Associate, Reward & Benefits

Purpose of Job

Reward (Retirement Plan benefit) team overview

The expert roles in the Reward team are responsible for providing high value specialist reward expertise to the Bank. This requires the continuous assessment of the market competitiveness of the Bank’s reward package whilst aligning it with the strategy of the Bank in attracting, motivating and retaining talent. An essential part of the role is keeping up to date with best practices and as members of their respective teams the roles are responsible for providing expert advice and guidance to the Board and Senior Management with regard to the Bank’s reward package. 

As a centre of expertise, the Benefits team (Retirement Plan) is responsible for the effective development of the strategy for the suite of retirement benefits provided by the Bank. This includes the introduction of new benefits, the development of policies, the management of third-party suppliers and the delivery and communication of benefits to all staff.  

Associate, Reward Benefits role (retirement plan specialist)

The Associate, Reward Benefits is responsible for providing management support to the Principal, Reward Benefits and the Associate Director, Head of Compensation and Benefits in ensuring that the retirement plan benefits are appropriate, market competitive, professionally managed and delivered to staff effectively and to a high standard. The provision of professional expertise to the Bank is also a key component of this role so that decisions can be made by Senior Management and committees in an informed way.

The role includes the development, management and enhancement of the Bank’s current retirement plan policies and plans, and the introduction of new elements of the reward package where appropriate, implementing and communicating changes across the Bank effectively.

The role is also responsible for providing expert benefits consulting advice and guidance to HR Business Partners, thereby developing their knowledge, capability and understanding of Benefits policies and plans.

Accountabilities & Responsibilities

Policy development and implementation

• Responsibility for providing input to the development and communication of the Bank’s reward strategy, ensuring that it is clearly understood and that compensation policies and plans support this strategy.
• Work with the Principal, Reward Benefits and the Associate Director, Head of Compensation and Benefits to continually monitor and review the retirement plan benefits provided to staff, including benchmarking with comparator organisations.
• Support Principal, Reward Benefits and the Associate Director, Head of Compensation and Benefits in development of changes to bank wide policies or introduce new policies (more specifically in the retirement plan function) where appropriate, actively gaining buy-in from stakeholders during the development.
• Support Principal, Reward Benefits and the Associate Director, Head of Compensation and Benefits in development of bank wide communications for staff regarding changes to policies and processes as they are implemented.
• Provide support to the Principal, Reward Benefits and the Associate Director, Head of Compensation and Benefits in the development of the annual compensation proposals made to the Board, via the Executive Committee, and recommend changes appropriate to establish and maintain a competitive reward package aligned to the reward strategy.
• Take a lead in specific parts of the annual reward and benefits proposals in order to improve the benefits policies at the Bank. Managing the consultation of ideas and checking alignment with the reward strategy.
• Management and ownership of specific reward projects to develop specialist solutions in the area of reward and benefits.

Provision of expertise to the Bank

• Ensure up to date understanding of best practices and market trends related to benefits, with a focus on retirement plans, through external networking and attending seminars and conferences. Build and maintain a network of professional relationships designed to tap into and develop the best policies and plans for the Bank.
• Provide information to staff, to enable them to understand policies and processes, via a variety of communication channels.
• Understand and resolve complex issues relating to specific groups of staff or specific areas of the benefits and communicate these effectively to staff or management.
• Design and provide individual training, information and education sessions to staff and to other HR teams.
• Deputise for the Principal, HR Reward as required to ensure the consistent provision of retirement plan expertise and support to staff, the HR Business Partners and the business.
• Serve as a source of expert Reward advice and act as an internal consultant, for a specific area of the business, to HR Business Partners and their clients to enable them to make decisions, interpret policies, resolve complex issues as they arise, including providing advice and analysis in support of the banks D&I policy, and have a full understanding of the Bank’s policies, plans and processes.
• Analyse the Bank’s reward and benefits policies and practices in relation to its comparator groups, via participation in surveys, information sharing within networks and working with external consultancy firms and attending seminars and conferences.

Associate, Reward Benefits specific: ongoing management of retirement plan provisions

• Undertake tasks required for the retirement plans annual cycle such as benefit statements for staff, audit, report & accounts, actuarial valuation and US Waiver exercise.
• Support Principal, Reward Benefits in management the Bank’s internal retirement plan committees including the arranging of meetings and preparation of required documentation
• Manage contractual and day-to-day relationships with the external providers to ensure there is an efficient provision of benefits to staff, service levels are maintained, and invoicing is accurate 
• Assist with external provider contract extension and retender exercises
• Provide clear and accurate responses to queries from staff, former staff, HR teams, the wider business and external retirement plan providers
• Manage benefit settlement processes for deaths, divorces and transfers, including preparing documentation for the relevant retirement plan committee
• Manage staff engagement framework with outsourced suppliers, including the annual financial wellness sessions
• Conduct the internal controls framework testing (ICF) related to benefits
• Work with the Principal, Reward Benefits, participate as required in a variety of ad hoc tasks and projects
• Maintain and enhance retirement plan knowledge base articles and Staff Guide intranet pages. Draft new knowledge base articles where appropriate
• Work in partnership with Employee Relations and OGC (legal team) to ensure the Staff Handbook is maintained in terms of reward policies
• Ensure retirement plan records are maintained and appropriately stored

Knowledge, Skills, Experience & Qualifications

• Relevant degree, or equivalent experience. PMI (or equivalent) qualification preferred.
• Excellent interpersonal and relationship management skills, with a consulting mentality, and the ability to coordinate and integrate ideas and solutions across teams.
• Numerate and computer literate
• Excellent communication skills (verbal and written), fluent in English language, with the ability to convey complex information in a simple and engaging way.
• Effective analytical and problem solving skills
• Ability to manage conflicting priorities, within tight deadlines, prioritising work effectively.
• Ability to work autonomously and exercise sound judgement.

Reward Benefits specific

• Significant breadth of relevant experience in all aspects of retirement plan management and consultancy
• Excellent knowledge of retirement plan practices 
• Experience of developing, implementing and communicating policy changes
• Demonstrated experience of drafting retirement plan communication materials for staff and providing training sessions
• Trustee/retirement plan committee secretarial support experience would be an advantage
• Experience operating in HR systems transformation environment would be an added advantage

What is it like to work at the EBRD? / About EBRD 

Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people's lives and help shape the future of the regions we invest in.  

At EBRD, our Values – Inclusiveness, Innovation, Trust, and Responsibility – are at the heart of how we work. We bring these to life through our Workplace Behaviours: listening well and speaking up, collaborating smartly, acting decisively with full commitment, and simplifying to amplify our impact. These principles shape our culture and define our success. We seek individuals who not only share these values but are also committed to embedding them in their daily work, fostering a positive and high-performing environment. 

The EBRD environment provides you with: 

• Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in. 
• A working culture that embraces inclusion and celebrates diversity. Our workforce reflects a broad range of backgrounds, perspectives, and experiences, bringing fresh ideas, energy, and innovation and enhancing our ability to serve our clients, shareholders, and counterparties effectively.
• A hybrid workplace that offers flexibility to teams and individuals; that is based on trust, flexibility and connectedness. 
• An environment that places sustainability, equality and digital transformation at the heart of what we do. 
• A workplace that prioritises employee wellbeing and provides a comprehensive suite of competitive benefits. 

Diversity is one of the Bank’s core values which are at the heart of everything it does.  As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, gender identity, sexual orientation, age, socio-economic background or disability.   

Please note, that due to the high volume of applications received, we regret to inform you that we are unable to provide detailed feedback to candidates who have not been shortlisted (for further consideration).