Head - Compensation & Benefits - Insurance

Job Description : Our Client - A leading Insurance player is looking to hire a Head C&B and PMS with overall 14 Years of experience out of which 8yrs into core C&B (end to end) and PMS experience.

Preference for candidates from sectors like BFSI, Pharma, E-commerce, FMCG, Leading brands with more than with at least 5000+ headcount.

Client Details : They are a Leading Insurance Player in the Market.

Description :

Key Responsibilities :

1. Gathers data from market-based compensation surveys; uses spread sheet and data analysis techniques to assess results and market trends.

2. Formulating Compensation Philosophy and Compensation strategy based on Organization Strategy and Market Compensation trends.

3. Responsible for Salary Planning - Merit Increase Budgeting, Compensation Survey Benchmarking and Analysis, Salary Range adjustments, Merit Grid.

4. Managing and Executing Annual Performance Appraisal and Salary Review cycles.

5. Managing and monitoring overall Annual Appraisal budget.

6. Compensation Analytics and Reports.

7. Review Variable pay policy, suggest, and execute changes.

8. Process Variable pay pay-out as per the financial results and approved policy.

9. Review Sales Incentive program, provide suggestions to build effective Sales Incentive program for business and validate pay-out calculations.

10. Review and implement changes in Compensation structure in the preview of changes taking place in Labour laws and other regulations and best practices followed in the Market.

11. Compensation finalization for Expats transferring against international positions.

12. Job Evaluation using Tower Watson tool.

13. LTI Plan benchmarking with Market trends.

14. Publish and maintained detailed comp analysis and dashboards for multiple stakeholders.

15. To be a consultant for the talent acquisition team to ensure maintaining parity for roles and remain competitive.

16. Administer and maintain ESOP and other Long term incentive plan program data

17. Collaborate with key stakeholders & leadership team for advise pertaining to Compensation and Benefits framework - Designing Executive Compensation Plans in line with Total Rewards Model

18. Consult on compensation plans including base pay structures, tax saving flexi benefits components, bonus programs & administrative guidelines

19. Analyze compensation and benefits data to identify trends, issues, and opportunities for improvement.

Skills required :

1. Minimum 8 years of experience into core C&B and PMS with overall 14 yrs of experience in HR.

2. Analytical, expert in excel and other analytical and dash boarding tools

3. Logical thinker and self -motivated

Profile :

- Team - 2

- Reporting - Sr VP - HR

- Location - Mumbai

- Mode - Work from Office

Job Offer :

- Opportunity to work with a leading Insurance Firm.

- Opportunity to Head the C&B Function.

- Page Group India is acting as an Employment Agency in relation to this vacancy.

- Contact - Karthik Krishnan - +91 22 4236 3342. The Apply Button will redirect you to website. Please apply there as well.