Maharashtra

Role/Job Title: Lead-Rewards
Business: Corporate Function
Function/ Department: Human Resource
Place of work: 'Mumbai- Corporate Office

Roles & Responsibilities:

'The Primary Responsibility is to manage Rewards for a set of business & function units, which will include designing & reviewing Compensation structures, benefit programs, Primary and Secondary Benchmarking compensation and benefit practices.
• Design and Drive Performance Management for the New age businesses.
• Responsible for Digital Transformation of the processes.
• Design Long Term and Short term Variable Pay Plans, Retention Plans.
• Develop analytics to evaluate efficiency of various reward programs. Design Dash boards for Leadership
• Define and review skill based compensation ranges for all roles within the Bank.
• Review organization structures and Job Descriptions to determine the values of each role and ensure Bank is competitively positioned. Collaborate with the Talent Acquisition teams to define Hiring grids, Trend Analysis, Mid-point movements.
• Evaluate the compensation landscape to understand and learn from best practices through benchmarking and industry research and employment trends, track legislation and make recommendations.
• Support all compensation planning processes in collaboration with HR Operations.
• Support the development and integration of new and existing reward programs, policies and procedures to ensure that programs are market competitive, internally equitable and cost effective.
• Determine and implement metrics that assess and monitor the effectiveness of ongoing Reward Programs and new initiatives.
• Design Analytics and Dash boards for Rewards program, Performance Management & Variable pay - productivity programs. Program design, deployment and implementation of best in class frameworks.

Secondary Responsibilities:

Communicate actively with Accounting, Finance, Operations, HR and other departments to review cross-functional impact and data sharing
Ensure compliance on Reward related matter.
Policy analysis, development, formulation and implementation.

Key Success Metrics:

'- Successful completion of projects/ special projects within the timelines
- Best in the industry - Performance Management Process
- Employee engagement with respect to Reward Programs
- Compliance reports