Senior Manager - Compensation & Benefits

Job Purpose

Support and execute compensation and benefits initiatives such as market surveys, compensation benchmarking, benefits plans, Performance Management System, payroll and other employee payout inputs, generation of MIS reports, repository creation of all JDs/KPI/KRA, audit needs, thus ensuring compensation & benefits plans are executed seamlessly across all business units viz ABML, ABIF, ABARC.

Job Context & Major Challenges

Job Context/Job Challenges

Aditya Birla Money Limited (ABML) is primarily a Broking Company, deals in Equity, Commodity & Currency. Workforce of 800 spread across 40 locations with customer base of in excess of 3 lacs. Commodity operations are managed through its 100% subsidiary Aditya Birla Commodities Broking limited. ABML is one of the leading securities trading companies in the country. ABML operates in a fragmented equity broking business and has a daily turnover of close to 3,000 Crores with a market share of 1%. ABM works in a highly regulated environment with a host of regulators like SEBI, RBI, AMFI, FMC, IRDA etc. regulating its day to day operations. In addition to the regulator ABML is also subject to close monitoring and inspection through various agencies like NSE / BSE / NCDX / MCX / NSDL / CDSL etc. ABML also operates in a highly competitive market mainly in fragmented industry with ABML competition from major National Broking houses like ICICI Securities, HDFC Securities, Angel Broking, MOFSL etc. and a range of local broking outfits.

The Human Resources department manages the entire gamut of employee management and employee development activities for ABMML, ABML and ABCSPL. This includes Talent Acquisition, Training & Development, Compensation & performance management & HR Statutory Compliance.

The position is currently responsible for Three companies -Aditya Birla Money Ltd, Aditya Birla Infrastructure Finance Ltd & Aditya Birla Asset Reconstruction Company Ltd. These companies form part of the Aditya Birla Capitals core business and integral to the growth plan of ABCap.

The Chief Manager -Comp. & Benefits, supports the C&B function and will support the business on all compensation, remuneration and benefit related topics.

The Major Challenges In This Role Are

Providing analysis and accurate data inputs in short timeframes within defined timelines

Ensure strategic plans with respect to compensation initiatives and benefits plans are executed seamlessly

Support in managing compensation and benefits programs in alignment with the ABCap Compensation architecture.

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 Ensure accurate and timely payroll inputs Ensure timely updation & generation of changes in salary annexures as and when due.

Liaise with payroll team for timely processing of various employee payout inputs.

KRA2 Execute the Annual Performance Management process with respect to data analyses in line with budgets & the proposal finalisation document as per given timelines Analyse performance ratings, normal distribution curve and promotion recommendations

Provide regular update on the rating summary pre / post performance appraisal to the Functional Heads

Review employee records and ensure that information is uploaded on the Poornata system within defined TATs

KRA3 Provide MIS & Analytics periodically on compensation and benefits utilization & ensure controls and Data Management Support in the analysis of benefits utilization/ cash out trends/business performance (budgets vs actuals)

Support in the analysis of comp & ben costing with respect to Manpower budgets for the year.

Provide periodic & standardised reports on Goal setting, PMS completion, etc

Provide dashboard on various C&B related analysis

Provide and ensure quick availability for basic C&B data and various analytics to aid in making right and informed decision w.r.t. C&B and HR policies

Ensure employee data is recorded accurately on Poornata system

KRA4 Handle Compensation Helpdesk to support and close employee queries Close all employee queries within TAT, especially during special initiatives and performance review cycles.

Analyse the trend in the inflow of queries, arrive at FAQs for repeat queries

Proactively help in closing requirements related to repeat queries by sharing information to hr help desk

KRA5 Ensure smooth management of Poornata System for the organisation to ensure that employee records are maintained and updated in a timely manner Ensure adequate documentation and updation of JDs/KPI/KRA for all the roles in the organization and their validity against goal settings of the respective incumbents.

Collaborate on periodic information audits

Ensure efficient data management on Poornata System pertaining to employee records