Specialist - Compensation & Benefits - BFSI/Real Estate

About the client:

- Company Name: fgli

- Industries: Banking / Financial Services / Broking, Insurance

- Company Type: Forbes Global 2000

- Funding Stage: Other

- Headquarter Location: Mumbai

- Nature of Offering: Product

- Founding Year: 2006

- No of Employees: 1001-5000

Compensation & Benefits Specialist - Mumbai

Our Client is one of the known brand in Financial Service industry headquartered in Mumbai is scouting for a Compensation & Benefits Specialist who would be handling compensation, benefits & would be responsible for the following -

Compensation :

- Participate in Comp and Ben surveys & Create a Robust Comp and Ben philosophy

- Analyse performance ratings, distribution curve and promotion recommendations

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

- Support in preparation of compensation related proposal and salary increments simulations to facilitate compensation decisions

- Execute compensation revision (increments) as well as variable incentive plans for onroll and offroll employees, including roll out of compensation review letters

- Execute compensation revision activities on system for Onroll employees including managing related activities, managing Performance management and compensation modules

- Analyse current PMS and suggest / implement changes in PMS as and when required

- Incorporate and map salary surveys data position wise to ensure internal data is in line with market data

- Work on bonus & incentive structures/ plans for all functions

- LTIP, ESOP's and other long term retention schemes

- Working knowledge on strategic workforce planning, job analysis, job evaluation & job design

- Provide wage cost analysis with YTD actual and budgets

- Plan & track comp & ben costing with respect to Manpower budgets for the year

Benefits :

- Review & update existing policies

- Study industry policies & proposal to align to the market

- Work closely with Operations for monthly updates, budget impact

Other Areas :

- Administer fair and robust Performance Enhancement Program across the organization for low performers

- Managing regular employee communication with respect to C&B policies and processes

- Ensuring processes related to data management on HRMS and other data platforms are adhered to and also processes are updated as and when required.