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
• • 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