AVP/Vice President - Compensation & Benefits - Insurance

Key Responsibilities/ Key Deliverables :

1. 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

- Work closely with business HR and co-create career progression plans

- Responsible for Compensation Town Hall Presentation

2. Performance Management :

- Facilitate goal setting process for all levels:

- Finalise goal sheet templates for all positions & channels

- Timely uploading of templates on the system

- Implement Performance Management Plan for the organisation

- Analysis of PMS data through prescribed sanity check 

- Resolution of employee queries from all patches

- Coordinate with IT to ensure smooth functioning of system

- Revisit goal sheet templates to ensure alignment with business.

- Senior Leadership Team

- Responsible for projects related to Senio

- Leadership Team such as : Developments Plans/ Performance Management/ Comp revision and Bonus Letters.

3. Cost Management :

4. In partnership with Finance Team, prepare monthly dashboard

5. Track key projects aligned with cost savings areas identified

6. Share MIS / dashboard with HRLT and business HR

7. Summary dashboards for key business heads

8. Annual manpower planning

9. Partner with business HR to create the annual budget including manpower requirement and associated costs

10. Provide regular dashboards to track plan vs actual

11. Ensure that all hiring etc is within agreed budget

12. Measures of Success

13. Timeliness of process steps and completion

14. Accuracy of data and analytics

15. Feedback from stakeholders

16. Cost- budget vs actual

17. Cost - monthly dashboards

18. Board Presentations

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

20. Overall resposnsiblity of condicting NRC every quater

21. Recognition

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