Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.  

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. 

What we do:    

People & Engagement partners with senior leadership and business groups to advance and support the Bank’s culture of excellence by inspiring and motivating colleagues with diverse backgrounds and perspectives. The Group achieves this through progressive people strategies and modern employee experiences that attract and retain top talent and helps everyone pursue continuous growth and meaningful work at the Bank.

Your role as Head of Benefits & Compensation:

In this role you will report to the Head of People Rewards, leading a small but mighty team to ensure excellent execution of our Rewards strategy. You will bring experience as a people leader, total rewards expert, and consultative partner. You will identify opportunities to streamline, simplify and innovate our operations. This leadership position will work closely with our Health & Wellness team to ensure the seamless integration of our modern employee well- being portfolio. As an important member of our People & Engagement leadership team, you will deliver cutting-edge programming to reward and engage our 3,100 employees. As a result of your work, our leaders and employees will have a stronger and more integrated vision of our robust Rewards offering and its inherent value.

Key responsibilities include:

• 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.

What we are looking for:  

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

• Compensation acumen and ability to effectively articulate Rewards strategies holistically and proactively to stakeholders and employees

• A growth mindset, showcasing adaptability, creativity, and the capacity to pivot strategies in response to dynamic environmental conditions.

Salary Range: $225700 - $285000 / year  

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions . 

Our Touchstone Behaviors —Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more. (https://www.newyorkfed.org/careers/touchstone-behaviors)  

Benefits:  

Our organization offers benefits that are the best fit for you at every stage of your career: 

• Fully paid Pension plan and 401k with Generous Match 

• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA) 

• Subsidized Public Transportation Program 

• Tuition Assistance Program  

• Onsite Fitness & Wellness Center 

• And more (https://www.newyorkfed.org/careers/benefits_health.html)  

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules. (https://www.newyorkfed.org/aboutthefed/ethics-conflicts-of-interest)  

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.  

We value accessibility for all candidates and are happy to provide an accommodation or assistance . Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist _applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box. _  

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.  

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Human Resources

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers ( https://rb.wd5.myworkdayjobs.com/FRS ) or through verified Federal Reserve Bank social media channels.

Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)

OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

Why Our People Choose Us:

Our reputation precedes us

There will always be room for personal growth

Our people are first

You’ll find the right balance

Your responsibilities will be meaningful

We hope that you will be our future colleague.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.