Vice President - Compensation & Benefit - Insurance - IIM/XLRI/TISS/SCMHRD

Vice President - Compensation & Benefit for a leading Insurance company based at Gurgaon.

Job Summary :

Responsible for the design, implementation, and ongoing evaluation of the organization's compensation and benefits programs, including base pay, incentive pay, health and welfare benefits, and retirement benefits. Works with senior management to ensure that compensation and benefits programs support the organization's business objectives and meet all legal requirements. Develops compensation and benefits budget for assigned areas and manages budget after it is approved.

Job Location : Corporate HQ, Gurgaon

Education : Post Graduate ( HR ) from a Premier/ Reputed Institute

CTC : Best in Industry

Reporting To : Head - COE

Department : Human Resources

Exp : 12+ yrs

Nature of the Role : Team Handling

Working Timings : 9 am onwards, 5 days working

Key Responsibilities/ Key Deliverable :

Compensation :

- Implement Incentive schemes for various channels Compensation administration during increments and bonus cycle

- Primary checks on data

- Ensure timely payouts as per the process

- Streamlining and managing the promotion Process

- Work closely with patch owners & business HR to streamline the monthly promotion process

- Work closely with business HR and co-create career progression plans

- Responsible for Compensation Town Hall Presentation

Performance Management :

- Facilitate goal setting process for all levels:

- Finalise goal sheet templates for all positions & channels

- Timely uploading of templates on the system

- Implement Performance Management Plan for the organisation:

- Analysis of PMS data through prescribed sanity check

- Resolution of employee queries from all patches

- Coordinate with IT to ensure smooth functioning of system

- Revisit goal sheet templates to ensure alignment with business.

- Senior Leadership Team

- Responsible for projects related to Seniors

- Leadership Team such as : Developments Plans/ Performance Management/ Comp revision and Bonus Letters.

Cost Management :

- In partnership with Finance prepare monthly dashboard

- Track key projects aligned with cost savings areas identified

- Share MIS / dashboard with HRLT and business HR

- Summary dashboards for key business heads

- Annual manpower planning

- Partner with business HR to create the annual budget including manpower requirement and associated costs

- Provide regular dashboards to track plan vs actual

- Ensure that all hiring etc is within agreed budget

- Measures of Success

- Timeliness of process steps and completion

- Accuracy of data and analytics

- Feedback from stakeholders

- Cost- budget vs actual

- Cost - monthly dashboards

Board Presentations:

- Ensuring all the data points and details are submitted to board on time in form of structured PPT

- Overall responsibility of conducting NRC (Nomination and Remuneration Committee) every quarter

Recognition :

Lead the formulation of reward recognition and benefits strategies aligned business needs and develop and manage related policy and procedures and systems.

Knowledge & Skill Matrix :

- Highly commercial and able to align reward policy to business objectives

- Experience of managing a team of people

- Excellent project management skills

- A very high degree of analytical skills

- Advanced Excel skills including pivot tables

- Strong and proven analytical skills

- Excellent MS Office skills (MS Excel, MS PowerPoint)

- Excellent Communication skills

- Networking and Influencing skills

- Strong Negotiation skills

- Strong Time Management skills

- Self-management skills

- Ability to work under pressure and tough deadlines

- Team Player

If the above role excites you, Kindly share your updated Photo Word (Doc) resume with the below mentioned details :

- Current Residence Location :

- Open to relocate, if yes, pls share reason. :

- Education Qualification with College :

- Is your Post Grad Regular :

- Total Experience :

- Industries worked in :

- Exp in C&B ( yrs) :

- Regions Handled :

- Exp in Making Board Presentations in current role :

- Handling Senior Leadership Compensation in current role :

- Exp in Rewards Strategy ( yrs) :

- Current Employee strength of the Organization :

- Current Direct Reportees on papers :

- HRIS software used :

- Certifications if any :

- Current Company :

- Current Designation ( yrs) :

- Reporting to :

- Hierarchy in Current Organization :

- Current CTC (Fixed + Variable) :

- Expected CTC :

- DOB & Age :

- Official Notice Period :

- Earliest Joining you can manage ( Leaves, Buyout option etc) :

- Gaps in Career / education If any :

Ruchika
Team Workoid