Retirement Plan Operations Specialist
3 weeks ago
About the Role:
We are seeking a highly skilled Retirement Plan Operations Specialist to join our team at Genpact. As a key member of our Compliance team, you will be responsible for managing day-to-day Recordkeeping operations, Compliance Testing & Reporting of Defined Contribution plans. This includes performing Actual Deferral & Actual Contribution Percentage (ADP & ACP), Coverage Test (410b), Excess Deferral (402g), Compensation (414s), Annual Additions (415), Non – Discrimination (NDT) Tests and Form 5500 Filing for Large & complex Retirement Plans.
Responsibilities:
- Manage high complex testing, research, reporting, and Form 5500 filing of retirement plan activities.
- Monitor compliance plan queues and ensure all activities are completed within target timelines.
- Perform additional quality checks to ensure end-to-end Plan Testing is completed with 100% quality in the first instance.
- Coordinate with other Operations groups to ensure follow-up testing activities in OMNI / Relius are completed within deadlines.
- Be a Subject Matter Expert (SME) in the assigned group or process.
- Support meeting Service Level Agreements for TAT, utilization, productivity, and quality.
- Maintain and analyze process queue status and reports as assigned.
- Review, research, and provide feedback on processing discrepancies/errors to prevent recurrence.
- Participate and transfer information to all associates on a timely basis via regular team meetings.
- Handle query resolution for new hires in the group as assigned.
- Support New Hire on-boarding process.
- Analyze existing systems and processes to identify gaps and opportunities for cost, quality, and process improvements.
Qualifications:
- Masters / Bachelor's degree in Accounting, Business Management / Administration, or the equivalent combination of education, training, or work experience.
- Prior experience in leading a team of approximately 5-10 FTE is essential.
- Previous experience of Relius Administration would be a significant plus.
Preferred Qualifications/Skills:
- Relevant industry experience primarily in US Retirement Compliance Domain.
- Hands-on experience of research in Relius suite of products.
- Strong understanding of concepts and terminology of financial services industry, especially in Retirement (DC).
- Prior Compliance Testing & Form 5500 filing knowledge, transition experience is essential.
- Hands-on experience in handling Queue management.
- Well-versed with MS Office applications (Word, Excel & PowerPoint, Teams, etc.).
- A 'can-do' attitude and the ability to work in a team environment and adapt to change is essential.
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