Chief Manager/AVP/Lead - Rewards - BFSI (5-10 yrs)
Given below the position details with a Leading Bank. Location - BKC Mumbai
Job Title: Chief Manager/AVP/Lead - Rewards
Reporting to the Head -Rewards
Location - BKC Mumbai
Job Description :
Job Purpose :
- The position will be responsible for Planning, Designing, Implementing and Administering a comprehensive Total rewards strategy and programs for the Company / Business Unit/'s.
- The position will research and bring in-depth understanding of best - practices and innovative trends to apply them to the Total Rewards Program.
Primary Responsibilities :
- The Primary Responsibility is to manage Rewards for a set of business & function units, which will include designing & reviewing Compensation structures, evaluating the Variable pay programs vis-a-vis performance, Compensation Benchmarking, Performance Management for the specified units & Executing various reward programs. Manage all compensation matters, such as market mid-point analysis, Internal mid-point analysis.
- Collaborate with the Talent Acquisition teams to define Hiring grids, Trend Analysis, Mid-point movements.
- Evaluate the compensation landscape to understand and learn from best practices through bench-marking and industry research and employment trends, track legislation and make recommendations. Support all compensation planning processes in collaboration with HR Operations.
- Support the development and integration of new and existing reward programs, policies and procedures to ensure that programs are market competitive, internally equitable and cost effective. Determine and implement metrics that assess and monitor the effectiveness of ongoing Reward Programs and new initiatives.
- Design Analytics and Dashboards for Rewards program, Performance Management & Variable pay - productivity programs. Program design, deployment and implementation of best in class frameworks.
Secondary Responsibilities :
- Communicate actively with Accounting, Finance, Operations, HR and other departments to review cross-functional impact and data sharing
- Ensure compliance on Reward related matter.
- Policy analysis, development, formulation and implementation.