Job Description

BUSINESS UNIT AND ROLE OVERVIEW

Human Capital Management (HCM) is at the forefront of supporting business growth and change at Goldman Sachs, and our people are at the centre of driving that change. We are looking for professionals with strong analytical and communication skills, innovative thinking, and intellectual curiosity. 

Our team is comprised of individuals who understand data, people, process, technology and operations. Our work is fast-paced and requires individuals to be proactive and have strong business acumen. HCM works across the organization and has stakeholders at all levels of the firm across all business areas. 

Reporting to the Head of Reward for India, this position will head Benefits & Wellness and will be expected to lead strategy, management, operations, governance/compliance and oversight of Benefits and Wellness programs for India. The team works closely with vendor partners and expert advisors to provide a high-quality offering to employees.

The ideal candidate will leverage their substantial benefits and wellness expertise to design and deliver comprehensive programmes to over 9,000 employees across the region. The candidate will work closely with other internal groups to deliver a best-in-class programme. This position is at the Vice President level and based in Bengaluru.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

STRATEGY

• Head Benefits and Wellness for India ensuring innovation and plan design that maximises the employee experience and associated benefits and wellness outcomes, whilst leveraging cost saving opportunities for the firm
• Drive and own management, design, governance and oversee administration of the Benefits
• programs along with reviewing metrics and drive annual renewals
• Manage policy and program management for Benefits related activities for Retirement (including Provident Fund, Gratuity, National Pension System), Insurance (Hospitalization, Life, AD&D) and other benefits
• Provident Fund (ensuring adherence to regulatory changes, dealing with authorities, compliance to the program, managing the administration and related activities)
• Oversight on other regulatory requirements as relates to labour laws
• Finance – work with vendors and internal Finance team to obtain and validate budgets and reforecasts aligned with firm’s finance guidelines
• Marketing and communications – work with internal communications teams to develop and implement marketing strategy for on-site and work and family programs to raise awareness and increase engagement with services
• Support strategy and ensure it is aligned to business requirements
• Develop and deliver the regional Wellness plan consistent with the global Wellness strategy and regional needs
• Lead policy reviews on ongoing basis ensuring critical review, compliance with internal requirements as well local regulation and legislation
• Partner with the global team on cross regional projects including cross regional and cross functional working group activity

GOVERNANCE: 

• Ensure compliance of all pension and benefit programmes in line with internal policy and local regulation and legislation
• Responsibility for managing Trust governance and supporting Trustee Boards and consultative committees 
• Support the development of Global Governance and Policy and ensure India benefit programmes operate within the global governance framework

OPERATIONS: 

• Oversight of day-to-day management of benefit programmes, including finding and plugging gaps in processes 
• Manage effective routine delivery of the India benefits administration process via third party administrators including payroll files, tax data and vendor enrolment transactions. Identify and implement ongoing opportunities to automate processes and gain efficiencies across all India locations
• Drive ongoing development of management reporting across all areas of benefits and wellness to enable global parity
• Oversee the management of vendor service providers including budget, performance and innovation and ensure the consistent application of standard processes related to procurement, renewal, key performance indicators, technology risks, fee structures, etc. across Benefits and Wellness vendors and related contracts.
• Set and manage budgets for relevant Benefits and Wellness initiatives across India, working with both local and global teams to address questions, prepare budgets, and present analyses / reporting to senior stakeholders
• Managing key stakeholders and vendors, ensuring compliance in local jurisdictions and leveraging opportunities to increase the quality of benefits offering

PEOPLE MANAGEMENT:

• Direct line management of Wellness and Benefits team members
• Ability to manage, motivate and drive performance of the team

OTHER: 

• Provide advisory service to the business including postings, presentations and the delivery of other stakeholder management documentation
• Procurement – Assist with all procurement activity related to managed vendors including technology, contract renewals/extension and RFP activity
• Benchmarking – proactively stay abreast of industry best practice and competitor activity and drive benchmarking and market intelligence as relates to benefits and wellness programs

SKILLS / REQUIREMENTS

• 10+ years of India Benefits and Wellness experience with focus on Retirement Benefits, Insurance and benefits payroll systems.
• Experience of Global Pensions and Benefits an advantage
• Strong project management and organization skills with superior attention to detail and excellent follow-through
• Results-oriented; ability to successfully manage multiple tasks, take initiative to improve own performance, and ability to work intensely towards extremely challenging goals in the face of obstacles or setbacks
• Ability to develop relationships with people at all levels of the organization and a broad base of stakeholders
• Strong communication, influencing and persuasion skills and comfortable working in a global team that both welcomes and challenges new ideas
• Strong analytical and problem-solving skills; ability to perform detailed analysis of problems and identify resolutions; understands when and how to escalate issues to manage risk
• Innovative approach with ability and appetite to challenge existing policies and processes
• Creative strength to transform abstract ideas into tangible actions/products
• Ability to operate in a matrixed work environment where teams may be spread across multiple locations
• Self-starting and enthusiastic in approach to work
• Strong understanding of finance and metrics management and reporting
• Advanced computer literacy: Advanced Microsoft Office and Excel skills a requirement

ABOUT GOLDMAN SACHS

At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world. 

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers. 

We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

© The Goldman Sachs Group, Inc., 2023. All rights reserved.

Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.