Job Description

Compensation & Benefits Partner

Job highlights
MBA/PGDM in HR with 8+ years of HR experience focused on Compensation & Benefits in banking or financial services

Drive reward agenda, manage compensation planning, and ensure compliance with regulatory guidelines
Job match score

Early Applicant

Key Skills

Location

Work Experience

3 – 8 Years

1 Vacancy

₹ 20-35 Lacs P.A

Mumbai (All Areas)
Must have key skills
Compensation And Benefits
Other key skills
Salary Benchmarking,Compensation Benchmarking,Rewards And Recognition,Compensation,Rewards,Total Rewards,Benchmarking,Benefits,Job Evaluation
Job description
What you’ll do
The C&B Partner will be responsible for driving and managing the reward agenda for designated business verticals of the Bank. Acting as the central point of contact for all compensation and benefits matters, the role will focus on aligning reward programs with business objectives, ensuring internal equity, external competitiveness, and compliance with regulatory guidelines. The role will also play a key part in job evaluation, salary fitments, reward analytics, and performance-linked pay design to support talent attraction, retention, and motivation.

Key Responsibilities

1. Reward Strategy & Business Partnership

Partner with business leaders and HR Business Partners to design and implement reward solutions aligned with business strategy.
Act as a trusted advisor on compensation and benefits matters for assigned business verticals.
Ensure reward practices drive employee performance, engagement, and retention.
2. Compensation Management

Manage annual compensation planning cycles including salary reviews, promotions, and bonus processes.
Conduct job evaluations using standard methodologies (e.g., Mercer, Hay) and ensure proper job leveling across functions.
Provide recommendations on salary fitments for new hires, role changes, and internal transfers.
Benchmark compensation structures against market practices and recommend competitive positioning.
3. Performance-Linked Pay & Incentive Design

Support the design and implementation of performance-linked pay programs.
Partner with business leaders to structure incentive plans aligned with performance and regulatory requirements.
Monitor effectiveness of pay-for-performance frameworks and recommend improvements.
4. Reward Analytics & Insights

Deliver data-driven insights through compensation analytics, dashboards, and reports for leadership decision-making.
Conduct internal equity analysis and ensure compliance with pay parity and regulatory guidelines.
Monitor reward cost implications and contribute to workforce budgeting exercises.
5. Governance & Compliance

Ensure all compensation practices comply with internal governance standards and external regulatory requirements.
Support audits, compliance checks, and reporting requirements for compensation.
Maintain accurate documentation of job evaluations, pay decisions, and incentive structures.

Qualifications & Experience

MBA/PGDM in HR, or equivalent professional qualification.
38 years of progressive HR experience with a strong focus on Compensation & Benefits.
Prior experience in the banking/financial services sector or large multinational organizations preferred.
Strong understanding of job evaluation methodologies, compensation surveys, and market benchmarking.
Proficiency in HR systems, data analytics, and advanced Excel/Power BI skills.
Industry type
Banking
Department
Human Resources
Role
Compensation & Benefits – Other
Role category
Compensation & Benefits
Employment type
Full Time, Permanent
Education
, MBA/PGDM in Any Specialization

About company
Client of RiverForest Connections.