Total Rewards Manager
FHLBank Chicago•Chicago, IL
•$125,825 - $221,275•Onsite
About The Position
The Total Rewards Manager is a senior individual contributor who helps shape and execute the Bank’s Total Rewards strategy across compensation, benefits, and governance. This role operates as both a strategic partner and hands-on expert, driving programs that are competitive, compliant, and differentiated in the market. This position is suited for a high-performing professional who brings strong analytical rigor, executive-level communication skills, and a high ownership mindset, with the ability to translate complex data into clear insights and high-quality deliverables that support leadership decision-making.
Requirements
- Bachelor’s degree in Human Resources, Business Administration, Finance, or related field required
- 7+ years of progressive experience in Total Rewards, compensation, or benefits
- Experience supporting both the strategy and execution of compensation and/or benefits programs
- Experience with incentive compensation programs and/or complex pay structures
- Experience managing retirement programs including 401(k) and Pension
- Advanced analytical skills
- Ability to translate data into actionable insights and executive-ready narratives
- Strong presentation skills, including development of polished leadership materials
- High ownership mindset with ability to operate independently and drive results
- Strong prioritization and ability to manage multiple deliverables
- Effective cross-functional partnership and influencing skills
- Sound judgment and discretion with sensitive information
Nice To Haves
- Master’s degree in Human Resources or Business Administration preferred
- Certified Compensation Professional (CCP) or similar credential preferred
- Experience in financial services or other regulated industry preferred
- Experience with HR systems (e.g., Workday) preferred
- Strong Total Rewards expertise with solid understanding of market practices
Responsibilities
- Deliver data-driven insights that directly influence compensation, benefits, and workforce decisions
- Ensure Total Rewards remain competitive, innovative, and aligned to business strategy through clear, compelling analytics and executive-ready materials
- Drive continuous improvement by identifying opportunities to enhance programs, processes, and employee experience
- Build credibility as a trusted advisor through strong judgment, responsiveness, and high-quality execution
- Operate with a high degree of ownership—taking initiative, solving problems, and advancing work without direction
- Support development and evolution of Total Rewards strategy aligned to business priorities and market trends
- Translate strategy into actionable programs, analyses, and recommendations
- Execute and enhance compensation programs, including salary structures, market alignment, and governance
- Lead analysis of internal equity, market competitiveness, and pay decisions
- Manage incentive programs (annual and long-term), including modeling, funding, and performance alignment
- Support strategy and delivery of benefits programs, including a pension offering
- Analyze participation, cost, and effectiveness to inform benefit enhancements
- Partner with vendors to drive performance and employee experience
- Support executive compensation governance and develop board- and leadership-ready materials
- Ensure strong controls, documentation, and audit readiness across Total Rewards programs
- Develop models and analyses to inform compensation and benefits decisions
- Translate complex data into clear, concise, and visually compelling presentations for leadership
- Ensure compliance with regulatory requirements, policies, and audit expectations
- Provide guidance on Total Rewards matters across the employee lifecycle, including complex situations
- Partner with HRIS to run the Bank’s semi-monthly payroll and ensure accurate execution
- Support annual cycles (merit, incentives, Open Enrollment) with a focus on efficiency and experience
- Lead or contribute to high-impact Total Rewards initiatives
- Drive implementation, stakeholder alignment, and change management
Benefits
- Highly competitive compensation and bonus package
- Access to a comprehensive benefits program
- Retirement program (401k and Pension)
- Medical, dental and vision insurance
- Lifestyle Spending Account
- Competitive PTO plan
- 11 paid holidays per year
- Five weeks of vacation for new employees
- Annual stipend for employees to support wellbeing activities
- Central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop
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What This Job Offers
Job Type
Full-time
Career Level
Senior
