Compensation & Benefits Role - CoE - Financial Services Firm

Our Client is a well known financial services firm scouting out for a Compensation & Benefits Specialist

Job Location : Mumbai

Job Deliverables:

Compensation:

- Participate in Comp and Ben surveys & Create a Robust Comp and Ben philosophy

- Analyse performance ratings, distribution curve and promotion recommendations

- Provide regular update on the rating summary pre / post performance appraisal to the Functional Heads

- Support in preparation of compensation related proposal and salary increments simulations to facilitate compensation decisions

- Execute compensation revision (increments) as well as variable incentive plans for onroll and offroll employees, including roll out of compensation review letters

- Execute compensation revision activities on system for Onroll employees including managing related activities, managing Performance management and compensation modules

- Analyse current PMS and suggest / implement changes in PMS as and when required

- Incorporate and map salary surveys data position wise to ensure internal data is in line with market data

- Work on bonus & incentive structures/ plans for all functions

- LTIP, ESOP's and other long term retention schemes

Workforce Planning:

- Working knowledge on strategic workforce planning, job analysis, job evaluation & job design

- Provide wage cost analysis with YTD actual and budgets

- Plan & track comp & ben costing with respect to Manpower budgets for the year

Benefits:

- Review & update existing policies

- Study industry policies & proposal to align to the market

- Work closely with Operations for monthly updates, budget impact

Other Areas:

- Administer fair and robust Performance Enhancement Program across the organization for low performers

- Managing regular employee communication with respect to C&B policies and processes

- Ensuring processes related to data management on HRMS and other data platforms are adhered to and also processes are updated as and when required

- Work on structuring the compensation for international mobility in & outside the country, in alignment with the group norms

Stakeholder Management - Regular interaction with HOD's, Finance & the other stakeholders