AVP - Compensation & Benefits - BFSI

Role Summary/Purpose:

- The compensation and benefits lead’s primary responsibility is designing, overseeing and implementing the Compensation and benefits programs for GE-SBI JV in India through monitoring salary structures, balancing staffing needs with cost controls, and ensuring that policies, procedures and programs are in alignment with the organization’s overall strategic objectives and HR vision.

- The role reports to JV HR Leader.

Essential Responsibilities:

- Develop and implement an equitable and competitive JV compensation policy, which is supportive of business objectives

- Collaborate closely with the HR business partners, Functional Heads, Staffing COE in the country to facilitate attraction, motivation and retention of talent through competitive Compensation and Benefits design and administration.

- Contribute to building the JV C&B strategy in a very competitive market, balancing business needs and organizational Compensation philosophy.

- Advise, assist and counsel Human Resources Managers, at all levels, on individual salary management and on compensation related topics. Ensure Compensation & Benefits training programs are delivered to all HRMs.

- Lead annual compensation processes for JV salary planning, market analysis and Variable incentive payout for the client group.

- Formulate the key assumptions to be used to develop budget of C&B costs, through the analysis of market trends and economic indicators.

- Build strong relationships with Senior Business Leaders and partner productivity through incentives.

- Monitor industry and external market trends and identifies opportunities for change in the context of financial services business.

- Lead and participate in the annual market survey data process of benchmarking positions to external surveys and analyzing market data to provide value-added reporting detailing competitive market positioning for the business.

- Support staffing activities by conducting job evaluation, competitive benchmarking and structuring of new hire and promotion offers.

- Ensuring good governance, service providers reviews, audit support from time to time.

- Monitor retiral administration and compliance to various laws pertaining to wages and retiral benefits.

Qualifications/Requirements:

- MBA in HR

- Demonstrable leadership capability with well-developed coaching, mentoring, influencing and stakeholder relationship skills

- Able to navigate, lead and manage within a highly matrix environment.

- High level of analytical and problem solving skills

- Minimum of 8-10 years post qualification HR experience, preferably with 5 years in C&B or related sub-discipline in Banking & Financial Services sector.