Compensation & Benefits Specialist

The Compensation & Benefits Specialist is accountable for the accurate and timely processing of payroll data.

In this role, the incumbent manages benefits administration and deductions, ensuring compliance with tax laws and regulations. Furthermore, the role is responsible for all compensation and benefits reportings as well as payroll updates. 

RESPONSIBILITIES

• Manage Payroll Processes:
  • Manage and administer all aspects of employee compensation and benefits, ensuring accuracy, compliance and strict adherence to deadlines, thereby contributing to the overall success of the Bank.
  • Oversee the accurate and timely processing of monthly payroll for all staff. Ensure meticulous attention to detail in all payroll-related tasks.
  • Maintain compliance with all relevant regulatory guidelines, legal requirements and internal banking policies.
  • Provide guidance and support to employees on all payroll related matters.
  • Assist in the preparation of the HR budget and perform regular monitoring and reporting.
  • Participate in the design and development of compensation and benefits policies and take full ownership of the implementation of new benefits introduction.
  • Analyse the different components of the remuneration scheme at the Bank and prepare reports about the internal equity and external competitiveness
• Benefits Administration:
  • Manage and administer employee benefits, including medical insurance and retirement plans.
  • Respond to employee inquiries regarding benefits and resolve any related issues.
• Leave Management:
  • Administer employee leave requests and ensure that any non-compliance is escalated to the Line Manager and Director Human Resource for appropriate action.
• Stay informed of changes in labour laws, tax regulations and banking regulations regarding compensation and benefits.
• Participate in the continuous improvement of existing internal processes.

MINIMUM JOB REQUIREMENTS 

• Bachelor degree in Human Resource, Management or equivalent
• Relevant certifications in compensation and benefits constitute a definite advantage
• Minimum of 4 years’ experience as Compensation & Benefits Specialist or Human Resource Generalist also responsible for payroll management

COMPETENCIES

• High level of integrity and confidentiality.
• Good knowledge of Mauritian employment laws, regulations and tax requirements related to compensation and benefits practices.
• In-depth understanding of employee benefits programs, including healthcare plans, pension schemes and leaves management.
• Excellent analytical and problem solving skills.
• Strong attention to detail and accuracy in managing compensation and benefits processes.
• Proficient in using MS Office tools, particularly Excel, for data analysis and reporting.
• Excellent communication skills, both oral and in writing English and French.
• Ability to work independently and collaboratively in a fast-paced environment.
• Ability to work under pressure and manage tasks simultaneously.