Manager – HR Benefits

Manager – HR Benefits

Full Time
Mumbai
Posted 3 years ago

Position Title:  Manager – Benefits 

 

Job Description JD Human Resources – Benefits 
Designation Manager/ Deputy Manager Role Team Member Benefits
Function/Department Human Resources Level P3/P4
Sub-Unit Compensation & Benefits Reporting to (position)  

Lead – Compensation & Benefits

 

Geographical location of the role Mumbai, India
Approved by (HOD) Head – Human Resources Final Approval Chief of Human Resources

 

 

 

Purpose of the role
 

–          To support the Lead – Compensation & Benefits

–          To manage the annual compensation process, partnering with senior leadership team to determine annual salary increases, promotions and other compensation decisions; and

–          To oversee vendor negotiations and monitor benefits to ensure that they are cost effective and support employee needs

Profile – Roles and Responsibilities
 

Areas of Responsibility & brief description

Responsibility Level
1.         Coordinating retirement, pension, profit-sharing and stock ownership plans Full
2.         Researching and analyzing healthcare plans, including medical, dental, vision and disability insurance Full
3.         Evaluate Benefit processes and policies to ensure they are current, competitive and in compliance with legal and local rules and regulations. Full
4.         Designing a comprehensive benefits package to meet the needs of a changing workforce Full
5.         Evaluating the costs and benefits of wellness programs, life and long-term care insurance, and employee assistance programs Full
6.         Planning employee  communication to spread awareness on Benefits Full
7.         Support in designing benefit structures in line with local practices, handling compensation surveys and benchmarking on a global scale. Full
8.        Manage service agreements with established providers/consulting companies (pension actuaries, insurance companies, health care providers etc.) and ensures costs are correctly reviewed and controlled in line with the contractual terms. Full
9.         Resolve issues related to benefits and independently make appropriate recommendations to Compensation lead, wherever required. Full
10.     Building and maintaining relationships with health and retirement plan providers Full
11.      Vendor identification and negotiations Full
12.      Reviewing vendor invoices, resolving disputes, and reporting on fees and costs Full
13.      Maintain benefit related information in database according to established procedures. Full
14.      Updates and maintains benefits related procedures as necessary Full
15.      Monitor benefits to ensure that they are cost effective and support employee needs Full
16.      Act as single point of contact for  queries/questions regarding benefit eligibility, amounts of coverage, and claims procedures Full
17.      Assist the lead in creating the policy and framework for the compensation structure and benefits Full
18.     Assist the Team Lead in end to end planning and execution of C & B budgets. Full
Indicative KRA’s/Budgetary and Revenue Responsibilities
1.       Timely renewal of all  term plans/benefit policies
2.       Ensure competitive renewal rates both for renewals and new policy coverage
3.       Ensure compliance with legal and local rules and regulations
4.       Ensure 100% employee coverage under medical health checkup, group personal accident and life insurance polices
5.       Ensure timely internal & external communication as per timelines
6.       Maintain and update relevant database for management reporting
Key Interactions within and outside of  Comapny
External Internal
1.       Insurance providers 1.       HR Business  partners
2.       Health care providers

3.       Brokers & Consultants

 

2.       Payroll team

3.       Corporate finance team

4.       Regional finance teams

Qualification & Experience (Education, Experience, specific knowledge, skills, understanding, attitude)
Education:PG/MBA in HR or any Global Equivalent Degree  OR

Any post graduate with diploma or certification of 6 to 12 months course in Compensation & Benefits

Experience:Overall 2 – 5  years of work experience in Human Resources

Minimum 2 years of experience in Compensation, Benefits, Benefit administration in a global  organization

Knowledge & Key Skills:

·         Excellent Knowledge of excel

·         Ability to work on multiple data sources to arrive at management reports

·         Market knowledge related to ongoing best practices

Competencies/Personal Attributes
Organizational  Competencies Functional Competencies
1.       Entrepreneurship 1.    Data Analytics
2.       Quality & Service Orientation 2.    Compensation & Benefits framework
3.       Teamwork & Collaboration 3.    Policy & Procedures
4.       Diversity Sensitivity 4.    Negotiation & Vendor management
5.       Personal & Professional Development 5.    Execution excellence
6.       Delivering Results
7.       Communication
8.      Networking
9.       Leadership
Additional Requirements
Certification in compensation and Benefits shall be an added advantage.
       

 

Job Features

Job CategoryProcessing & Outsourcing
Weekends5 Days a week
working Hours9:30 AM - 6:30 PM

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