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First of all, there’s a fundamental difference between authentication and access control vs. encryption, i.e. in your case NTFS vs. AxCrypt. See http://www.axcrypt.net/blog/encryption-vs-authentication/ for a detailed discussion.
From what I can, AxCrypt can handle your requirements with the Premium function (it does require a small amount of co-operation from the ‘normal’ HR Managers.
Each user would simply designate their own folder (or any folders) as a Secured Folder, and set Key Sharing by adding the Senior Managers e-mail.
All files in such a folder will be accessible (decryptable/openable) by the ‘normal’ HR Manager (the owner as it were) and the Senior Manager and no-one else. The ‘normal’ HR Manager and the Senior Manager would user their own personal passwords to sign in to AxCrypt and will never have to share any passwords.
If I understood the requirements correctly, it’s pretty much a perfect fit.