DVP/AVP - Compensation & Benefits - BFS

Job Description :

Role Summary/Purpose :

- Support rewards leader in implementation of total rewards philosophy to align with the overall people strategy as well as business strategy of the organization.

- Design and develop total rewards policy, design and execute VIC policy/bonuses, benefits & recognition programs based on business and HR strategy.

Position Responsibilities :

- Support the Rewards Leader in implementation of the total rewards philosophy to align with the overall people strategy as well as business strategy of the organization

ESOP Management :

- Be custodian of all HR Policies and support Rewards Leader for any changes in the interest of aligning them with business and HR strategy

- Implement total rewards policies by partnering with senior from business and HR leaders on total rewards strategy

- Administer all aspects of deferred compensation programs, including generating communications and personals statements, producing reward statements, and serving as a point of contact for all executive inquiries

- Ensure and direct the department in resolving salary and other reimbursement related queries / concerns of employees on an ongoing basis

- Participate in third party compensation-related market compensation and benefit surveys, and with discretion, compare and analyse results to assess market competitiveness for the company's pay structures

- Recommend changes in the total rewards strategy to the Rewards Leader based on executive satisfaction survey results, turnover data, and exit interview feedback in conjunction with external market trends

- Develop and administer the design policy for increments and promotions based on business and HR strategy and market insights

- Design variable pay (VIC) policy / bonus based on business and HR strategy

- Provide inputs on salary fitment, joining bonus guidelines and campus hiring

- Execute the process of creation of job grades

- Assist and own the transition of C&B processes and implement new reforms for best practice implementation

- Measures of Success (Define the Outcomes expected of the role) Timely & Flawless implementations of :

i. Increments 

ii. Variable Pay

iii. ESOP

iv. Manpower Planning

v. HR Policies

- Ensuring all the above are market benchmarked & competitive

Skills Sets :

- Required Master's degree (HR specialization) from accredited B-school

- Strong working knowledge of HR policies, processes & industry practices

- High level of analytical and problem solving skills

- Strong conflict resolution skills & ability to manage competing priorities & monitor project implementation

- Demonstrate strong facilitation, influencing and problem solving skills

- Ability to objectively analyze current practices, identify improvement opportunities, create buy in and drive implementation

- Advanced knowledge of the legal and regulatory environment as it relates to employee compensation and benefits, including emerging legislation

Relevant Experience : 7-9 years of experience in the Human Resources function with a minimum of 4 years experience as a C&B Management specialist

Preferred Industry(If any) : Financial Sector

Ishika