Compensation Analyst

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Job Summary:

The Compensation Analyst will support the planning, execution, and continuous enhancement of the Bank’s compensation, benefits, and rewards framework. The role is project-intensive and requires a strong analytical foundation, stakeholder management skills, and the ability to drive outcomes in a fast-paced and evolving environment.

Key Responsibilities & KRAs:

·        ⁠Manage the annual insurance renewal process life cycle for all employee related insurance by working closely with brokers and insurers to ensure enhanced employee benefits at competitive prices; Work with HR Business Partners to drive voluntary benefits.

·        ⁠Collect and analyse market benchmark data on compensation and benefits through both primary and secondary sources; Provide recommendations based on insights; Formulate the benefits strategy of the Bank by tracking utilization trends, market benchmarks, internal pulse surveys etc.

·        ⁠Design and maintain internal pay ranges/hiring grids and actively partner with TA teams on recruitment policy at all levels including campus hiring

·        ⁠Work on enhancing the variable pay practices of the Bank including both short term and long-term incentives of the Bank

·        ⁠Conceptualize and implement compensation, benefits and PMS related assignments/projects from time to time

Preferred Candidate Profile:

• Experience:

  3–5 years post MBA (preferably from a B-school with HR specialization).

• Background:

  Total Rewards / Compensation & Benefits; BFSI sector experience is a plus.

• Skills:

  Strong analytical mindset, project execution, stakeholder engagement, policy design, and benchmarking.

• Traits:

  Comfort with ambiguity, self-driven, strong execution orientation.

• Certifications:

  Total Rewards / Compensation-related certifications will be an added advantage.