Compensation And Benefits Specialist India And South Africa

Munich Re Group; Mumbai; On-site; INR 1,500,000 - 2,800,000; Full time

Job summary

Munich Re Group in India leads rewards strategy implementation across India and South Africa. Based in India, you will be the rewards SME, ensuring competitiveness, compliance, and alignment with strategic initiatives while partnering with Corporate teams and regional stakeholders.

You will manage annual salary reviews, benefits programs, master data, international moves with Global Mobility, and leverage SuccessFactors for data insights.

Qualifications

• 5+ years experience in Rewards and HR operations.
• Experience of Compensation & Benefits in the South Africa market would be strongly preferred.
• Experience learning Compensation & Benefits structures in additional markets to India is essential.
• Previous experience working in financial services.
• Familiar with data analytics tools and HR tech platforms.

Responsibilities

• Manage the annual compensation process cycle, including salary review and bonus processes.
• Oversee benefits programs, salary benchmarking, master data management and other C&B tasks.
• Construct reward packages for international moves and localizations with Global Mobility.
• Support employees’ communications sessions pertaining to rewards initiatives.
• Leverage SuccessFactors to streamline processes and act as HR SME for queries; support SF implementation and audits.

Skills

Rewards operations

Data analytics

Stakeholder management

Communication

Education

Bachelor's degree in HR or related field

Tools

SuccessFactors

Job description

Job Description:

Working in Global HR at Munich Re for Reinsurance & Specialty Group means being part of a dynamic, globally connected team that plays a critical role in shaping the future of our organization. As an HR professional, you contribute to the success of our business by supporting people strategies that drive transformation, foster collaboration, and enable sustainable growth.

Our Global HR function is evolving to meet the needs of a fast-changing world. We operate in a connected, collaborative, and forward-thinking Global HR matrix community that values empathy, initiative, and a global mindset—where every team member plays a role in delivering effective services and solutions and creating meaningful impact.

Whether your focus is talent, rewards, analytics, business partnering, services, or any other area of HR, you will work across regions and functions to co-create solutions that support our people and business. You will be empowered to collaborate, innovate, and grow—contributing to a culture that values diversity, continuous learning, and shared success.

Join us in building the future of Global HR.

Job Summary

Based in India, you will be responsible for implementing Munich Re’s rewards strategy in the India & South Africa businesses. Reporting to the Regional Head of Rewards APAC MEA,you will be the subject matter expert in rewards, ensuring competitiveness, compliance, and alignment with our strategic initiatives. You will also partner with the Corporate teams and across regions and functions, on a wide range of project and initiatives.

Role Profile

• Manage the annual compensation process cycle, including annual salary review and bonus processes.
• Ensure effective management of benefits program, salary benchmarking, master data management and other C&B tasks
• Construct reward packages for international moves and localizations while working closely with the Global Mobility team
• Support/Conduct employees’ communication sessions pertaining to rewards initiatives
• Leverage SuccessFactors to streamline processes and extract data to story tell to the wider business. Act as the HR SME for SuccessFactors related queries from both the business and other HR colleagues
• Support and contribute to key projects such as SuccessFactors implementation, where appropriate
• Support audits and prepare documentation for regulatory inspections or internal reviews.
• Identify improvement from existing HR procedures and practices, and provide solutions to continuously optimize the operational process
• Ensure compliance with India, South Africa and regional labour laws, tax regulations, and corporate governance policies related to compensation and benefits
• Utilize data-driven insights to optimize reward structures, balancing cost efficiency with employee value
• Closely collaborate with the Global Payroll team to ensure integrated and seamless processes between payroll and rewards and assist the Payroll Specialist in payroll related matters, and act as payroll checker for monthly payroll

Your Profile

• 5+ years’ experience working in Rewards and HR operations.
• Experience of Compensation & Benefits in the South Africa market would be strongly preferred.
• Proven experience of learning Compensation & Benefits structures and practices in additional markets to India, is essential.
• Previous experience working in financial services.
• Familiar with SuccessFactors and data analytics tools
• Strong problem solving and critical thinking skills
• Comfortable to work with ambiguity and empowerment
• Detail-oriented, well-organised and able to manage multiple tasks efficiently
• Good communication and stakeholder management skills
• Enthusiastic team player with a positive work attitude, able to work in a fast-paced environment
• Fast learner with an open mind

About Munich Re

As the worlds leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.

Does this sound like you? Push boundaries with us and be part of Munich Re.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.