Compensation & Benefits Manager - BFSI

Job Description:

Compensation & Benefits Strategy, Design & Governance:

- Responsible on a global level for compensation and benefits process that will involve compensation strategy, research and benchmarking internationally. Set policy and create the framework for the compensation structure and benefits.

- Lead the development and implementation of compensation and benefit programs that are competitive, legally compliant and fairly applied and that support the business in recruiting, retaining and motivating all levels of employees in the different employment markets.

- Design comp/benefit structures in line with local practices, handling compensation surveys and benchmarking on a global scale.

- Evaluating C&B processes and policies to ensure they are current, competitive and in compliance with local legal and taxation rules and regulations.

- Lead reward due diligence with respect of new market expansions.

- Monitor salary structure and benefits at all times and develop competitive benefit packages.

- Develops and recommends proposals for the annual pay review program that take account of complex factors (e.g. position versus market, legal requirements, internal feedback, business strategies, cost to revenue ratio, budgets available, etc.)

- Participates in the design of effective employee recognition programs and variable pay plans that directly support the business strategy and goals.

- Evaluate competitor compensation and benefits packages, creating policies and procedures; monitor the payroll interface to ensure compliance and data integrity.

Compensation Planning, Budgeting & Rewards Administration:

- Negotiate and administer healthcare and retirement plans.

- Responsible for end to end planning and execution of compensation budgets.

- Conducting reviews of current base salary levels and proposing salary changes based on job analysis, internal salary data and external market data.

- Manage reward program design, ensuring compliance, accurate costing, and proper documentation.

- Manage manpower budgeting and forecasting; monitor and analyze staff cost variances against budgets.

- Should be able to resolve compensation issues and independently make appropriate recommendations to the management, wherever required.

Operations, Compliance & Process Excellence:

- Develops and shares knowledge capital in the compensation area.

- Ensures that effective processes, automation and controls are in place to support new and existing programs. Manages programs to ensure required service levels and compliance with established parameters.

- Ensures that program details are effectively communicated, managed and within approved parameters.

- Ensures timely notification of job grades and supporting rationales to relevant areas and implements effective processes to ensure the grades are correctly applied and controlled.

Sustainability:

- Promote judicious use of natural resources.

- Adhere to the organisation's environment, health, and safety policies, objectives, and guidelines.

Anti Bribery Management Systems (ABMS):

Follow the ABMS roles and responsibilities details as prescribed on the ABMS manual.

1. Understanding of ethical standards and the importance of integrity in business practices.

2. Ability to identify and evaluate risks related to bribery in various business contexts. For more detailed explanation, follow the ABMS manual.

Education:

- Postgraduate/ Masters degree in Human Resources or an equivalent global qualification.

Experience:

- Over 10+ years of Human Resources experience, including expertise in compensation and benefits within a global organization.

Critical Competencies:

Behavioral Competencies:

- Communication

- Quality and Service Orientation

- Delivering Results

- Digital Fluency

- Diversity, Equity and Inclusion Orientation

- Personal and Professional Development

- Leadership

- Networking

- Entrepreneurship

Functional Competencies:

- Data Analytics

- Compensation Framework

- Manpower Planning & Budgeting

- Stakeholder Relationship Management