AVP/Vice President - Compensation & Benefits - Insurance

Position - AVP/VP - Compensation and Benefits

Department - Human Resource

Reports to - Head COE

Industry - Insurance

Location - Gurgaon

Team : IC role

About Client: Our client is part of a renowned Indian Conglomerate which is professionally managed with presence across Financial Services and Insurance. The group companies are distinct brands and are well respected and admired in their own operating segments. The business entity in which this role exists is into Insurance

Role: Responsible for the design, implementation, and ongoing evaluation of the organization's compensation and benefits programs, including base pay, incentive pay, health and welfare benefits, and retirement benefits. Works with senior management to ensure that compensation and benefits programs support the organization's business objectives and meet all legal requirements. Develops compensation and benefits budget for assigned areas and manages budget after it is approved.

Responsibilities:

Compensation:

- Implement Incentive schemes for various channels Compensation administration during increments and bonus cycle

- Primary checks on data

- Ensure timely payouts as per the process

- Streamlining and managing the promotion Process

- Work closely with patch owners & business HR to streamline the monthly promotion process

Performance Management :

- Implement Performance Management Plan for the organization

- Analysis of PMS data through prescribed sanity check

- Facilitate goal setting process for all levels:

Cost Management

- In partnership with Finance prepare monthly dashboard

- Track key projects aligned with cost savings areas identified

- Provide regular dashboards to track plan vs actual

- Ensure that all hiring etc is within agreed budget

Board Presentations :

- Ensuring all the data points and details are submitted to board on time in form of structured PPT

- Overall responsibility of conducting NRC every quarter

Recognition :

- Lead the formulation of reward recognition and benefits strategies aligned business needs and develop and manage related policy and procedures and systems.

Desired Candidate profile:

Education Qualification: Regular MBA degree in HR

Experience: 10-15 years

Mandatory: Should have experience in Compensation and Benefits in COE role, designing of salary grades, performance management etc

Industry: Open

Soni (9560395703)