Process Developer

3 months ago

Pune, 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.
 


Inviting applications for the role of Associate / Process Developer – Retirement function
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 Qualifications
• 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 Qualifications/ Skills
• Ability to be flexible and adapt to constantly changing priorities
• Proficiency in retirement plan record-keeping systems and Microsoft Office applications.
• 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”

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