Compensation Specialist

Compensation Specialist - IIFL Home Loans

Job Purpose:

Key Responsibilities

• Support design and administration of salary structures, incentive schemes, and variable pay programs for both business and support teams.
• Conduct internal parity checks and external benchmarking to ensure competitive compensation practices.
• Manage incentive calculations for sales/collections and other business team teams, ensuring accuracy, transparency, and timely payouts.
• Partner with business leaders to design short and long-term performance-linked pay schemes aligned with productivity and portfolio quality (disbursements, collections, delinquency, etc.).
• Work with Finance to track compensation budgets and ensure alignment with organizational cost frameworks.
• Analyze compensation data, prepare MIS dashboards, and provide insights for salary adjustments and pay policies.
• Handle annual compensation review cycles, grade corrections, and related employee communication.
• Support job evaluations, salary reviews, and promotion processes with data-driven insights.
• Support special projects related to compensation, such as annual manpower budget planning.
• Manage compensation system tools and databases, ensuring data accuracy & confidentiality, and compliance to legal & regulatory requirements.

Required Experience & Skills

• 3 to 6 years of experience in compensation & benefits, preferably in BFSI/NBFC sector.
• Hands-on experience with salary structure design, market pricing/benchmarking, job. evaluation and compensation survey tools (e.g., Mercer, Radford, Willis Towers Watson)
• Hands-on experience in incentive design for sales/collections teams will be an advantage
• High proficiency in Excel/data analysis.
• Strong financial acumen, analytical and quantitative skills.
• Knowledge of labor laws and regulations related to compensation.