2 Reward Analyst jobs in Saudi Arabia

Job Req ID: 14273- Description:

- **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.

**Overview**:
Benefits Division is responsible for designing and maintaining cost effective and competitive Benefit programs that enhance the employees’ financial security. The benefits programs are intended to:

- Address protection against universal risks (medical, disability and death)
- Assist in asset accumulation through programs such as retirement, savings plans, and home ownership program which are designed to provide a source of funds and retirement security to employees.
- These programs are reviewed, or as business operations needs arise, in order to maintain their attractiveness for the retention and motivation of the Company’s workforce

**Key Responsibilities**:
Work on employee benefits, including the planning, development and delivery of corporate benefits policy and programs to support the corporate strategy and objectives, both short-term and long-term.
Provides professional staff assistance to corporate and affiliated company management on benefit matters for more than 79,000 employees, including pension, savings, medical, dental, death, disability and termination benefits. Accountable for annual actuarial and benefits consulting service and benefits-related vendor services.
Strong communication skills, especially with regards to communicating and advocating HR benefit policies to employees and/or other core stakeholders. This will include, but not be limited to, the benefit plan communications direct to employees, communications to Chief Position Holders to enable them to advocate on HR’s behalf and training presentations.
Continuous contact with all levels of Management to explain and interpret information, policies or procedures and to advise on recommendations of new and/or changes in current benefit programs.
Internal peer contact with other organizations such as Personnel, Finance (accounting, payroll, etc), Law,, Internal Auditing, Medical Administration (in house), Occupational Health and Wellness.
Provides advice to management concerning benefits strategy, policies and administration.
Maintains current information on competitive benefit practices and trends, legal requirements, social insurance programs and mandated benefits in locations where the Company operates.
Monitors changes in market conditions which affect attainment of corporate objectives of
attracting and retaining high quality employees.
Prepares and presents proposals to Management (or the Compensation Committee/Board of Directors) for significant changes to benefit plans and programs.
Prepares benefits budget and explains cost variances.
Responsible in designing benefit plans which are tax-effective or which add value to the employee’s total remuneration package.
Works with providers of benefits services, including trustees, administrators, insurers, investment managers, etc. to meet the needs of plan participants on a cost-effective basis.
Works with plan actuaries, Treasurers and Controllers to ensure that benefit plan costs are recognized to be consistent with generally accepted accounting principles, with appropriate controls to audit payments, and to ensure that there are adequate funds or resources to pay these benefits.

**Minimum Requirements**:
**EDUCATION**: Bachelor’s Degree in Business Administration, Finance, Economics, Human Resources, or some closely related discipline.

**EXPERIENCE**: Ten (10) years of experience in Human Resources activities, with at least five years in employee benefits, and the balance in related areas such as personnel, finance, law, compensation, corporate planning, medical planning, or consulting. Must be able to express ideas and thoughts orally and in writing and develop logical and clearly defined reports and presentations in English.

**KNOWLEDGE AND ABILITY**: Wide knowledge of human resources, with emphasis on benefit plans and programs, and related matters. Incum