Manager, Remuneration & Benefits at Careers @ MUFG Pension & Market Services

Mumbai, maharashtra, India -

Full Time

Start Date

Immediate

Expiry Date

20 Aug, 26

Salary

0.0

Posted On

22 May, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Remuneration Design, Benefits Management, Market Benchmarking, Job Architecture, Stakeholder Management, Financial Modelling, Insurance Broker Management, Reward Governance, Compliance, Data Analysis, Incentive Design, HR Advisory

Industry

Financial Services

Description

Overview Reporting to the Director, Remuneration & Benefits (based in Australia), this role is responsible for leading the design, delivery, and governance of remuneration and benefits programs across India and Hong Kong. The role provides both strategic advisory and hands‑on delivery across remuneration cycles, benefits programs, insurance plan management, market benchmarking, job architecture, and reward governance. It partners closely with HR Business Partners, the local leadership teams, Finance, Payroll, and the Global Remuneration & Benefits team to ensure reward programs are competitive, compliant, and aligned with business strategy. Key Accountabilities and main responsibilities Remuneration * Lead and deliver the annual remuneration cycle for India and Hong Kong, including planning, modelling, analytics, guidance, and stakeholder capability building. * Provide expert advice to HR Business Partners and senior leaders across the India Hub, Hong Kong Corporate Markets, and Hong Kong Retirement Solutions. * Manage market benchmarking for both regions, including salary survey submissions and interpreting market data to inform competitiveness. * Maintain and enhance regional salary structures and job architecture alignment, ensuring internal equity and global consistency. * Develop HR and manager training on job architecture, remuneration fundamentals, salary structures, and compa‑ratios. * Strengthen governance through clear remuneration controls, policy development, incentive eligibility rules, and exception processes. * Support the design and review of short‑term incentives, including annual bonus programs and quarterly market-specific incentive schemes. * Conduct high‑quality analysis and scenario modelling supporting strategic decision making across India and Hong Kong. Benefits * Own and manage all India and Hong Kong employee benefits programs, including: * * Medical insurance policies * Life insurance programs * Other country-specific benefits * Lead annual insurance and benefits renewal cycles, including broker and insurer negotiations. * Manage broker relationships end-to-end across India and Hong Kong, ensuring service quality, responsiveness, and competitive pricing. * Monitor utilisation data, identify trends, and recommend enhancements that support wellbeing, retention, and local market expectations. * Ensure benefits programs remain compliant with local labour laws and market standards. Leadership * Contribute to the global Remuneration & Benefits strategy, ensuring India and Hong Kong requirements are understood and incorporated. * Support global reward initiatives such as job architecture, technology improvements, and policy harmonisation. * Deliver continuous improvement across reward processes, documentation, controls, and employee experience. Stakeholder Support * Act as the subject-matter expert on remuneration, benefits, performance, gender pay gap and job architecture matters across India and Hong Kong. * Support HR Business Partners in India and Hong Kong with reward-related issues and business advisory. * Partner with Finance, Payroll, Tax, and Global HR for accurate implementation of reward programs. * Maintain strong relationships with external vendors, insurance brokers, and consulting partners. * Provide clear, timely communication to leaders and employees on reward changes, benefits renewals, and policy updates. Compliance & Reporting * Ensure compliance with all India and Hong Kong statutory, regulatory, and tax obligations (e.g., region‑specific insurance requirements, labour code standards, MPF/ORSO obligations for Hong Kong). * Maintain reporting frameworks, dashboards, and analytics across remuneration and benefits. * Manage vendor invoicing, contract renewals, and SLAs. * Ensure reward records and processes support audit requirements and global governance standards. The above list of key accountabilities is not an exhaustive list and may change from time-to-time based on business needs. Experience & Personal Attributes * Bachelor’s or Master’s degree in HR, Business, Finance, or related fields. * Strong experience in remuneration, benefits, and incentive design across India and/or Hong Kong. * Experience managing medical and life insurance programs, including broker management and renewals. * Experience in global or matrixed organisations (preferred). * Demonstrated ability to lead multi-market reward initiatives or projects. * Strong analytical capability, including modelling, pay benchmarking, and data interpretation. * Proven stakeholder management with senior leaders and cross-functional teams. MUFG Pension & Market Services is a global, digitally enabled business that empowers a brighter future by connecting millions of people with their assets – safely, securely and responsibly. Through our two businesses MUFG Retirement Solutions and MUFG Corporate Markets, we partner with a diversified portfolio of global clients to provide robust, efficient and scalable services, purpose-built solutions and modern technology platforms that deliver world class outcomes and experiences. A member of MUFG, a global financial group, we help manage regulatory complexity, improve data management and connect people with their assets, through exceptional user experience that leverages the expertise of our people combined with scalable technology, digital connectivity and data insights. Our People function is dedicated to fostering positive outcomes for our team, clients, and communities. We develop strategic initiatives to make MUFG Pension & Market Services a place where people can belong, thrive, and succeed together. Our services cover engagement and wellbeing, recruitment, HR operations, payroll, health & safety, remuneration and benefits, HR systems and reporting, and business partnering. We promote an inclusive culture where differences are valued, and we support flexible working. Diversity drives innovation, which in turn drives growth. Join MUFG Pension & Market Services and help us achieve our full potential. We treat everyone fairly and equitably, regardless of diverse characteristics. Candidates must have the relevant work rights. Successful applicants must complete background screening before employment.

Responsibilities

Lead the design, delivery, and governance of remuneration and benefits programs across India and Hong Kong. Provide strategic advisory and hands-on management of annual reward cycles, insurance renewals, and market benchmarking.