Compensation & Rewards Specialist

Job Description: Compensation & Rewards Specialist – Vivriti Group

About the team and role

This role will be responsible for shaping, managing, and executing organization's C&B strategies and policies for all entities and locations. Develop, execute and communicate an effective Total Rewards Strategy that enables building culture of high performance, employee retention and attraction of talent.

Developing and implementing a compensation strategy that aligns with the company's overall goals and objectives.

This role includes working closely with the Group Head, HR and collaborating with Key Stakeholders in Finance Compliance, Business Strategy Teams, and Management, to design and implement Total Rewards initiatives.

Key responsibilities

Compensation and Rewards:

• Creation, ownership, and implementation of the Compensation and Rewards philosophy in line with the nature and values of the organization.
• Drive the Reward processes such as Annual Salary Increments, Promotions, Bonus payouts, ESOP Grants, etc.
• End-to-end management including design and delivery of pay revision, including compensation benchmarking, pricing framework and approach, executive compensation, and Employee Stock Options (ESOP) philosophy and plans in line with industry trends, regulatory demands, and organization needs.
• Design and delivery of special Rewards programs for specific groups based on the unique nature of Job families, with focus on meaningful engagement and retention to critical Talent.
• Conceptualize models for annual rewards review, propose changes in variable pay/ bonus model /incentive schemes in alignment with business strategy/ budget.
• Continuously evaluate the effectiveness of our C&B programs with the use of data from our listening systems, stakeholder feedback and employee pulse, intel from other HR Teams and fine tune the Rewards offerings to facilitate employee engagement and retention.
• Liaise with external agencies to conduct market assessments / benchmarking and compensation consulting in line with business needs.
• Periodic review of employee benefits, introduction of new benefit offerings to employees/managers to build managers capability performance management / continuous development of their team to enhance outcome effectiveness.
• Design and implement liquidity programs seamlessly.

Talent Operations

• Collaborate with the HR Operations Team to work on connected processes to C&B.
• Liaison with other Functions such as Finance, Compliance, Legal, in relevant areas and produce high quality outcomes through these cross-functional initiatives.
• Ensure all compensation and benefits programs comply with legal requirements and internal policies.
• Prepare and present regular reports on compensation and benefits metrics to senior management.
• Assist in audits and ensure accurate record-keeping for all compensation and benefits data. Collaborate with the HR Ops team to ensure organisation's data sanctity and audit readiness.
• Ensure error-free payroll every month and driver rigour in payroll compliance, reporting, auditing, and taxation along with the HR Ops team.
• Smooth and accurate administration of all C&B programs and activities, such as pay revision, ESOPs and ESOP management platform, taxation, and benefits programs like employee assistance and insurance.
• Own the policies related to the Rewards, conduct helpdesks proactively and be available to support employees with related needs.
• Develop clear and transparent communication strategies to educate employees about compensation structures, benefits options, and HR policies.
• Enhance C&B experience for team members using state-of-the-art digital interface systems and processes.

Workforce Management and People Analytics

• Craft and implement the Headcount and Cost strategy for Organization, in collaboration with the Talent Acquisition team, HR Partners, and business leaders.
• Develop and maintain annual Headcount and Cost forecast and track and reconcile every month.
• Design and evangelise dashboards, databases, insights and metrics for HR in line with the People Analytics roadmap.
• Design innovative rewards programme to enhance the Organization's EVP and instill a Performance culture. Benefits design and roll out in alignment to our compensation philosophy and best practices.
• Track market intelligence/trends, conducting in-depth analysis to generate trends and generate insights on ongoing basis.

What kind of experience and skills do you need for this role?

