Compensation & Benefits Partner - Bank

4 weeks ago

New Delhi, India Exceed Consulting Full time

Our client, a Leading Private Bank is looking out for a Compensation & Benefits Partner to support the development and administration of our compensation structures and benefits programs to be based at Mumbai. The ideal candidate will have at least 2 years of hands-on experience in C&B, with strong analytical capabilities and exposure to HR systems and statutory compliance.Key Responsibilities1. Compensation Management- Assist in the design and implementation of compensation structures including salary benchmarking, pay bands, and internal equity. - Support annual salary review processes, including budgeting, increment planning, and bonus payouts. - Work with external consultants to participate in salary surveys. - Conduct job evaluations and contribute to role grading processes. - Manage the Performance Management cycles, increments and promotions with continuous discussions and engagement with the business stakeholders - ·Manage Job-sizing, ESOPS and RSUs etc2. Benefits Administration- Administer employee benefits including medical insurance, wellness programs, and statutory benefits (PF, ESIC, Gratuity). - Liaise with vendors, insurance providers, and internal teams to ensure smooth delivery of benefits. - Handle employee queries related to compensation and benefits.3. Analytics & Reporting- Prepare regular reports and dashboards on compensation costs, headcount, attrition, and benefits utilization. - Conduct internal pay benchmarking to support decisions on promotions, transfers, and new hires.4. Compliance & Audits- Ensure compliance with local labor laws related to compensation and employee benefits. - Maintain data accuracy and audit-readiness for compensation and payroll records.5. HR Systems & Projects- Support implementation and maintenance of HRIS or compensation tools (e.g., SAP SuccessFactors, Workday). - Contribute to process improvement projects related to compensation workflows.Qualifications & Skills- Education: MBA / PGDM in HR or related field from a premium institute - Experience: 2+ years of relevant experience in Compensation & Benefits or broader HR roles with a C&B focus - Strong Excel and data analysis skills; familiarity with dashboards and HR analytics - Good understanding of Indian labor laws (PF, Gratuity, Bonus Act, etc.) - Excellent interpersonal and communication skills - Detail-oriented and able to handle sensitive data with confidentiality

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