While most binary inspirals are expected to have circularized before they enter the LIGO/Virgo frequency band, a small fraction of those binaries could have non-negligible orbital eccentricity depending on their formation channel. Hence, it is important to accurately model eccentricity effects in waveform models used to detect those binaries, infer their properties, and shed light on their astrophysical environment. We develop a multipolar effective-one-body (EOB) eccentric waveform model for compact binaries whose components have spins aligned or anti-aligned with the orbital angular momentum. The waveform model contains eccentricity effects in the radiation-reaction force and gravitational modes through second post-Newtonian (PN) order, including tail effects, and spin-orbit and spin-spin couplings. We recast the PN-expanded, eccentric radiation-reaction force and modes in factorized form so that the newly derived terms can be directly included in the state-of-the-art, quasi-circular--orbit EOB model currently used in LIGO/Virgo analyses (i.e., the SEOBNRv4HM model).