Head - Compensation & Benefits/Total Rewards/Talent Management - BFSI (15-20 yrs)

4 weeks ago

Mumbai, Maharashtra, India iimjobs Full time
Head - Compensation & Benefits, Total Rewards, Talent Management


Description - Our Client, a Leading Financial Service Firm is looking to hire a Leadership candidate to Head - Compensation & Benefits, Talent Management & Performance Management Functions.


Client Details :
They are a leading Financial Services firm Headquartered in Mumbai.

Description :

Rewards strategy:

  • Propose formulation of talent & rewards philosophy/ strategy aligned with performance driven culture aligned with the key tenets of business strategy.
  • Conceptualize models for annual rewards review, propose changes in variable pay/ bonus model /incentive schemes in alignment with business strategy/ budget.
  • Review and ensure equitable compensation aligned to roles for new talent acquisition / at the time of salary review process.
  • Conceptualize and drive implementation of employee recognition processes at company (providing adequate governance and business level flexibility), ensure its strong linkage to right behavior aligned with focus of business strategy.
  • Periodic review of employee benefits, introduction of new benefit offerings to employees

Talent management:

  • Design and drive talent management initiatives evaluation, competency framework, design of rolebased organization and structure etc.) to support business needs.
  • Conceptualize and plan initiatives to build healthy leadership / succession pipeline for critical roles, and work with HR business partner team / business & function heads to drive and implement actions.
  • Design/ drive programs and frameworks to ensure diversity and inclusion of talent at company.

Performance management and engagement:

  • Identify/ refine performance philosophy of the company, and monitor/ review performance management implementation across business/ function verticals.
  • Scan industry best practices, review applicability in company's context, identify/ recommend areas to change process.
  • Plan and drive implementation of initiatives to build managers capability performance management / continuous development of their team / focused feedback to enhance outcome effectiveness.
  • Review employee feedback (via satisfaction surveys/ other mechanisms/ metrics), and plan critical initiatives to improve employee engagement and reduce attrition (with a special focus on especially new joiners given high attrition in the GI Industry)
  • Planning and Productivity Review + HR Analytics
  • Lead breakdown of employee expense budget; Lead manpower budgeting conducted during AOP phase including headcount, grade allocation, location allocation, asset allocation, workstation allocation.
  • Partner with Finance to conduct budgeting for the organization (from a bottom line headcount expenses perspective)
  • Conduct monthly and quarterly review of incentive payouts with function heads.
  • Guide team to conduct monitoring of key parameters including productivity, attrition, overall expenses, incentives, hiring and other indices; draw inferences and engage with business teams to implement course corrections.

Audit and compliance:

  • Design and maintain processes with adequate risk controls.
  • Provide all required information during functional audit, review audit findings and plan actions with
team to plug gaps (if any)

  • Team development
  • Participate in selection process to identify right talent for positions within talent and rewards department.
  • Effectively engage team and provide guidance/ support for professional development of team members to ensure productivity enhancement of talent

Profile:

  • Minimum 15+ years of experience in HR domain with majority of experience in managing Compensation & Benefits.
  • Candidate must be currently working in the BFSI sector or should have worked in the past for atleast 5 to 7 years.
  • Prior experience of having handled talent & rewards management portfolio
  • Experience of driving/ implementation of large HR transformation initiatives
  • Exposure to talent nuances in large and mid-size organizations
  • Day working

Job Offer:

  • Opportunity to work with a leading Financial Services Company.
  • Opportunity to Head C&B, TM & Performance Management Function.

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