Vice President - Compensation & Benefits.PR&PR - Rewards & Recognition.People & Intellectual Capital Group (UAEN only)

About This Role

We are seeking a talented UAE National to join Mashreq UAE as a VP - Compensation & Benefits. In this role, you will play a crucial part in developing and implementing compensation and benefits strategies, supporting multiple groups and locations and ensuring our C&B proposition remain attractive and competitive in the global talent market. Your expertise will be instrumental in digitizing rewards processes, enhancing user experiences, and maintaining compliance with statutory requirements across various countries.

Below Are Some Of The Key Role Responsibilities

• Acts as a key subject‑matter expert for all C&B matters within assigned scope.
• Run pay review and bonus cycles in assigned locations
• Implement the Bank’s strategy on digitizing Rewards processes. Look for opportunities to enhance user experience.
• Work with vendors on devising new concepts/applications for enhancing the existing user journeys for processes using scalable solutions
• Analyse the data generated through the compensation surveys, work with Head of Rewards to recommend and implement changes to the compensation and benefits practices in line with the Bank’s overall compensation philosophy to help maintain the competitive pay position of the Bank.
• Review Pay bands on an annual basis for every country and provide management with cost impact analysis for implementation of the new pay bands
• For each Country, initiate dipstick surveys and / or participate those conducted by banks for comparison with on or changes to various compensation and benefits practices. Utilize such information for proposed interim changes that would enhance the ability to attract and retain talent
• Provide consultation to BPs and leadership in matters relating to policy clarification and interpretation
• Ensure uniformity in policies for all Mashreq locations under remit
• Ensure the statutory requirements and labour law related to C&B is adhered to in assigned locations.
• Develop and maintain Rewards Policies, Benefits Matrices and ensure proper communication of the Banks’ compensation and benefits to all relevant parties.
• Ensure policy changes are communicated. Ensure accurate and up-to-date comparison of all policies on a regular basis.
• Document Standard Operating Procedures (SOPs) for new and existing processes to ensure uniformity with understanding and implementation.
• Serve as a subject-matter expert for all C&B matters within the assigned scope, providing guidance and expertise to stakeholders.
• Manage pay review and bonus cycles for assigned locations, ensuring timely and accurate implementation.
• Lead the digitization of rewards processes, identifying opportunities to enhance user experiences and streamline operations.
• Collaborate with vendors to develop new concepts and applications, utilizing scalable solutions to improve existing user journeys.
• Analyze compensation survey data and work with the Head of Rewards to recommend and implement changes, aligning with the bank's compensation philosophy.
• Review and update pay bands annually for each country, providing management with cost impact analyses for informed decision-making.
• Initiate and participate in dipstick surveys to compare compensation and benefits practices with industry peers, identifying areas for improvement.
• Provide consultative support to business partners and leadership on policy clarification and interpretation, ensuring consistent application.
• Ensure uniformity in C&B policies across all Mashreq locations, maintaining a cohesive and compliant approach.
• Stay updated on statutory requirements and labor laws related to C&B, ensuring compliance in all assigned locations.
• UAE National with a strong background in compensation and benefits management, preferably in the banking or financial services industry.
• Minimum of 10 years of experience in a similar role, with a proven track record of developing and implementing successful C&B strategies.
• Excellent knowledge of compensation and benefits practices, including market trends, survey data, and benchmarking.
• Strong analytical and problem-solving skills, with the ability to interpret data and make informed recommendations.
• Proficiency in using HRIS systems and experience in digitizing and automating rewards processes.
• Excellent communication and interpersonal skills, with the ability to build strong relationships with stakeholders.
• Ability to work independently and manage multiple projects simultaneously, with a high level of organization and attention to detail.
• Strong leadership and team management skills, with a collaborative and inclusive approach.
• Up-to-date knowledge of labor laws and statutory requirements related to C&B in multiple countries.
• A bachelor's degree in Human Resources, Business Administration, or a related field is preferred.