Our client is a major multinational bank, part of a leading financial group, offering comprehensive financial services like corporate/retail banking, loans, investment, and digital solutions globally, known for its international presence and serving individuals, SMEs, and large corporations through branches and online platforms. It provides extensive services, from cash management and trade finance to asset management, and plays a significant role in global finance.
Role / Position:
The profile is that of the HR Rewards Specialist wherein the incumbent will be managing the Rewards for the entire client organization. The candidate will be responsible for handling Performance Appraisal, Compensation, Benefits and Job Evaluation exercise.
Location: Financial District, Mumbai, India
Reporting: The role reports to the Head Rewards.
Indicative Job Responsibilities
1. Anchor the end to end year end performance appraisal process management
2. Manage the post appraisal PIP Process
3. Facilitate timely Compensation Benchmarking through vendor partner
4. Facilitate Benefits Benchmarking
5. Enable introduction of industry prevalent benefits post approval processing
6. Manage Benefits administration – Insurance renewals, policies revamp, employee health and wellness programmes
7. Policy formulation, approval processing and post approval implementation
8. Anchor HR procedure manual updation
9. Job Evaluation – support the regional initiative and build in house capability on the same
10. JDs collation
11. Enable periodic review and update of JDs by the line managers
12. Anchor Assignment & Authority (A&A;) collation
13. Facilitate A&A; updation after promotions and transfers
Knowledge, Skills, Experience & Qualifications
Knowledge
- Core knowledge of compensation & benefits principles, policies, models, structures, and administration.
- Familiarity with HR Laws, Legal & Compliance, Data & Systems for C&B;
Skills
- Strong command over MS PowerPoint and Excel
- Solid analytical,
data interpretation, and problem-solving skills.
- Excellent communication & negotiation skills
- Excellent interpersonal skills
- Ability to work alone and be able to cope under strenuous situations
- Demonstrating high levels of energy in problem solving
- Detail-oriented with high integrity.
- Efficient time management
Experience
- Must have at least 6-12 years of experience in HR years in designing and administering competitive total rewards, conducting market analysis for salaries/benefits, ensuring legal compliance, managing benefit programs (health, retirement, etc.), analyzing data for decisions, and collaborating with HR/leadership to attract/retain talent.
- Must have proven experience of managing of end to end performance cycle including ratings, promotion, annual increments, annual bonuses, normalization, budget preparation
- Must have proven experience of designing short term and long term incentive plans
- Must have proven experience of designing executive / board level compensation plans
- Must have proven experience with Indian compensation & labor laws
- Must have run at least 3-4 increment and incentive cycle.
- Must have updated job requirements, job descriptions and organization structures
- Must have participated in benchmarking surveys
- Must have experience on HR Analytics such as creating salary ranges, salary analysis, developing dynamic dashboards to provide insights into C&B; data
- Must have ability to review existing C&B; and HR practices to ensure compliance and adopt best practices
- Must have experience of developing policies and procedures for C&B; and of bringing in efficiencies and streamlining C&B; processes
- Good to have BFSI experience
- Good to have experience in project management and budgeting
- Prior experience of working with banking institutions and/or consulting organizations will be preferred.
Qualifications
- MBA/PGDM in HR from a premier institute
Interested? Please submit your resume and cover letter to
[email protected] for a discussion.
📌 Rewards Specialist (Mumbai)
🏢 Etaash Consultants
📍 Mumbai