Required languages

• English (Mandatory)

• Arabic (Preferred)

• French (Preferred)

Minimum number of years and nature of experience

• 10+ years of relevant experience in Compensation & Benefits / Rewards, HR Services / support

Job specific competencies

• MS Office
• Communication effectiveness (oral and written)
• People management
• Adaptability
• Analytical thinking
• Problem solving
• Attention to detail
• Teamwork
• Vendor management
• Employee relations
• Compensation and Benefits
• Business acumen

Travel requirements:

Travel as needed.

Location: Jeddah, Head Office

Our Mission

The Mission of IDB is to promote comprehensive human development... Know more >