Head - Compensation & Benefits/Total Rewards/Talent Management - BFSI

Head - Compensation & Benefits, Total Rewards, Talent Management

Description - Our Client, a Leading Financial Service Firm is looking to hire a Leadership candidate to Head - Compensation & Benefits, Talent Management & Performance Management Functions.

Client Details :

They are a leading Financial Services firm Headquartered in Mumbai.

Description :

1. Rewards strategy:

- Propose formulation of talent & rewards philosophy/ strategy aligned with performance driven culture aligned with the key tenets of business strategy.

- Conceptualize models for annual rewards review, propose changes in variable pay/ bonus model /incentive schemes in alignment with business strategy/ budget.

- Review and ensure equitable compensation aligned to roles for new talent acquisition / at the time of salary review process.

- Conceptualize and drive implementation of employee recognition processes at company (providing adequate governance and business level flexibility), ensure its strong linkage to right behavior aligned with focus of business strategy.

- Periodic review of employee benefits, introduction of new benefit offerings to employees

2. Talent management:

- Design and drive talent management initiatives (e.g.jobs evaluation, competency framework, design of role-based organization and structure etc.) to support business needs.

- Conceptualize and plan initiatives to build healthy leadership / succession pipeline for critical roles, and work with HR business partner team / business & function heads to drive and implement actions.

- Design/ drive programs and frameworks to ensure diversity and inclusion of talent at company.

3. Performance management and engagement:

- Identify/ refine performance philosophy of the company, and monitor/ review performance management implementation across business/ function verticals.

- Scan industry best practices, review applicability in company's context, identify/ recommend areas to change process.

- Plan and drive implementation of initiatives to build managers capability performance management / continuous development of their team / focused feedback to enhance outcome effectiveness.

- Review employee feedback (via satisfaction surveys/ other mechanisms/ metrics), and plan critical initiatives to improve employee engagement and reduce attrition (with a special focus on especially new joiners - given high attrition in the GI Industry)

4. Planning and Productivity Review + HR Analytics

- Lead breakdown of employee expense budget; Lead manpower budgeting conducted during AOP phase including headcount, grade allocation, location allocation, asset allocation, workstation allocation.

- Partner with Finance to conduct budgeting for the organization (from a bottom line - headcount expenses perspective)

- Conduct monthly and quarterly review of incentive payouts with function heads.

- Guide team to conduct monitoring of key parameters including productivity, attrition, overall expenses, incentives, hiring and other indices; draw inferences and engage with business teams to implement course corrections.

5. Audit and compliance:

- Design and maintain processes with adequate risk controls.

- Provide all required information during functional audit, review audit findings and plan actions with

team to plug gaps (if any)

6. Team development

- Participate in selection process to identify right talent for positions within talent and rewards department.

- Effectively engage team and provide guidance/ support for professional development of team members to ensure productivity enhancement of talent

Profile:

1. Minimum 15+ years of experience in HR domain with majority of experience in managing Compensation & Benefits.

2. Candidate must be currently working in the BFSI sector or should have worked in the past for atleast 5 to 7 years.

3. Prior experience of having handled talent & rewards management portfolio

4. Experience of driving/ implementation of large HR transformation initiatives

5. Exposure to talent nuances in large and mid-size organizations

6. Day working

Job Offer:

- Opportunity to work with a leading Financial Services Company.

- Opportunity to Head C&B, TM & Performance Management Function.