Lead- HR Operations, Compliance and Governance

3 hours ago

Mumbai Metropolitan Region, IN Magma General Insurance Limited Full time

Department: Human ResourcesTotal Work Experience: 15+ yearsEducation: MBA HR OR equivalent qualificationDuties and responsibilities:-Compensation & Benefits – Design and implement compensation strategies that align with the company's business goals.Manage the company's benefits program to ensure competitiveness in the market.Desing and implement long term and short-term incentive plans.Collaborate with senior management and stakeholders to develop a strategic compensation plan that aligns with the organization's objectives and values.Ensure regulatory compliance regarding compensation and benefits.Provide advice to management on pay decisions, policy development, and job evaluation.Develop a consistent compensation philosophy in line with work culture and organizational objectives.HR Operations & Payroll – Ensure accurate and timely processing of payroll for employees ensuring compliance with statutory guidelines.Drive HR operations for the organization, ensuring a smooth and efficient service that meets the needs of the business.Develop and implement HR strategies and initiatives aligned with the overall business strategy.Bridge management and employee relations by addressing demands, grievances, or other issues.Nurture a positive working environment by maintaining a keen understanding of overall morale and promoting a company culture that encourages top performance and high morale.ESOP computation and implementation.Front ending any Regulatory requirements.Ensuring the Implementation of All HR Policies and Processes.Managing Incentive Calculations and BonusesHR Compliance –Managing All HR Compliance MattersDevelop and maintain HR compliance policies and procedures.Conduct regular audits of HR processes. Ensure adherence to employment laws. Investigate and resolve compliance-related complaints or violations.Maintain records of compliance activities and reporting.Collaborate with legal and risk teams on regulatory updates.Performance Management – Track completion rates and analyze performance data.Improve systems and ensure process consistency. Specialized skills and competencies:-Bachelor's degree in business, HR, or a related field (MBA preferred).Minimum of 15 years of experience in compensation, benefits, compliance, and HR analytics.Strong analytical skills with expertise in data visualization tools and techniques.Knowledge of regulatory frameworks and compliance standards in the insurance sector.Compensation & Benefits: Incentive design, market benchmarking, ESOPs, C&B compliance.HR Operations & Payroll: Payroll accuracy, HRIS, policy implementation, grievance handling.Compliance & Governance: Labor law adherence, audits, regulatory reporting, risk collaboration.Performance Management: Goal setting, review cycles, calibration, data-driven insights.Leadership & Strategy: Stakeholder management, culture building.Analytics & Tools: HR metrics, Excel, Power BI, data visualization.

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