Compensation & Benefits Partner - Bank
ConfidentialMumbai, India19 days ago
Job descriptionAdminister 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. 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. Ensure compliance with local labor laws related to compensation and employee benefits. Maintain data accuracy and audit-readiness for compensation and payroll records. Support implementation and maintenance of HRIS or compensation tools (e.g., SAP SuccessFactors, Workday). Contribute to process improvement projects related to compensation workflows. 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
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
3. Analytics & Reporting
4. Compliance & Audits
5. HR Systems & Projects
Qualifications & Skills
Skills Required
Benefits Administration, Sap Successfactors, Compensation Management, Hris, Data Analysis, Excel, Workday, Hr Analytics
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Compensation Benefit • Mumbai, India
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