Senior Compensation Specialist

Core Responsibilities

• Awareness of market best practices and relevant market intelligence on compensation programs, enabling Bank’s compensation program to remain contemporary and relevant
• Present to CHRO and Business Leaders at the onset of key compensation programs during Mid-year and Year-end
• Formulate guidelines for the Bank’s Annual Compensation Review and the preceding Wage Cost budgeting basis Bank’s HR strategy and Staff OPEX targets
• Design executive compensation structures and oversee LTI program of ESOPs / RSUs
• Ownership of the Total Reward policy and practices of the Bank (for ~30,000 employees) along with representation at various internal and external forums
• Create MD&CEO / Executive Directors / Leadership compensation proposals for the Board of Directors approval
• Strive for automation of compensation processes and reporting. Partner with HR System / Technology team to fully leverage the HRIS to meet system requirements
• Analyze Hiring compensation levels, Pay equity, Wage cost thresholds for gaps and discrepancies
• Resolve issues or anomalies raised by Bank’s Internal Audit / Compliance team as well as well as external regulatory bodies like RBI
• Maintain cordial relations with HR Business Partners / other HR central teams and guide them on compensation management programs and policy changes
  

Key Interactions

CHRO / CXOs -

HR leaders -

HR Tech/HR Ops -

Finance -

Payroll -

Audit/Compliance -

Vendors -

Qualifications

• MBA (Full Time) preferred / Graduate with relevant experience of 8-15 years
• Understanding of key concepts of Compensation & Rewards in large organizations, preferably in Banks or BFSI
• Proficient in MS Office (Excel, Power point, Word)
• Understanding of Advanced Excel or Power BI or Tableau
• Excellent written and verbal communication
• Adept at tactfully managing stakeholders and maintaining confidentiality