Retirement Plan Operations Specialist

3 weeks ago


Chennai, Tamil Nadu, India Genpact Full time

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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