Compensation & Benefits Lead

Compensation Lead (D3/D4)

The Compensation Lead (D3/D4) will drive compensation strategy, planning cycles, benchmarking, and governance across businesses and functions. The role ensures competitive, equitable, compliant, and cost-aligned compensation practices.

Key Responsibilities

• Compensation Strategy & Governance
  • Own and refine HDFC Bank’s compensation philosophy and structures.
  • Ensure parity, competitiveness, and alignment with business priorities.
  • Strengthen governance around pay decisions, exceptions, and approvals.
• Compensation Planning & Cycles
  • Lead annual increment, bonus, promotion, and mid-year correction cycles.
  • Own budgeting, cost modelling, and payout simulations for leadership reviews.
  • Manage sales incentive and variable pay frameworks.
• Benchmarking & Market Insights
  • Lead participation in banking-sector surveys (Aon, Mercer, WTW).
  • Conduct benchmarking for niche roles (Risk, Credit, Treasury, Analytics, IT).
  • Recommend market-driven interventions for critical/hard-to-hire roles.
• Job Evaluation & Architecture
  • Manage job evaluation, leveling, and grading consistency across businesses.
  • Partner with TA & HRBPs for correct level-fitment during hiring.
• Analytics & Reporting
  • Build dashboards on parity, gender pay, cost analysis, and competitiveness.
  • Support leadership with insights for manpower planning and talent reviews.
• Compliance & Audit
  • Ensure adherence to RBI norms, internal audit, and compensation governance policies.
  • Prepare audit documentation and strengthen internal controls.
• Stakeholder Management
  • Partner with CHRO’s office, HRBPs, Finance, Audit, and Business Heads.
  • Provide advisory support on promotions, retention cases, and senior hiring.
• Systems & Process Excellence
  • Manage compensation modules on HRMS.
  • Drive automation and reporting improvements.

Candidate Profile

• 15+ years of HR experience with strong expertise in Compensation & Benefits.
• Tier-1 college preferred; experience in BFSI/top corporates strongly valued.
• Excellent analytics, stakeholder management, and governance orientation.
• Strong understanding of compensation cycles, benchmarking, and modelling.