Compensation and Benefits Analyst

The successful candidate will work closely with HR and Operations to develop data-driven compensation solutions that support business objectives, employee performance, and organizational growth. Key Responsibilities: 1. Compensation & Salary Structuring • Develop and maintain salary structures, salary bands, and grading frameworks across different job categories and levels. • Conduct salary benchmarking and market comparisons to support competitive and internally equitable compensation practices. • Analyse salary costs, increments, allowances, and other compensation components. • Prepare compensation reports and provide recommendations to management based on budget, market data, and internal salary positioning. • Review and maintain consistency in salary structures across branches and business units. 2. Incentive & Performance-Based Schemes • Design, develop, and implement incentive structures aligned with business and employee performance. • Develop commission, bonus, and performance incentive calculations for different employee categories. • Work closely with Operations to understand business KPIs and translate them into measurable incentive models. • Analyse the financial impact of proposed incentive schemes and prepare cost simulations before implementation. • Monitor incentive performance and recommend adjustments to improve effectiveness and business outcomes. • Prepare monthly incentive calculations and validate eligibility against approved performance criteria. 3. Payroll Administration & Processing • Support end-to-end monthly payroll processing, ensuring accuracy and timely salary disbursements. • Consolidate and validate payroll inputs, including attendance, overtime, leave, deductions, allowances, incentives, and salary adjustments. • Reconcile payroll data against employee records and approved HR transactions. • Identify and investigate payroll discrepancies and coordinate necessary corrections. • Maintain payroll records and ensure confidentiality of employee compensation information. • Assist with payroll reports, reconciliations, and monthly payroll cost analysis. 4. HR Reporting & Analytics • Prepare monthly reports on payroll costs, salary distribution, incentives, overtime, and employee compensation. • Develop and maintain Excel-based models, dashboards, and automated reports to improve reporting efficiency. • Analyse workforce costs and identify trends, variances, and opportunities for cost optimization. • Prepare financial simulations for proposed HR initiatives, salary revisions, and new incentive schemes. • Support annual budgeting and manpower cost forecasting in coordination with HR and Finance. Qualifications & Experience: • Bachelor's degree in Finance, Accounting, Business Administration, Economics, or a related field. • 3–5 years of relevant experience in compensation and benefits, payroll, financial analysis, or a similar analytical role. • Strong proficiency in Microsoft Excel, including advanced formulas, Pivot Tables, lookups, and financial modelling. • Experience with HRIS or payroll systems; SAP SuccessFactors experience would be an advantage. • Strong numerical, analytical, and problem-solving skills. • Experience developing incentive schemes, commission structures, or performance-based compensation models is preferred. • Good understanding of payroll processes, salary components, and compensation administration. Key Competencies: • Strong numerical aptitude and attention to detail. • Analytical and commercially minded approach. • Advanced Excel and data modelling capabilities. • Ability to interpret business performance data and translate it into financial models. • Strong organizational and time-management skills. • High level of integrity and confidentiality when handling sensitive employee information. • Ability to work independently and collaborate with HR, Finance, and Operations teams.

Bachelor's degree in Finance, Accounting, Business Administration, Economics, or a related field. 3–5 years of relevant experience in compensation and benefits, payroll, financial analysis, or a similar analytical role. Strong proficiency in Microsoft Excel, including advanced formulas, Pivot Tables, lookups, and financial modelling. Experience with HRIS or payroll systems; SAP SuccessFactors experience would be an advantage. Strong numerical, analytical, and problem-solving skills. Experience developing incentive schemes, commission structures, or performance-based compensation models is preferred. Good understanding of payroll processes, salary components, and compensation administration.

1. Compensation & Salary Structuring: Develop and maintain salary structures, salary bands, and grading frameworks across different job categories and levels. Conduct salary benchmarking and market comparisons to support competitive and internally equitable compensation practices. Analyse salary costs, increments, allowances, and other compensation components. Prepare compensation reports and provide recommendations to management based on budget, market data, and internal salary positioning. Review and maintain consistency in salary structures across branches and business units. 2. Incentive & Performance-Based Schemes: Design, develop, and implement incentive structures aligned with business and employee performance. Develop commission, bonus, and performance incentive calculations for different employee categories. Work closely with Operations to understand business KPIs and translate them into measurable incentive models. Analyse the financial impact of proposed incentive schemes and prepare cost simulations before implementation. Monitor incentive performance and recommend adjustments to improve effectiveness and business outcomes. Prepare monthly incentive calculations and validate eligibility against approved performance criteria. 3. Payroll Administration & Processing: Support end-to-end monthly payroll processing, ensuring accuracy and timely salary disbursements. Consolidate and validate payroll inputs, including attendance, overtime, leave, deductions, allowances, incentives, and salary adjustments. Reconcile payroll data against employee records and approved HR transactions. Identify and investigate payroll discrepancies and coordinate necessary corrections. Maintain payroll records and ensure confidentiality of employee compensation information. Assist with payroll reports, reconciliations, and monthly payroll cost analysis. 4. HR Reporting & Analytics: Prepare monthly reports on payroll costs, salary distribution, incentives, overtime, and employee compensation. Develop and maintain Excel-based models, dashboards, and automated reports to improve reporting efficiency. Analyse workforce costs and identify trends, variances, and opportunities for cost optimization. Prepare financial simulations for proposed HR initiatives, salary revisions, and new incentive schemes. Support annual budgeting and manpower cost forecasting in coordination with HR and Finance.