Dy. Manager/ Manager - Compensation & Benefits - Bank

Deputy Manager / Manager – Compensation & Benefits

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.

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 recognized institute

• Experience

  : 3+ 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