Process Associate

1 month ago

Bengaluru Karnataka, India Genpact Full time

**Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose - the relentless pursuit of a world that works better for people - we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and **expertise** in data, technology, and AI.**

**In this role, **you will **be **responsible **for** all the activities related to **retirement,** benefits** in **US institutional retirement**.**

***

**Responsibilities**

**Demonstrate a solid understanding of various retirement plans such as 401(k), 403(b), **457, and** stay updated on relevant regulations affecting the retirement business**.**

**Maintain **accurate** contribution records for retirement participants enrolled in the **allocated** plan, ensuring compliance with regulatory requirements and plan guidelines**.**

**Assist** plan sponsors with the administration of their retirement plans, including tasks such as contribution calculation, non-standard trading, participant financial activity, and other complex record-keeping functions**.**

**Ensure that retirement plans adhere to all regulatory requirements, including IRS regulations, ERISA guidelines, and plan documents.**

**Coordinate with financial institutions and service providers to ensure **timely** and secure distribution of retirement benefits.**

**Manage participant enrollment processes, including verifying eligibility, processing enrollment forms, and updating participant information as needed.**

**Monitor service providers, investment managers, and other third parties to ensure compliance with fiduciary responsibilities**.**

**Address participant inquiries **regarding** contribution limits, eligibility requirements, and retirement planning resources**

**Assist** with investment management activities, such as fund transfers, rebalancing, and implementing investment changes.**

**Monitor investment performance and provide support in evaluating investment options.**

**Facilitate participant loan requests, ensuring compliance with plan rules and regulatory requirements**.**

**Conduct regular compliance reviews to ensure adherence to plan documents, IRS regulations, and other applicable laws**.**

**Communicate with plan sponsors, participants, and other stakeholders to address inquiries, resolve issues, and provide updates as needed.**

**Maintain positive relationships with clients and ensure **high levels** of satisfaction with services provided**.**

**Maintain **accurate** records of participant transactions, contributions, distributions, and other activities**.**

**Generate and distribute periodic statements, reports, and compliance filings as required & **identify** and address any compliance issues promptly and effectively**.**

**Qualifications we **seek** in you**

**Minimum **Q**ualifications**

**Bachelor’s degree in commerce or equivalent field**

**Basic understanding of retirement plans and regulatory requirements**

**Strong attention to detail and accuracy in data entry and record-keeping**

**Ability to work independently and collaboratively as part of a team**

**Good Written/Verbal Communication**

**E-mail Writing **proficiency**

**Preferred **Q**ualifications**/ Skills**

**Ability to be flexible and adapt to constantly changing priorities**

**Strong understanding of retirement plans, IRS regulations, and ERISA requirements.**

**Microsoft Office **proficiency**, especially Excel**

**Quality Lean/Process Improvement knowledge**

**Ability to work under pressure in a dynamic environment**

**Thirst for learning Analytical thinking and ability to learn fast**

**Ability to be pro-active and to think “creatively”**

**_Job_**_Process Associate_

**_ Primary Location_**_India-Bangalore_

**_ Schedule_**_Full-time_

**_ Education Level_**_Bachelor's / Graduation / Equivalent_

**_ Job Posting_**_Nov 8, 2024, 12:55:02 AM_

**_ Unposting Date_**_Ongoing_
- Master Skills List_Operations_
- Job Category_Full Time_

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