Specialist - Compensation & Benefits

About PhonePe Group: 

PhonePe is India’s leading digital payments company with 50 crore (500 Million) registered users and 3.7 crore (37 Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India's first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

Culture

At PhonePe, we take extra care to make sure you give your best at work, Everyday! And creating the right  environment for you is just one of the things we do. We empower people and trust them to do the right  thing. Here, you own your work from start to finish, right from day one. Being enthusiastic about tech is a  big part of being at PhonePe. If you like building technology that impacts millions, ideating with some of  the best minds in the country and executing on your dreams with purpose and speed, join us!

Job Summary:

We are seeking a detail-oriented and analytical C&B specialist to manage the monthly processing of employee incentives, ensuring accuracy, compliance, and efficiency. This role will also be responsible for providing payroll and ESOP (Employee Stock Ownership Plan) related data and documentation for audits, as well as identifying and minimizing any potential leakages in incentive payouts.

Key Responsibilities:

• Incentive Processing:
• Manage the end-to-end monthly processing of employee incentives, including data collection, calculation, and disbursement.
• Collaborate with relevant stakeholders (e.g., Sales, Business Development) to gather performance data and ensure accurate incentive calculations.
• Vet and validate payroll inputs received from HRBPs and Business teams, ensuring accuracy and completeness.
• Implement and maintain robust checks and balances to ensure the accuracy and integrity of incentive payouts.
• Identify and resolve any discrepancies or issues related to incentive calculations.
• Continuously evaluate and improve incentive processes to enhance efficiency and effectiveness.
• Audit Support:
• Provide comprehensive payroll and ESOP-related data and documentation to internal and external auditors.
• Respond to audit queries and requests in a timely and accurate manner.
• Ensure compliance with all applicable regulations and internal policies related to payroll and ESOPs.
• Leakage Control:
• Proactively identify and analyze potential leakages in incentive payouts.
• Develop and implement strategies to minimize leakages and ensure cost optimization.
• Monitor and track incentive payouts to identify any unusual patterns or trends.
• Other Responsibilities:
• Maintain accurate records of incentive payouts and related documentation.
• Stay up-to-date on relevant laws, regulations, and best practices related to incentives, payroll, and ESOPs.
• Provide support to HR team members on incentive-related queries and issues.

Qualifications:

• Bachelor's degree in Finance, Accounting, Human Resources, or a related field.
• 3+ years of experience in incentive processing, payroll administration, or a similar role.
• Strong analytical and problem-solving skills.
• Proficiency in Microsoft Excel and other data analysis tools.
• Excellent attention to detail and accuracy.   
• Knowledge of payroll regulations and ESOP guidelines.
• Ability to work independently and as part of a team.
• Strong communication and interpersonal skills.

Preferred Qualifications:

• Experience with HRIS and payroll systems.   
• Familiarity with incentive compensation plan design.
• Experience working in a fast-paced, high-growth environment.

Benefits:

• Competitive salary and benefits package.
• Opportunity to work in a dynamic and challenging environment.   
• Be part of a high-performing HR team.

PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)

• Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance
• Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System
• Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program
• Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy
• Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment 
• Other Benefits - Higher Education Assistance, Car Lease, Salary Advance Policy

Working at PhonePe is a rewarding experience! Great people, a work environment that thrives on creativity, the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.

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