Compensation Specialist

Role Overview

YES BANK is seeking a Compensation Specialist to handle key compensation planning, analysis, policy support, reporting, and stakeholder coordination within the HR function. The role focuses on ensuring market-aligned compensation practices, strong governance, and efficient execution of compensation-related processes.

Core Responsibilities

• Take ownership of major compensation activities, including the bank’s annual compensation review and the wage cost budgeting process that comes before it.
• Work with external advisory firms such as Aon and Deloitte to participate in annual compensation surveys and collect market benchmark insights.
• Build executive pay structures and support the design and administration of long-term incentive programs, including tracking instruments such as ESOPs and RSUs.
• Contribute to the creation and refinement of the bank’s total rewards policy, ensuring it remains aligned with prudent risk management standards.
• Coordinate with Payroll and Finance teams so that compensation information for the MD & CEO and Board of Directors is accurately reflected in statutory reporting.
• Improve compensation workflows and reporting through automation, while collaborating with HR Systems and Technology teams to fully use HRIS capabilities.
• Keep compensation practices aligned with current market movements and help maintain competitiveness against peer organizations.
• Review hiring pay, pay parity, and wage-cost limits to identify gaps, inconsistencies, or anomalies.
• Prepare responses to questions from Internal Audit, Compliance, and external regulators such as the RBI.
• Conduct training sessions for HR Business Partners and other central HR teams on compensation programs and policy updates.
• Create and maintain the annual action calendar for the Compensation team and ensure all deliverables are completed on time.

Qualifications

• An MBA in Human Resources from a reputed institute is preferred.
• 3 to 5 years of relevant experience in compensation management, ideally in a large organization and preferably within the banking sector.
• Strong working knowledge of MS Office tools, especially Excel, PowerPoint, and Word.
• Exposure to advanced analytical tools such as Advanced Excel, Power BI, or Tableau is desirable.
• Good understanding of current and emerging compensation concepts.
• Strong written and verbal communication skills.
• Ability to manage stakeholders diplomatically while maintaining strict confidentiality.

Additional Information

This is a full-time, onsite opportunity based in the Mumbai Metropolitan Region.