Senior Manager/AVP - Compensation & Benefits - BFSI

Salary Offered : 9.50 LPA

MBA must 

1. Job Purpose Statement (Summarise in one/two statements why this job exists and the contribution makes to the overall business of the company.)

To provide support to HR Operations in relation to all aspects of:

- Designing, Implementing, Controlling and Monitoring Compensation Policy & Total Rewards Framework

- Implementation of Related processes compensation for all Incentive/ Bonus/ Performance Pay Plans within the Statutory Framework

- Ensuring Compensation Data Management & Timely Flow to Payroll

2. Duties and Responsibilities (List in the order of responsibilities of this job)

Compensation and Benefits :

- Responsible for the delivery of Compensation-related processes monthly, including processing of Incentives Mthly/ Qtly / or any special incentive, Leave Encashment, statutory bonus cycles are run smoothly, ensure all compensation activities are undertaken correctly accurately and as per timelines.

- Responsible for Annual Compensation.

- Ensuring state wise Statutory Minimum wages are met.

- Responsible for implementation of different compensation projects i.e. market benchmarking, policy benchmarking, deriving inferences and suggesting suitable adjustment to the Management and implementing the same.

- Designing compensation for promotion cases.

- Responsible for successful implementation of Total reward framework.

- Develop and execute implementation/communication strategies for any plan changes and other benefits initiatives.

- Resonsible for researching, resolving and responding to benefits queries and escalations from employees, the HR function, and management.

Payroll :

- Responsible to ensure and provide necessary data monthly, including new hires, salary change etc for payroll process (including pre- payroll) is run effectively and timely as per pre- defined time lines.

- Maintaining Compensation data in SAP.

- Benefit Management

- Policies

- Budgeting

- Employee benefits - transfers/ deputation/confirmation

- Audit Process

- Carrying out periodic audit of the HR process

- System audit