Chief Manager - Total Rewards - Life Insurance

Chief Manager Total Rewards - Life Insurance

Purpose:

To support Director Total Rewards & Talent Management in driving end to end design, implementation and administration of a comprehensive Total Rewards strategy and programs that will best represent the organization in the given market.

Key Responsibilities:

- Design, implement and administer company's compensation and benefits programs and ensure they meet the organization's objectives with regards to internal equity and external market competitiveness.

- Work on Employee Benefits plans (such as health, insurance, perquisites, retirement, pension etc,) and policy administration including employee communication and roll out.

- Participate in compensation & benchmarking surveys with external consultant and provide recommendations by bringing in the best practices

- Collaborate with HRBPs to advise and influence business teams in compensation and benefits strategy, and ensure our reward programs are being applied consistently and appropriately

- Managing the delivery of the monthly, half-yearly and annual salary reviews and variable pay process including benchmarking, developing proposals, ensuring system delivery and implementation of recommendation.

- Support in designing and monitoring Sales incentive plans and ensuring they are in line with overall Reward strategy of the organisation

- Monitor pay structures and benefits programs including review & analyse, internal promotion, external hires, retention incentives etc. to ensure external competitiveness, internal equity, and performance linkages

- Building relationships across Reward communities in LI and manage related service providers

- Design and publish insightful dashboard(s) to share key data, metrices and trends on monthly / quarterly basis on compensation and its linkages with other key metrics. Highly knowledgeable in conducting pay variances, pay behavior statistical analysis across all positions and recommend interventions to enhance pay competitiveness and total reward strategy.

- Lead the HR budgeting process - Prepare, monitor and control overall annual HR budgets including variance analysis on a monthly basis

- Ensure HR data quality control and integrity measures with regard to compensation

- Liase with Finance and other teams for monthly provisioning activity

Desired qualifications and experience:

Qualifications:

- Post-graduate (MBA or equivalent) from Tier I / II B-School

- Minimum 8 - 10 years of relevant experience in sizeable organisation

- Strong experience / knowledge of leading practices and trends in Total Rewards at all levels

Skills / Competencies:

- Proven experience working in fast-paced and progressive organizations.

- Excellent communication, interpersonal and presentation skills (must have)

- Strong problem solving and analytical skills and a high level of tech literacy is essential particularly advanced Excel

- Excellent financial / business acumen

- Ability to work effectively in an environment subject to changing priorities and short deadlines

- Self-starter with a proactive and inquisitive nature who can anticipate and pre-empt problems

- Strong planning, organizing, problem solving and decision-making abilities

- Proactive and organized with a strong attention to detail

- Self-starter with ability to prioritize tasks and work independently

- Working with multiple stakeholders and teams for smooth execution of projects