Compensation & Benefits Specialist for India and South Africa

About Munich Re Global HR

Joining the Global HR team at Munich Re within the Reinsurance & Specialty Group means becoming part of an energetic and globally interconnected team essential to steering the company's future. As an HR professional, you actively contribute by supporting people strategies that enable transformation, promote teamwork, and foster sustainable business growth.

Our evolving Global HR department operates in a collaborative, forward-thinking matrix environment that values empathy, initiative, and a global mindset. Every team member plays an integral part in offering efficient services and impactful solutions for our diverse organization.

The HR function encompasses various areas including talent management, rewards, analytics, business partnerships, and service delivery. You will collaborate cross-functionally and across regions to design solutions that benefit both employees and the business. The culture here emphasizes diversity, lifelong learning, and collective success.

Role Overview

This position involves implementing the rewards strategy specific to Munich Re’s India and South Africa offices. Reporting to the Regional Head of Rewards for APAC and MEA, you will serve as the subject matter expert for compensation and benefits, ensuring competitiveness, compliance, and alignment with corporate strategic initiatives. Collaborations will span corporate teams and multiple regions and functions on numerous projects and initiatives.

Responsibilities

• Lead the annual compensation cycle, including salary reviews and bonus administration.
• Oversee benefits programs, salary benchmarking, master data management, and other compensation and benefits (C&B) responsibilities.
• Develop reward packages for international assignments and relocations working closely with the Global Mobility team.
• Facilitate communications with employees regarding rewards programs and updates.
• Use SuccessFactors to streamline HR processes and extract data for business insights while acting as the main HR contact for related queries.
• Contribute to key initiatives such as SuccessFactors implementations.
• Support regulatory audits and maintain documentation for compliance and internal checks.
• Identify areas for improvement in HR operations and recommend solutions to enhance efficiency.
• Ensure compliance with labor laws, tax regulations, and governance policies in India, South Africa, and regional markets regarding compensation and benefits.
• Employ data-driven approaches to balance cost efficiency with employee value in compensation structures.
• Collaborate closely with the Global Payroll team to ensure integrated payroll and rewards processes; assist with payroll-related matters and act as a monthly payroll verifier.

Candidate Profile

• Minimum 5 years’ experience managing rewards and HR operations for India and South Africa market contexts.
• Previous work experience within financial services sector preferred.
• Proficiency in SuccessFactors platform and data analytics tools.
• Strong analytical, problem solving, and critical thinking abilities.
• Comfortable working with ambiguity and empowered decision-making environments.
• Highly organized and detail-focused with excellent multitasking capabilities.
• Effective communication and stakeholder engagement skills.
• Positive team player mindset with ability to thrive in fast-paced settings.
• Quick learner open to new perspectives.
• Ability to handle confidential information with high integrity and discretion.

Additional Information

This role is based in either Singapore or Mumbai. Candidates currently residing in India should apply through the India-specific job listing filtered by location.

Munich Re values and nurtures a culture founded on diversity and openness, encouraging a collaborative spirit and inclusive development for every member of the team.