Head - HR Operations, Compliance and Governance

3 days ago


Mumbai, India 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 Matters- Develop 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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