DMI Finance - Manager - Employee Benefits & Rewards Specialist (4-7 yrs)

Manager - Employee Benefits & Rewards Specialist

Key Responsibilities:

ESOP Administration:

- Manage the day-to-day operations of the ESOP, including handling employee eligibility, vesting schedules, and stock allocations.

- Work with external administrators, accountants, and legal advisors to ensure the ESOP is properly managed and compliant with regulations.

- Maintain accurate records of employee stock ownership and ensure all transactions are documented correctly.

- ESOP portal management.

- Manage the process for employee stock purchases, sales, and distributions, ensuring compliance with plan rules.

Mediclaim Management:

- Administer the company's Mediclaim policies, including employee enrolment, renewals, and endorsements.

- Act as the primary contact for employees regarding Mediclaim queries, claims processing, and grievance resolution.

- Coordinate with insurance providers and third-party administrators (TPAs) for smooth claims settlement.

- Track claim statuses, manage escalations, and ensure timely reimbursements.

- Organize employee awareness sessions on Mediclaim benefits and claim processes.

Employee Benefits Administration:

- Manage other employee benefit programs such as group insurance, accidental coverage, and wellness programs.

- Ensure accurate data management for all employee benefit schemes.

- Analyse benefit utilization trends and suggest improvements in policies.

HR Compliance Support (Benefits-related):

- Ensure compliance with statutory benefits like maternity benefits, leave policies, and gratuity as applicable.

- Maintain proper documentation for benefit-related statutory requirements.

Reporting & Analysis:

- Prepare monthly reports on claims, benefit utilization, and cost analysis.

- Provide insights to the AVP for decision-making on policy renewals and negotiations.

Employee Communication:

- Educate employees about the company's compensation and benefits offerings.

- Provide information and answer queries related to compensation, bonuses, stock options, benefits, and other rewards.

Overlap Areas for Collaboration:

- Data Sharing: Both resources will collaborate to ensure employee data consistency across payroll, compliance, and benefits platforms.

- Audit Support: Jointly support internal and external audits related to compensation and benefits.

- Policy Development: Work together under the guidance of the AVP to update or develop compensation and benefits policies.

Reporting to: AVP - Compensation & Benefits