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Senior Manager - Compensation & Benefits/HR Operations - BFSI (10-15 yrs)

Mumbai Job Code: 731568


Division : Human Resources

Department : Human Resources

Sub- Department : HR Operations

Job Title : Senior Manager - Compensation & benefits and HR Operations

Reports to : Director HR

Grade : Senior Manager

Span of Control : 1 Deputy Manager + 2 Assistant Manager + 1 Analyst

Job Purpose :

- The Senior Manager - Compensation & benefits and HR Operations is expected to support the HR strategy on HR Operations and Compensation Benefits for the organization by delivering the best in class HR services and processes.

- Additionally will also administer and provide strategic oversight of HR operations and compensation functions to the organization. Ensure that the HR practices, policies and systems are consistently administered in compliance with the organization's policies and as per regulatory requirements.

Job Dimensions :

Knowledge and Expertise :

- Recognized internally as an expert in a domain of business, product/services or a particular marketplace. Is viewed as a critical role within the organization and has market eminence.

- Is viewed by senior customer contacts or internal stakeholders as a peer and an influencer of the organization's resources.

Job Complexity :

- Work is non-routine and involves advanced tasks. Works independently under minimal guidance. Outcomes are reviewed periodically for attainment of objectives, adherence to policies, and effectiveness of results. Problem solving requires evaluation, interpretation and judgment to select the right course of action.

- Anticipates patterns and looks for beyond immediate problem to predict future issues. Contributes to process improvements. Analyses complex problems and delivers solution s where precedent may not exist

Client Relationships / Communication Skills :

- Interprets or explains data or information to deliver messages to audiences not knowledgeable about the subject matter. Role is consultative and may not have an authority to affect decisions and outcomes

People Management and Strategic Impact :

- Translates strategic objectives into operational goals and steers the direction of the division towards the achievement of overall objectives. Manages a sub - function / small function / division (sales )

Financial Impact :

- No direct financial impact or targets. Indirect impact is limited to completion of assigned tasks within the stipulated SLAs and quality standards

Geographical Impact : All Functions, All Business Units, 1 Country (India)

Principal Accountabilities :

Delivery Management :

Compensation & Benefits :

- Lead the total rewards strategy that includes design and implementation under guidance from the HR Director for the organisation.

- Enable alignment of compensation strategy to the business strategy. Also partner with Leadership & Senior Management team to identify issues/gaps within the functions and extend support with respect to policies, compensation related guidelines, employment law compliances and job evaluations.

- Leading the compensation benchmarking exercise starting with job mapping, deciding the peer group/comparator basket, data analysis, benchmarking and creating salary ranges (across levels) by effectively managing relationships with third party survey providers e.g. Aon Hewitt, Mercer, etc.

- Design and conduct sessions related to compensation programs ensuring managers and employees understand applicable Reward programs and also participate in the development & revision of annual incentive plans in line with the agreed principles

- Conduct complex analysis related to compensation such as survey data analysis, incentive cost modelling, merit budgeting, impact analysis etc and provide recommendations regarding policy/program revisions to the LT/CEO to ensure India's competitive positioning is maintained.

- Partner with the relevant teams on the maintenance of employee data records and provide relevant information & reports as required. This includes headcount data, job evaluations, organization charts, base salary and annual pay-outs.

- Manage benefit programs that includes program design, costing, invoicing, vendor management and negotiations to retain/attract talent for the organization.

- Accountable for the Annual compensation review processes that includes compensation review for the Leadership and Senior Management team while ensuring high degree of quality & accuracy in all deliverables.

- Forecasting, budgeting and cost management.

HR Operations :

- Responsible for developing overall HR policies, governance and compliance oversight of these policies to ensure the function is meeting set goals and objectives

- To measure and report on the effectiveness of HR programs (related to Wellness, on-boarding and compliances)

- To plan and direct the establishment and ongoing administration of HRMS in order to support short and long term goals

- Capture, monitor and report HR operational metrics to the management

- Support cross functional projects as and when required

- Design, oversee and implement the organization's compensation and benefits program for the organization

Change Management / Continuous Improvement :

- Review existing HR systems and processes in order to ensure they are fit for purpose and aligned to the best practices

- Drive organizational HR change initiatives

People Management :

- Drive teams to deliver as per agreed objectives

- Provide development and training opportunities for the team

- Act as a point of contact for the team for all queries and provide resolutions

- Monitor and track team's performance and conduct regular performance reviews with team members

- Plan and deploy cross skilling of team members

Stakeholder Management :

- Conduct regular reviews with business leaders and evaluate effectiveness of HR programs

- Understand the business needs and deploy suitable HR solutions

Context :

- Operating Environment

- The India Human Resources Team partners all the lines of businesses across the organisation (Operations, Knowledge Services, Finance and Information Technology).

The HR team provides services around :

- Talent Acquisition

- Compensation & Benefits and HR operations.

- Talent Management and Organizational Development

- Learning and development.

- HR Business partner

Framework & Boundaries :

- Labour Laws & Company Laws

- Company Policies and Processes

- Talent Management Frameworks set by Group

Relationships :

Subordinates : Daily interaction for updates, reviews and progress

Superiors : Daily interaction for updates, reviews and progress

Others Within the company :

- Need based interaction with all managers for escalations, discussions, information sharing

- Need based interaction with Group HR team representatives for project coordination

- Need based interaction with all employees

Outside the company : Payroll, compliance vendors and service providers

Person Specifications :

Education Essential : Graduate in any stream

Desirable : MBA with a specialization in HR

Work Qualifications Essential : PG in HR, Labour Laws, Compensation & Benefits training certification

Desirable : Relevant certifications

Experience Essential : 6 years of experience in handling compensation & benefits.

- Minimum 10 years of experience in HR with a mid to large size organization

Knowledge Essential : Knowledge of statutory compliances, government policies etc.

Desirable : Job evaluation, compensation bench marking etc.

Skills & Abilities Essential :

- Excellent verbal and written communication skills including advanced presentation, consulting and interpersonal skills.

- Established analytical, statistical and problem solving skills along with process orientation & outstanding eye to detail.

- Strong knowledge of compensation and benefits principles, practices and regulatory & statutory requirements.

- Advanced computer skills including proficiency in MS Excel, PowerPoint, and Word.

- Strong service orientation with a high sense of ownership and accountability

- Exceptional time management skills and ability to handle multiple assignments in a time sensitive environment.

- Ability to plan and implement projects

- Ability to work against timelines effectively

- Negotiation skills

Women-friendly workplace:

Maternity and Paternity Benefits

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