Compensation Specialist

8 hours ago

Gurgaon, Haryana, India IIFL Finance Full time ₹ 15,00,000 - ₹ 25,00,000 per year

Compensation Specialist - IIFL Home Loans

Job Purpose: The role bearer is responsible for designing, implementing, and maintaining the companys compensation structures and policies. The focus is on ensuring fairness, compliance, and competitiveness in pay, while aligning compensation practices with business objectives and regulatory norms in the NBFC/home loans industry.

Key Responsibilities

  • Support design and administration of salary structures, incentive schemes, and variable pay programs for both business and support teams.
  • Conduct internal parity checks and external benchmarking to ensure competitive compensation practices.
  • Manage incentive calculations for sales/collections and other business team teams, ensuring accuracy, transparency, and timely payouts.
  • Partner with business leaders to design short and long-term performance-linked pay schemes aligned with productivity and portfolio quality (disbursements, collections, delinquency, etc.).
  • Work with Finance to track compensation budgets and ensure alignment with organizational cost frameworks.
  • Analyze compensation data, prepare MIS dashboards, and provide insights for salary adjustments and pay policies.
  • Handle annual compensation review cycles, grade corrections, and related employee communication.
  • Support job evaluations, salary reviews, and promotion processes with data-driven insights.
  • Support special projects related to compensation, such as annual manpower budget planning.
  • Manage compensation system tools and databases, ensuring data accuracy & confidentiality, and compliance to legal & regulatory requirements.

Required Experience & Skills

  • 3 to 6 years of experience in compensation & benefits, preferably in BFSI/NBFC sector.
  • Hands-on experience with salary structure design, market pricing/benchmarking, job. evaluation and compensation survey tools (e.g., Mercer, Radford, Willis Towers Watson)
  • Hands-on experience in incentive design for sales/collections teams will be an advantage
  • High proficiency in Excel/data analysis.
  • Strong financial acumen, analytical and quantitative skills.
  • Knowledge of labor laws and regulations related to compensation.

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