Compensation And Benefits Manager_SUPPORT SERVICES_0870_1288_1049468

Kotak Mahindra Bank

Mumbai

On-site

INR 1,200,000 - 1,800,000

Full time

5 days ago

Be an early applicant

A complete application in a minute

Tailored resume and cover letter, ready to send.

Get past ATS filters

Job summary

Kotak Mahindra Bank in Mumbai seeks a seasoned Compensation Analyst to lead benchmarking studies, analyze market data, and support budgeting for annual compensation cycles. The role partners with Business HR to assess needs across verticals and drives job evaluations, compensation bands, and incentive governance.

The incumbent will collaborate with leaders on bonus plans, monitor payout processes, and implement continuous improvements across the PRAISE platform and compensation processes.

Responsibilities

Participate in compensation benchmarking studies through sponsored and forum-based surveys.
Partner with Business HR teams to assess compensation needs across business verticals.
Analyse market data, internal parity, and benchmarking outcomes to support compensation decisions.
Support annual compensation budgeting, simulations, and planning activities.
Collaborate with business teams on compensation proposals, rating normalization, and review processes.
Engage with leadership teams during compensation review discussions.
Drive seamless execution and closure of annual compensation cycles.
Manage off-cycle compensation reviews and retention-related compensation interventions.
Conduct proactive compensation reviews based on internal equity, market positioning, and retention considerations.
Y-O-Y Process Improvement to ensure the PRAISE Process is seamless.
Agile action on Ground level feedback on process points of improvement.
Partaking accountabilities on change in Compensation Philosophy / design
Managing the Tech Platform for PRAISE
Monitor incentive schemes for Business Units in purview and also earnings vis a vis Business Objective achievement.
Work on incentive calculations, analysis and approval process. Payouts being accountability of Payroll Team - Pre-decide Roles covered and ensure seamless adherence of Incentives only for those roles.
Monitoring of payout of Incentives
Support annual bonus planning, budgeting, simulations, and performance-linked variable pay programs.
Partner with business leaders to finalize annual bonus plans and related compensation proposals.
Manage job evaluation activities for designated business segments and coordinate with Job Evaluation Committees.
Define and maintain compensation bands for critical hiring roles.
Monitor and govern hiring compensation ranges in alignment with approved frameworks.
Participate in organization-wide HR transformation, compensation, and policy projects.
Deliver compensation analytics before, during, and after compensation review cycles.
Analyze internal compensation, market benchmarks, hiring trends, and workforce insights.
Monitor industry compensation trends relevant to business segments.
Evaluate linkages between variable pay, business outcomes, productivity, and earnings.
Recommend interventions for retention, compensation corrections, and productivity enhancement.

Job description

Job Description:

Compensation Benchmarking

Participate in compensation benchmarking studies through sponsored and forum-based surveys.
Partner with Business HR teams to assess compensation needs across business verticals.
Analyse market data, internal parity, and benchmarking outcomes to support compensation decisions.
Support annual compensation budgeting, simulations, and planning activities.
Collaborate with business teams on compensation proposals, rating normalization, and review processes.
Engage with leadership teams during compensation review discussions.
Drive seamless execution and closure of annual compensation cycles.
Manage off-cycle compensation reviews and retention-related compensation interventions.
Conduct proactive compensation reviews based on internal equity, market positioning, and retention considerations.
Y-O-Y Process Improvement to ensure the PRAISE Process is seamless.
Agile action on Ground level feedback on process points of improvement.
Partaking accountabilities on change in Compensation Philosophy / design
Managing the Tech Platform for PRAISE
Monitor incentive schemes for Business Units in purview and also earnings vis a vis Business Objective achievement.
Work on incentive calculations, analysis and approval process. Payouts being accountability of Payroll Team - Pre-decide Roles covered and ensure seamless adherence of Incentives only for those roles.
Monitoring of payout of Incentives
Support annual bonus planning, budgeting, simulations, and performance-linked variable pay programs.
Partner with business leaders to finalize annual bonus plans and related compensation proposals.
Manage job evaluation activities for designated business segments and coordinate with Job Evaluation Committees.
Define and maintain compensation bands for critical hiring roles.
Monitor and govern hiring compensation ranges in alignment with approved frameworks.
Participate in organization-wide HR transformation, compensation, and policy projects.
Deliver compensation analytics before, during, and after compensation review cycles.
Analyze internal compensation, market benchmarks, hiring trends, and workforce insights.
Monitor industry compensation trends relevant to business segments.
Evaluate linkages between variable pay, business outcomes, productivity, and earnings.
Recommend interventions for retention, compensation corrections, and productivity enhancement.