Incentive Compensation Administrator

Position / Job: Incentive Compensation Administrator

Department: Global Commercial Excellence within Corporate Development

Location: Pune, India

Global Org Commercial Excellence: Sales Force Effectiveness

Reports to: Local Head / Global Lead

Purpose / Key Responsibilities:

• Compensation Administration & Processing
• Administer and maintain the specific Market Units incentive compensation plans, ensuring accurate and timely calculations and payouts
• Validate commission and bonus calculations based on performance metrics, contracts, and company policies
• Ensure data integrity in compensation-related systems and coordinate necessary updates

Major Duties & Responsibilities:

Analysis & Reporting:

• Generate and analyse reports on compensation performance, trends, and variances
• Develop dashboards and reports for senior management to assess incentive effectiveness
• Provide financial modelling and forecasting for incentive compensation planning

Compensation Calculations & Processing:

• Administer IC plans, ensuring accurate and timely payments
• Calculate commissions, bonuses, and other performance-based rewards
• Validate compensation data
• Maintain and update records accordingly

Stakeholder Collaboration & Support:

• Partner with HR, Finance, and Sales teams to optimize incentive structures and resolve discrepancies
• Serve as a point of contact for employee inquiries related to incentive compensation
• Educate employees on incentive compensation policies, structures, and changes

System & Process Optimization:

• Assist in the implementation and maintenance of compensation software and automation tools
• Identify and recommend process improvements to enhance efficiency and accuracy

Compliance & Risk Management:

• Ensure compliance with local offshore regulatory frameworks, tax laws, and global compensation policies
• Assist with internal and external audits, providing necessary documentation and justifications
• Work closely with legal and finance teams to align compensation plans with business goals and industry best practices

Education & Certifications:

• Bachelor's degree in finance, Accounting, Business Administration, or a related field
• Professional certifications in compensation management (e.g., CCP, GRP) are a plus

Experience:

• 3+ years of experience in incentive compensation administration, preferably within an offshore financial or commercial environment /3+ years of professional experience preferably in Pharma/MedTech/Life Science industry
• Experience with incentive compensation software (e.g. Axtria, Zaidyn, IQVIA, Sales force.com , Xactly, SAP Commissions, Varicent) is an advantage.

Skills & Competencies:

• Strong analytical and quantitative skills, with proficiency in Excel and financial modelling
• Familiarity with offshore tax laws, compliance regulations, and compensation frameworks
• Attention to detail with the ability to manage large datasets and ensure accuracy Strong communication and stakeholder management skills
• Ability to work in a fast-paced, global business environment