Head of Compensation and Benefits

Key Responsibilities
Compensation Strategy & Governance

- Develop and lead the enterprise-wide compensation strategy covering fixed pay, variable pay, short- and long-term incentives, and sales/commission-based structures.

- Ensure compensation programs support business growth, underwriting profitability, agency performance, and talent retention.

- Establish governance frameworks, policies, and approval matrices for compensation-related decisions.

Market Benchmarking & Analytics

- Oversee market pricing and benchmarking using reputable insurance and financial services surveys.

- Conduct pay competitiveness, equity, and compression analyses across corporate, technical, actuarial, underwriting, claims, and sales roles.

- Provide data-driven insights and recommendations to senior leadership and HR business partners.

Incentives, Sales & Variable Pay

- Design and manage incentive programs for corporate functions, executive leadership, and sales/agency channels.

- Ensure commission and incentive plans align with performance metrics, risk appetite, and regulatory standards.

- Review incentive outcomes and effectiveness to ensure sustainability and fairness.

Executive & Board Compensation

- Support executive compensation design, including annual incentive plans, long-term incentives, and retention programs.

- Prepare compensation materials, analyses, and recommendations for the Board and relevant committees.

- Ensure executive pay structures align with governance best practices and shareholder expectations.

- Job Architecture & Pay Structures

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- Lead job evaluation, grading, and salary structure development across the organization.

- Maintain clear job architecture and career frameworks to support workforce planning and progression.

- Ensure internal equity and consistency across business units and roles.

Compliance & Risk Management

- Ensure compliance with local labor laws, insurance regulations, and governance requirements related to compensation.

- Partner with Risk, Legal, and Compliance teams to manage compensation-related risks.

- Support regulatory audits and internal reviews involving compensation practices.

Qualifications & Experience

- Bachelors degree in Human Resources, Finance, Economics, Business, or a related field; Masters degree preferred.

- Minimum of 10–15 years of progressive compensation or total rewards experience, with strong exposure to the insurance or financial services industry .

- Proven experience designing incentive and commission structures within regulated environments.

- Strong analytical skills with experience in compensation modeling and financial impact analysis.

Originally posted on Himalayas