Compensation Specialist

About Company 

Yes Bank is an Indian bank headquartered in Mumbai, India. It offers wide range of differentiated products for corporate and retail customers through retail banking and asset management services.

Job Role: COMPENSATION SPECIALIST

Job Purpose:

The role holder is responsible for managing and supporting implementation of Bank’s Compensation programs

Key Roles & 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