Human Resources Senior Associate

Human Resources Senior Associate – Pension Administration

Location: Washington, D.C., United States

The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.

About this position

We are looking for a dynamic and innovative Human Resources Sr. Associate – Pension Administration who will help us change people’s lives in Latin America and the Caribbean by carrying out an effective administration of retirement and post-retirement benefits for IDB staff.

The IDB’s Retirement Plans Pension Administration team is part of the Executive Secretariat of the IDB Retirement Plans (VPF/SRP) and oversees administering the benefits and actuarial lifecycle of five retirement plans for international and local employees. With over 5,000 participants, the Secretariat needs a strong team of professionals to administer pension benefits, payments, and associated pension administration systems in an efficient manner.

SRP is responsible for overseeing the payment or distribution of benefits, managing the investment of assets, carrying out the day-to-day administration of the Plans, and performing other functions contemplated in the Plan’s regulations and/or delegated by the Managing or Pension Committees. SRP is clustered into three teams: investment, pension administration, and front office and analytics. You will be part of the pension administration team.

What you’ll do:

Determine pension benefits for the Staff and Local Retirement Plans, cost-of-living adjustment to pensions, restoration of service, and transfer of pension rights under the IDB Retirement Plans agreements.
Apply the Bank’s Personnel Policies and Retirement Plans’ Regulations to effectively counsel Plans’ participants on benefits and retirement options, and long-term financial impact on participants and beneficiaries.
Maintain transactional flow, payment reconciliation, and other spreadsheets used for reporting purposes. Verify the accuracy of Bank statements and the reconciliation of all reports in order to identify and correct errors.
Prepare documents, compliance reports, and presentations for the Bank’s senior management and Plan’s Governance Committees.
Monitor current pension trends and provide in-depth research studies on pension-related matters.
Provide input into improving business processes, tools, and methodologies related to pension administration, including the automation and integration of processes to increase operational efficiency, improve traceability for audit purposes, and enhance data protection.
Work with the Bank’s internal and external auditors, payroll, budget, and accounting personnel.
Work collaboratively with other Pension Administration team members in the timely preparation of the annual Participant Census Data exercise.
Work in organizing pre-retirement seminars for soon-to-retire participants and conduct regular onboarding presentations to educate new staff on the Plan’s features and benefits.
Prepare reports and analyses to reconcile personnel data and system transactions.

What you'll need:

Education: A master’s degree (or equivalent) in Business Administration, Accounting, Computer Science, Economics, Public Administration, or Law. Certifications in SAP ECC and SAP HCM are desired. Concentration on human resources or something similar is preferred. Experience: At least three years of relevant professional experience in pension administration matters, risk management, accounting, or human resources management. Experience in Project Management, process digitalization, and quantitative and financial analysis skills to administer pension benefits and payments are highly desirable. Knowledge of MS Project, Power BI, Tableau, SQL, and/or other programming, analytics, and visualization systems is a plus. Languages: Proficiency in English and one of the other Bank’s official languages (Spanish, Portuguese, or French) is required.

Key skills

Learn continuously.
Collaborate and share knowledge.
Focus on clients.
Communicate and influence.
Innovate and try new things.

Requirements

Citizenship: You are a citizen of one of our 48-member countries. We may offer assistance with relocation and visa applications for you and your eligible dependents.
Consanguinity: You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group.

Type of contract and duration:

International staff contract, 36 months initially, renewable upon mutual agreement.

What we offer

The IDB Group provides benefits that respond to the different needs and moments of an employee’s life. These benefits include:

A competitive compensation package, including an annual base salary expressed on a net-of-tax basis.
Leaves and vacations: 24 days of paid time off + 8 personal days + sick leave + gender-neutral parental leave.
Health Insurance: IDB Group provides employees and eligible dependents with a robust medical benefits program that covers medical, dental, vision, preventive care, and prescription drugs.
Pension plan: defined benefit pension plan that provides financial security and supports employees in planning for their future.
We offer assistance with relocation and visa applications for you and your family, when it applies.
Hybrid and flexible work schedules.
Health and well-being: Access to our Health Services Center provides employees with preventive care and health education .
Development support: We offer tools to boost your professional profile, such as mentoring, 1:1 professional counseling, training and learning opportunities, language classes, mobility options, among others.
Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, Spouse Career Program, and others.

Our culture:

At the IDB Group, we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.

Diversity, Equity, Inclusion, and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at to request reasonable accommodation to complete this application.

Our Human Resources Team reviews carefully every application. About the IDB Group

The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab, offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.

About IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance, and training to public and private sector clients throughout the region.

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Additional Information

External Opening Date: Feb 27, 2024 External Closing Date: Mar 14, 2024 Job Field: Human Resources