• 4-8 years of experience in Total Rewards (Should have demonstrated conceptualization, design and implementation expertise).
• Prior experience of working as a Rewards Consultant / C&B Specialist in Tier 1 consulting firms and Rewards / C&B specialist in Corporates.
• An MBA from a Tier 1 or Tier 2 institute with a specialization in HR.
• Experience in job analysis/evaluation, market pricing, C&B policies, year-end annual review cycle etc.
• Industry network and knowledge of regulations, trends, and practices.
• Strong knowledge of and administration of equity-based compensation tools such as ESOPs and comp interventions like retention, guarantees, buy-back etc. Exposure to managing senior level compensation (possibly with some understanding of stock-option plans), regulatory issues etc.
• A reputed certification in Total Rewards/C&B is a plus.
• Ability to work independently in a fast-paced environment and with senior leaders and cross-functional teams.
• Extremely high analytical capability, comfort with numbers, and can use data to inform reward decisions and strategy development, including critical challenge of data. Advance MS Excel skills.
• Good attention to detail to ensure numbers are accurate, and written communications are meaningful and informative. Ability to produce high quality and error free deliverables.

Behavioral characteristics:

• Willingness to go above and beyond.
• Work in high pressure environment, manage multiple priorities within shot timeframes, ability to switch between tasks.
• Capable of very quick turnarounds.
• Persistent through iterations and ability to accept feedback and incorporate quickly
• Align and modify output to expectations of the HR Head and Management
• High self-drive, comfortable with modifications in priorities.
• Stay resilient and not getting discouraged by rejections/not seeing fruits of labour in the immediate term.
• Comfortable with some uncertainty, ability to come up with predictive models, produce output based on assumptions and estimates when the complete picture might not be available. Prepare and strategize for project future scenarios.
• Extra-ordinary work ethic and ability to inspire through exemplary action.

This role involves 30% travel as the role requires the individual to work in close vicinity with the HR Head

Job Location: Chennai

Mode of Work: Work from office

Life at Vivriti:

Technology Team at Vivriti:

Founder's Talk:

Who We Are?

Vivriti is a young, dynamic, and spirited institution that boasts of a large appetite for success through its vision of creating the largest and most valuable platform for enterprise finance. The word 'Vivriti' means progress or development and speaks volumes about our passion to continuously strive for results that add value to our ecosystem. At Vivriti, we are mission driven, challenging the status quo each day, reinventing the Indian debt market space and creating an industry in itself.

Over the last four years, the group that consists of two companies – Vivriti Capital, a unique enterprise fintech NBFC, and Vivriti Asset Management, India's fastest growing digital alternate debt fund manager, has built significantly on its vision. Vivriti presently manages assets in excess of US $ 1.2 billion, has offices in Chennai, Mumbai, and Bangalore, and consists of a high-powered team of 350+.

Why Join Us?

The force driving the business prowess of Vivriti is, the powerful Talent Engine. We are a high energy and supremely passionate bunch of individuals. This is a diverse group of people, who would be best in what they do, are diverse and inclusive, are collaborative and extremely hardworking. Indeed, a very inspiring peer group. This is a team with a shared goal of reshaping the Indian Fixed Income market and change lives of millions of people through our work.

We have a keen eye for great Talent, have an appreciation for potential, and an environment which facilitates hyper-performance. Vivriti is known to present with the platform to excel for those who have a desire to reach great heights in their career. We nurture our Talent with great care, encourage ambition, we are compassionate in your failures and cheer your successes. We're proud of our collaborative culture; everyone is ready to lend a helping hand, whether it's your first day on the job or your thousandth.

Our Rewards mechanisms are aggressive. High Performance fetches non-linear Rewards. In addition to the fixed component and variable pay, we ensure long term wealth creation for our critical employees through employee stock options. Vivriti is the first tech focused NBFC and asset manager that has provided ESOP liquidity in the last 15 years.

We invest in our employees through developmental programs, Professional Development Allowances and Education Grants.

Our Benefits are better than the best. To list a few below –

Medical Care, Life and Personal Accident Insurance, Critical illness cover.

Interest free loans of up to INR 10 Lacs, with no questions asked.

Promoting health and wellness at the office with a well-equipped sports and recreation room, regular fitness challenges and organizing leagues of sports events.

Caring for your health nutritious food, fruits served round the clock, variety of beverages, etc.