Company: Saudi Aramco Skills: HR - General Experience: 12 + Years Education: Bachelors/3-5 yr Degree Location: Saudi Arabia
Aramco energizes the world economy.
Aramco occupies a unique position in the global energy industry. We are the world's largest producer of hydrocarbons (oil and gas), with the lowest upstream carbon intensity of any major producer.
With our significant investment in technology and infrastructure, we strive to maximize the value of the energy we produce for the world along with a commitment to enhance Aramco's value to society.
Headquartered in the Kingdom of Saudi Arabia, and with offices around the world, we combine market discipline with a generations' spanning view of the future, born of our nine decades experience as responsible stewards of the Kingdom's vast hydrocarbon resources. This responsibility has driven us to deliver significant societal and economic benefits to not just the Kingdom, but also to a vast number of communities, economies, and countries that rely on the vital and reliable energy that we supply.
We are one of the most profitable companies in the world, as well as amongst the top five global companies by market capitalization.
We are looking for a Compensation Policy Specialist to work for Executive Development & Compensation department which reports directly to the President & CEO. The Executive Development & Compensation department is responsible for matters pertaining to development & compensation for Corporate, Executive & General Management level employees.
The function of this position is to consult and advise management in one of the major areas of Human Resources Policy & Planning - typically in the benefits, compensation and HR policies field.
The incumbent performs projects and assignments in the human resources areas where high level professional competence is a necessity. The incumbent should have comprehensive experience, background and specialist knowledge in one or more areas of the total rewards spectrum. Incumbent therefore brings a full package of skills to projects and can produce recommendations along comprehensive lines dealing with major policy and planning changes which may create significant precedent and have corporate wide ramifications. The incumbent functions as a highly independent departmental member with considerable latitude to determine methods and procedures for development and implementation of assignments.
This position specifically focuses on executive compensation and benefits and includes development of policies as well as execution of the approved policies, plans and programs. This position is responsible for development of materials presented to the Board of Directors of the Saudi Arabian Oil Company. As a senior team member, the position will be tasked with leading teams of analysts on major department and Company initiatives in the area of executive compensation and benefits.
You will be required to perform the following duties:
Develop materials for the compensation committee of the board of directors and present these materials to senior company management and committee members as required.
Administer critical compensation and benefit plans/programs.
Provides functional direction to other assigned professionals to get projects completed. Mentors less seasoned employees.
Reviews policies and procedures, researches or devises methods of organizing tasks and coordinates implementation of approved programs.
Advises and counsels management in relation to the specialty area. Provides high level consultative services to JVSAs and government agencies.
Acts as task force member or committee member where specialist knowledge is required.
Conducts global surveys as required, or provides input into data collection for such surveys. Assesses the extent to which SA policies should be changed, including alternative recommendations.
As the successful candidate you will hold a minimum of Bachelor of Science Business and Management (Human Resources or Occupational Psychology)
You will have at least 12 years' experience in the field, five of which should be in the specialized field.
Along with the minimum requirements stated above, preference will be given to candidates with previous executive compensation and benefits experience as well as experience interacting with senior company executives and members of the board of directors. This experience should include:
Development of total rewards strategy for executives as well as policies related to compensation, benefits and perquisites designed to fairly reward company executives, encourage their contribution to achieving business objectives and retain top talent.
Experience administering executive compensation plans and programs to oversee the other analysts within the department performing those particular tasks including administering a cash based short-term incentive plan and share based long-term incentive plan.
Experience negotiating contracts and working with third party administrators and external consultants.
Our high-performing employees are drawn by the challenging and rewarding professional, technical and industrial opportunities we offer, and are remunerated accordingly.
At Aramco, our people work on truly world-scale projects, supported by investment in capital and technology that is second to none. And because, as a global energy company, we are faced with addressing some of the world's biggest technical, logistical and environmental challenges, we invest heavily in talent development.
We have a proud history of educating and training our workforce over many decades. Employees at all levels are encouraged to improve their sector-specific knowledge and competencies through our workforce development programs - one of the largest in the world.