Total Rewards Manager

2 weeks ago

Navi Mumbai, Maharashtra, India Universal Sompo General Insurance Co. Ltd. Full time

Job Title: Total Rewards Manager

Location: Airoli

Role Summary:

We are looking for a passionate and analytical Total Rewards professional to join our People, Culture & Capability Team. The role will support the design, execution, and governance of compensation and benefits programs, ensuring alignment with Universal Sompo's people strategy, regulatory guidelines, and market benchmarks. This role offers the opportunity to work closely with senior leadership and contribute to shaping the organization's rewards philosophy.

Key Responsibilities:

1. Compensation Management:

  • Support annual compensation review cycles (merit increases, bonuses, and promotions).
  • Conduct market benchmarking and salary survey participation.
  • Analyse internal compensation data and provide insights for pay parity and competitiveness.
  • Support development of salary structures, pay ranges, and job evaluations.
  • Support in monthly payroll activities
  • Ensure compliance with statutory benefits. E.g. PF, PT, ESIC, LWF

2. Benefits & Wellness:

  • Assist in designing and managing employee benefits programs (insurance, wellness, retirement).
  • Evaluate benefit vendors and ensure cost-efficiency and employee satisfaction
  • Support in execution and awareness of wellness campaigns and employee communication
  • Assist in finalizing insurer for GHI, GPA and GTL

3. Performance & Rewards Analytics:

  • Maintain dashboards and provide insights on compensation, attrition, performance vs. rewards.
  • Work closely with BPs to provide customized solutions based on business needs.

4. Compliance & Governance:

  • Ensure reward practices comply with internal policies and IRDAI/SEBI regulations.
  • Prepare materials for NRC and Board presentations related to rewards, if required.
  • Support in compensation disclosures and audit-related activities.
  • Assist in closure of notices from Labour department

5. Special Projects:

  • Assist in rollout of new Total Rewards programs and technology implementations.
  • Participate in organizational design, career level framework, and EVP building initiatives.

Required Qualifications & Experience:

  • MBA/PGDM in HR or related field.
  • 3–6 years of relevant experience in Total Rewards, C&B, or HR Analytics.
  • Strong Excel and PowerPoint skills
  • Working knowledge of regulatory guidelines (IRDAI/SEBI/Companies Act) is desirable.
  • Ability to manage multiple stakeholders and deliver high-quality outputs.

Key Competencies:

  • Analytical mindset with strong attention to detail.
  • High integrity and ability to handle confidential data.
  • Stakeholder management and communication skills.
  • Passion for data-driven HR and continuous improvement.

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