Senior Manager - Compensation & Benefits

About the Role

The Senior Manager position at National Commodity & Derivatives Exchange Limited (NCDEX) plays a vital role in implementing the organization's Compensation & Benefits philosophy while ensuring strict compliance with all statutory and regulatory legal requirements. NCDEX, India's leading agricultural derivatives exchange with a dominant market share, aims to uphold high standards through this role.

Key Responsibilities

• Implement and manage the compensation framework and philosophy, along with close supervision of HR budgets in a highly regulated environment.
• Administer payroll operations adhering fully to Income Tax rules and other statutory requirements, covering all employee levels including senior executives, with mechanisms like Malus and Claw-back following SEBI norms.
• Guarantee all HR policies and payroll actions comply with labor laws and financial regulatory directives, including timely filing of statutory returns such as ETDS and Form 16, and prompt settlement of retirement claims.
• Oversee the complete administration of employee benefits, including retirement benefits like NPS, Provident Fund, and Gratuity; policy reimbursements such as car and insurance claims; health insurance plans including GMC, GPA, GTL; and periodic employee health checkups.
• Regularly review and benchmark benefit offerings to optimize them through enhanced employee education and awareness.
• Support periodic compensation and benefits benchmarking to maintain a competitive position, analyze data, and provide strategic recommendations to senior management.
• Manage regulatory compliance, employee declarations, and periodic reporting related to HR obligations to SEBI.
• Handle exit procedures for all employee levels, including senior management, ensuring adherence to related regulations.
• Manage HRIS modules for attendance, leave, travel, separation, and reimbursement, addressing employee queries efficiently.
• Leverage modern HRIS dashboards with visualization tools for generating compliance and compensation reports for top management and CHRO.
• Lead HR aspects of audits, including process, statutory and regulatory audits, ensuring precision in data and adherence to governance standards concerning total rewards and regulations.
• Oversee vendor relations to secure quality services, contract renewals, and performance management.

Preferred Qualifications and Experience

• MBA or postgraduate degree in Human Resources (full-time preferred) with a bachelor's degree in commerce.
• Additionally, certifications in Compensation & Benefits, LLM, or advanced certificates in Labour Laws are advantageous.
• A minimum of 7 to 8 years of relevant professional experience.

Skills and Competencies

• In-depth expertise in Total Rewards concepts including Income Tax rules, perquisites, and TDS management.
• Experience in budgeting and monitoring HR-related expenditures.
• Proven ability to independently manage end-to-end payroll processes for medium-sized organizations.
• Thorough knowledge of labor laws and compliance requirements specific to financial market HR practices.
• Competence in crafting and managing employee benefits and HR policy frameworks for leave, attendance, allowances, and reimbursements to foster employee engagement.
• Advanced proficiency in Excel and PowerPoint.
• Expertise in utilizing sophisticated HRIS dashboards and applications.