Senior Manager/AVP - Compensation & Benefits - BFSI

Company : A Leading Financial Services firm

Role : Senior Manger / AVP - Compensation and Benefits

Job Description :

The incumbent will be responsible for leading the various projects under the C&B domain such as compensation benchmarking surveys, annual increment cycles, performance bonuses, sales incentives, etc.

Compensation Philosophy :

- Define a fair, equitable and competitive total compensation package that fits and is aligned to our company's strategy and business goals.

- Ensure that compensation practices are in compliance with current legislation.

Annual Compensation Review Cycle :

- Program manage the Annual Compensation

-Review cycle to ensure complete budget management and timeline adherence

- Use statistical methods and techniques to make data based decisions on various aspects of compensations.

- Drive pay for performance through targeted variable pay programs including but not limited to Sales Incentive Plan, Annual Bonus Plans, LTI and STI.

- Deploy effective communication strategies and success metrics.

Benefits Management :

- Work with Head C&B to ensure smooth deployment and maintenance of key employee benefits.

- Work closely with internal procurement team in vendor management and renewals

- Work with Compliance Team to ensure adherence to all statutory compliance requirements

- Participate in benchmarking studies to ensure competitiveness of our benefits

Benchmarking & Market Intelligence :

- Participate in salary benchmarking surveys to determine prevailing pay rates and benefits

- Conduct ongoing research into emerging trends, issues and best practices