Head - HR Operations, Compliance and Governance

4 days ago

Mumbai Metropolitan Region, India Magma General Insurance Limited Full time ₹ 15,00,000 - ₹ 30,00,000 per year

Department: Human Resources

Total Work Experience: 15+ years

Education:
MBA HR OR equivalent qualification

Duties 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 Bonuses

HR 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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