Deputy Manager/Manager - Compensation & Benefits - Bank

Description:

- Our client, a Leading Private Bank is looking out for a Deputy Manager / Manager Compensation & Benefits to support the development and administration of our compensation structures and benefits programs to be based at Mumbai. The ideal candidate will have at least 3 years of hands-on experience in C&B, with strong analytical capabilities and exposure to HR systems and statutory compliance.

Key Responsibilities:

Compensation Management:

- Assist in the design and implementation of compensation structures including salary benchmarking, pay bands, and internal equity.

- Support annual salary review processes, including budgeting, increment planning, and bonus payouts.

- Work with external consultants to participate in salary surveys.

- Conduct job evaluations and contribute to role grading processes.

Benefits Administration:

- Administer employee benefits including medical insurance, wellness programs, and statutory benefits (PF, ESIC, Gratuity).

- Liaise with vendors, insurance providers, and internal teams to ensure smooth delivery of benefits.

- Handle employee queries related to compensation and benefits.

Analytics & Reporting:

- Prepare regular reports and dashboards on compensation costs, headcount, attrition, and benefits utilization.

- Conduct internal pay benchmarking to support decisions on promotions, transfers, and new hires.

Compliance & Audits:

- Ensure compliance with local labor laws related to compensation and employee benefits.

- Maintain data accuracy and audit-readiness for compensation and payroll records.

HR Systems & Projects:

- Support implementation and maintenance of HRIS or compensation tools (e.g., SAP SuccessFactors, Workday).

- Contribute to process improvement projects related to compensation workflows.

Qualifications & Skills:

- Education: MBA / PGDM in HR or related field from a recognized institute

- Experience: 3+ years of relevant experience in Compensation & Benefits or broader HR roles with a C&B focus

- Strong Excel and data analysis skills; familiarity with dashboards and HR analytics

- Good understanding of Indian labor laws (PF, Gratuity, Bonus Act, etc.)

- Excellent interpersonal and communication skills

- Detail-oriented and able to handle sensitive data with confidentiality