Compensation Specialist

1 week ago

Mumbai, Maharashtra, India YES BANK Full time ₹ 12,00,000 - ₹ 36,00,000 per year

Core Responsibilities

  • Manage major Compensation processes like the Bank's Annual Compensation Review and the preceding Wage Cost budgeting
  • Partner with Consultants like Aon / Deloitte in their annual surveys to gather market intelligence and benchmarking data
  • Design executive compensation structures and the associated LTI program. Track the roll out of instruments like ESOPs / RSUs
  • Support in designing and iteration of Total Reward policy of the Bank in line with prudent risk management principles
  • Liaise with Payroll and Finance teams to ensure that Compensation data related to MD&CEO / Board of Directors is correctly captured in statutory reports
  • Strive for automation of compensation processes and reporting. Partner with HR System / Technology team to fully leverage the HRIS to meet system requirements
  • Align the compensation process to contemporary market trends and enable it to be competitive with peer organizations
  • Analyze Hiring compensation levels, Pay equity, Wage cost thresholds for gaps and discrepancies
  • Draft responses for queries raised by Bank's Internal Audit/Compliance team as well as well as external regulatory bodies like RBI
  • Train HR Business Partners and other HR central teams on compensation management programs and policy changes
  • Prepare annual calendar of key actions for the Compensation team and ensure timely closure

Qualifications

  • MBA HR from reputed institutes will be preferred
  • 3-5 years of relevant work experience in compensation management role in large organizations, preferably from Banking
  • Proficient in MS Office (Excel, Power point, Word)
  • Understanding of Advanced Excel or Power BI or Tableau
  • Aware of trending compensation concepts
  • Excellent written and verbal communication
  • Adept at tactfully managing stakeholders and maintaining confidentiality

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