Compensation & Benefits Partner - Bank

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