Specialist - Compensation & Benefit - BFS (3-6 yrs) - Chennai, India - iimjobs

Description

Plan, design, implement and administer comprehensive rewards strategies and programs for the bank in line with the bank's philosophy and compliance framework.

• Help identify compensation trends and bestinclass practices and policies to ensure organization's competitive advantage
• Provide analysis driven inputs to leadership on all compensation related matters and recommend changes appropriately.
• Work closely with Business HR Leads on employee feedback and to understand impact of comp reviews and benefits.
• Regularly evaluate compensation structure and policies are in compliance with regulatory guidelines and frameworks.
• Participate in annual benchmarking surveys, analyze results and publish reports for senior management
• Assist in the development of effective communication that enhances the understanding and value of compensation programs of the bank.
• Engage with Business HR Leads to help design various reward programs for the bank across roles, levels and functions.
• Design and support annual compensation review process covering annual increments, performance based payments, longterm incentive programs etc.
• Design and manage long term incentives programs of the Bank (ESOP, Deferred Cash, etc.)
• Support in design and implement Executive compensation.
• Evaluate and design new employee benefits program.
• Responsible for yearly renewals of insurance programs (Medical Insurance and Life Insurance)