About the job
Title: Head of Compensation & Benefits
Location: Riyadh
Company: Confidential (Banking industry)
Reporting to: Group Head of Compensation & Benefits
Subordinates: 3
Confidential bank in Riyadh seeking a dynamic and experienced Head of Compensation & Benefits to join their team. The ideal candidate will be responsible for designing, implementing, and managing the businesses compensation and benefits programs to ensure they align with their business objectives and support their efforts to attract, retain, and motivate top talent in the banking industry.
Key Responsibilities:
- Strategic Planning: Develop and implement compensation and benefits strategies that support the organization's overall business goals and objectives.
- Compensation Management: Design and administer competitive compensation programs, including salary structures, incentives, and bonuses, to attract and retain high-performing employees.
- Benefits Administration: Oversee the design and administration of employee benefits programs, such as health insurance, retirement plans, and other perks, ensuring compliance with regulatory requirements and market trends.
- Job Evaluation and Benchmarking: Conduct job evaluations and market benchmarking to ensure internal equity and competitiveness of compensation packages.
- Performance Management: Collaborate with HR and business leaders to integrate compensation and performance management processes, including merit increases, promotions, and performance-based incentives.
- Budgeting and Forecasting: Develop and manage budgets for compensation and benefits programs, and provide regular forecasts and analysis to support financial planning and decision-making.
- Compliance and Governance: Stay abreast of local regulations and industry trends related to compensation and benefits, ensuring compliance and best practices.
- Vendor Management: Evaluate and manage relationships with external vendors, consultants, and service providers related to compensation and benefits administration.
- Employee Communication: Develop effective communication strategies to educate employees about compensation and benefits programs, including total rewards statements and other relevant materials.
- Analytics and Reporting: Utilize data analytics and reporting tools to monitor key metrics and trends related to compensation and benefits, and provide insights and recommendations to senior management.
Mandatory Requirements:
- Min 10 years in Human Resources
- Min 5 years solid Compensation & Benefits experience
- Leadership experience
- KSA National applicants only please
- Bachelors degree minimum qualification
- Banking or Financial Service industry experience