Vice President - Compensation & Benefits
We are seeking a talented professional to join Mashreq Global Services in our MGN Pakistan as a senior member of the Compensation & Benefits team to front-end Rewards for multiple groups and overseas operations. In this role, you will play a crucial part in developing and implementing compensation and benefits strategies, ensuring our overseas locations remain attractive and competitive in the global talent market. Your expertise will be instrumental in digitizing rewards processes, enhancing user experiences, and maintaining compliance with statutory requirements across various countries.
Below are some of the key role responsibilities:
- Responsible for management of C&B for Mashreq' overseas countries.
- Run pay review and bonus cycles in overseas location
- Implement the Bank’s strategy on digitizing Rewards processes. Look for opportunities to enhance user experience.
- Work with vendors on devising new concepts/applications for enhancing the existing user journeys for processes using scalable solutions
- Analyse the data generated through the compensation surveys, work with Head of Rewards to recommend and implement changes to the compensation and benefits practices in line with the Bank’s overall compensation philosophy to help maintain the competitive pay position of the Bank.
- Review Pay bands on an annual basis for every country and provide management with cost impact analysis for implementation of the new pay bands
- For each Country, initiate dipstick surveys and / or participate those conducted by banks for comparison with on or changes to various compensation and benefits practices. Utilize such information for proposed interim changes that would enhance the ability to attract and retain talent
- Provide consultation to Overseas Country PABPs and leadership in matters relating to policy clarification and interpretation
- Ensure uniformity in policies for all Mashreq locations
- Manage the annual Performance cycle end-to-end for each of the overseas location.
- Ensure the statutory requirements and labour law related to C&B is adhered to in each country.
- Develop and maintain overseas Rewards Policy', Benefits Matrices and ensure proper communication of the Banks’ compensation and benefits to all relevant parties.
- Ensure policy changes are communicated to overseas countries. Ensure accurate and up-to-date comparison of all policies on a regular basis.
- Document Standard Operating Procedures (SOPs) for new and existing processes to ensure uniformity with understanding and implementation.