Our client, a Leading Private Bank is looking out for a Compensation & Benefits Partner 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 2 years of hands-on experience in C&B, with strong analytical capabilities and exposure to HR systems and statutory compliance.
Key Responsibilities
1. 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.
- Manage the Performance Management cycles, increments and promotions with continuous discussions and engagement with the business stakeholders
- Manage Job-sizing, ESOPS and RSUs etc
2. 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.
3. 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.
4. 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.
5. 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 premium institute
- Experience: 2+ 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
