Senior Manager-Compensation and Benefit

Kotak Mahindra Bank; Mumbai; On-site; INR 1,500,000 - 2,100,000; Full time

Job summary

Kotak Mahindra Bank is seeking a results-oriented Compensation & Analytics professional in Mumbai to support benchmarking studies, budgeting, and incentive planning. You will partner with HR and business leaders to ensure market-aligned compensation practices and data-driven decisions.

Ideal candidates have MBA HR or MSc Statistics with 4–5 years HR experience, strong Excel skills, and familiarity with Power BI and macros. Excellent stakeholder management and communication skills are essential.

Qualifications

• MBA in HR or a Master's in Statistics.
• 4–5 years of HR experience, including 1–2 years in Compensation & Benefits.
• Strong analytical and data-handling capabilities with advanced Excel skills.
• Knowledge of Macros and Power BI will be an added advantage.
• Strong stakeholder management and communication skills.

Responsibilities

• Participate in compensation benchmarking studies and collaborate with HR teams.
• Support annual compensation budgeting, simulations, and planning activities.
• Drive compensation analytics before, during, and after review cycles.
• Define and maintain compensation bands for critical hiring roles.
• Monitor incentive schemes and ensure alignment with business objectives.
• Assist with organization-wide HR transformation and policy projects.

Skills

Analytical skills

Excel – advanced

Stakeholder management

Communication skills

Education

MBA in HR

Master's in Statistics

Tools

Power BI

Macros

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.

Compensation Review Process:

• 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

Variable Pay:

• 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.

Job Band and Pay Bands & Projects:

• 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.

Compensation Analytics:

• 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 Requirement:

• MBA specializing in Human Resources or Master's degree in Statistics.
• 4-5 years of relevant HR experience, including 1-2 years in Compensation & Benefits.
• Strong analytical and data-handling capabilities with advanced Excel skills.
• Knowledge of Macros and Power BI will be an added advantage.
• Strong stakeholder management and communication skills.