Compensation Partner

2 weeks ago

Andheri Mumbai Maharashtra, India Ophir Solutions Full time

Job Purpose
To partner with business in understanding requirements pertaining to Total rewards, help in define & develop
reward frameworks and solutions. Frontend market benchmarking and job evaluation exercise with business
for better alignment. Support in annual appraisal process, working closely with business in designing & tracking
sales incentive plans, help in review & redesign of employee policies for Bank
Key Responsibilities
Functional

**Responsibilities**:

- Working with external consultant and internal HRBP team to ensure correct
job matching exercise. Job matches need to be presented and briefed to
Business leaders. Prepare process document of job matches and overall
methodology
- Working closely with external partner, HRBP and Business leaders to
implement Job evaluation framework; Document all JE discussion for future
reference; Prepare Job evaluation process document for all job role for the
Bank
- Existing employee policy review, benefits benchmarking (offline or
consultant driven), Policy review, design, monitoring and governance;
Preparation of Employee policy handbook for the Bank (CTC Staff) and
successful launch of policies and conducting sessions for internal HRBP team;
- Understand Sales incentive framework and policy of the Bank; review
effectiveness of sales incentive program (tracking measures); Reviewing
amendments in sales incentive programs with function head/product heads
and ensure consistency of framework
- Managing GMC, GPA & GLI renewal process (Employee &
Dependents/Top up/Parental) end to end; Review existing plan coverage in
detail and recommend additional plan features, renegotiation with service
providers to have best possible program for the Bank
- Support in annual appraisal exercise. Preparation and maintaining appraisal
working file with market benchmarks, performance parameters in line with
the appraisal and promotion policy of the Bank; Working on simulations to
build various scenarios to understand the overall financial impact on Bank
- Support in Designing offer framework in line with the market benchmarks
and internal parity and share with TA team; Conducting sessions with HRBP
& TA team; Define offer exception scenarios and exception approval within 1
working day (2-3 Working days for Sr. hiring offer exceptions)

**Salary**: Up to ₹2,000,000.00 per year

Schedule:

- Day shift

Supplemental Pay:

- Performance bonus

Ability to commute/relocate:

- Andheri, Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (required)

**Experience**:

- total work: 1 year (preferred)

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