Manager-Compensation and Benefits

2 months ago

bangalore, India Ujjivan Small Finance Bank Full time

ROLE PURPOSE & OBJECTIVE:

This role is required since is critical to the for design and deployment of various compensation programs to drive organizational performance
The compensation programs will contribute to the retention of employees and a competitive workplace.
This role will also help project the brand and reputation of the organization by benchmarking compensation practices, governance and building employee experience.

KEY DUTIES & RESPONSIBILITIES OF THE ROLE:

Equity Compensation Management:

Participate in Equity compensation scheme designs for the bank under the guidance of the National Manager for Total Rewards, Performance Management and Shared services
Manage pool availability and allocation
Evaluate affordability of grants using established methods of actuarial valuation to understand the impact of the planned grants on Bank’s P&L
Coordinate allotment of employee exercises within SEBI specified timelines in partnership with the Company Secretarial teams
Calculation and submission of perquisite details to taxation and payroll team post allotment
Lead strategic/ key initiatives within the compensation practice or outside, as assigned

HR Budgeting, Expense Tracking, Variance Analysis, provisioning
Support business, finance and HR teams in creating measures and models to manage people costs
Coordination of the budgeting exercise for the HR function including Manpower costing and HR Expenses budgeting
Disseminate finalized, approved budgets to relevant stakeholders
Prepare Budget Vs Actual variance of the expenses incurred month on month in coordination with the F&A team and collate responses from stakeholders within HR, for the variance
Prepare and publish HR expense analysis to stakeholders
Collate and submit provisioning, analyze impact of provisioning on of HR expenses
Responsible for design, review and rollout of various dashboards for eg HR Scorecard.

Innovation & Learning

Update and stay abreast with changes in the labour laws framework in the country as well as industry trends, company policies, systems etc and resulting changes in the compensation frameworks
Develop targeted education programs and communication material on compensation offerings and educate employees
Educate leaders, supervisors on application of compensation policies.
Drives all team related activities such as goal setting, driving productivity, coaching and development.
Connect and establish networks with industry peers and bodies.

Educational/Qualifications:
Graduate or Post Graduate in Human Resources

Experience:
8-12 years’ experience (at least 6 years in compensation design, analyses, socialization and support of compensation management in Banks)

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