Director, Compensation & Benefits Position Summary: Senior management role responsible for planning and directing the Bank's compensation & benefits functions Key Responsibilities: • Assists executive management in defining, the implementation of and maintenance of the compensation and benefits strategy for the Bank. • Creates and presents compensation, benefits, incentive plan, and other materials at the meeting of the Human Resources and Compensation Committee. • Serves as the primary advisor to the Bank’s President on all executive compensation matters. • Provides advice and counsel to the Board of Directors on Board compensation matters. Attends Board meetings to present compensation material as needed. • Provides compensation and benefits information to the Legal and Financial Information Departments for the Bank’s annual Securities and Exchange Commission “10-K” filing and Office of Finance reporting. • Works closely with the Federal Housing Finance Agency Executive Compensation staff on Named Executive Officer compensation and benefits and Board compensation matters. Creates reports as required. • Manages the compensation and salary administration programs; including executive and short and long-term incentive compensation plans. • Administers the employee pension and savings/401K plans. Manages the relationship with the third party administrator of these plans. • Manages the negotiation and administration of all Bank benefit plans. Provides annual budget information for all programs. • Manages the payroll function for the Bank. • Works closely with the Legal Department on incentive and benefit Plan document design and the Financial Information Group on performance metrics and outcomes and the Accounting Department on incentive plan accruals. • Responsible for the evaluation of existing and proposed jobs and classify them according to their levels of responsibility and importance to the Bank. • Ensures compliance with Federal, state and local personnel laws, EEO guidelines, and Bank human resources policies. • Perform annual review of the Bank's EEO/AA plan and recommends changes or improvements. • Manages the day to day activities of employees in payroll, benefits, and compensation. • Ensures the ongoing preparation of accurate human resources metrics and analytics. • Participates in the FHLB System Human Resources Officers Committee. • Partners with the Chief Human Resources Officer to help enforce and administer all human resources related policies and procedures in the Bank. • Other duties as assigned. Requirements: • 10+ years of experience in compensation and benefits in roles of progressive responsibility • 5 years minimum experience in managing Executive compensation programs • Minimum 3 years prior experience in negotiating benefits plans and programs, benefits plan design and benefits administration • Prior experience in engaging with and delivering information to an organization’s Board of Directors • Prior management experience • Bachelor's degree in Human Resources or related field from accredited college or university • Advanced degree strongly desired • CBP/CCP/SPHR designation a plus • Intermediate/Advanced MS Office Suite skills (Excel, Access, PowerPoint, and Word). Knowledge/Skills/Abilities Required: • Excellent interpersonal communication skills (written, oral, and listening) are required • Customer service attitude • Strategic thinking • Displays a high degree of professionalism • Planning, delegating, problem-solving and decision-making skills • Ability to see both an employee's and manager's side of an issue; ability to confront people when their attitudes or behavior puts the Bank at risk legally or ethically • Strong presentations skills • High degree of diplomacy
The Federal Home Loan Bank of Chicago is committed to diversity at all levels of our organization. Our goal is to recruit, hire, and develop talented staff and to offer a work environment that allows them to do their best work.