Business Process Architect

Project Role :Business Process Architect


Project Role Description :Design business processes, including characteristics and key performance indicators (KPIs), to meet process and functional requirements. Work closely with the Application Architect to create the process blueprint and establish business process requirements to drive out application requirements and metrics. Assist in quality management reviews, ensure all business and design requirements are met. Educate stakeholders to ensure a complete understanding of the designs.
Must have skills :Retirement Planning Services

Good to have skills :Requirements Analysis
Minimum 5 year(s) of experience is required

Educational Qualification :degree
Summary:As a Business Process Architect, you will be responsible for designing business processes, including characteristics and key performance indicators (KPIs), to meet process and functional requirements. Your typical day will involve working closely with the Application Architect to create the process blueprint and establish business process requirements to drive out application requirements and metrics. You will also assist in quality management reviews and ensure all business and design requirements are met. Additionally, you will educate stakeholders to ensure a complete understanding of the designs.In this role, you will play a pivotal role in identifying and driving impactful improvements across our services, helping us deliver exceptional value to our clients as they plan for and navigate their retirement journey.
Roles & Responsibilities:

Conduct in-depth analysis of business processes, systems, and data to identify opportunities for improvement and optimization.

Partner with key stakeholders across the organization to understand needs, challenges, and objectives.

Elicit, document, and analyze business requirements for new initiatives, projects, and enhancements.

Develop clear and concise user stories and functional specifications.

Evaluate potential solutions and technologies, assessing their feasibility, cost-effectiveness, and impact.

Collaborate with IT teams to translate business requirements into technical specifications.

Manage project scope, timelines, and resources, ensuring projects are delivered on time and within budget.

Create and maintain comprehensive documentation, including requirements documents, process maps, and user guides.

Present findings and recommendations to stakeholders in a clear and compelling manner.

Stay up-to-date on industry trends and best practices in retirement services. Professional & Technical Skills:

2-years of experience as a Business Analyst, preferably in the financial services or retirement services industry.

Deep experience/knowledge in more than 2 of the following areas Institutional Servicing (remittance services, plan management, sponsor management), Distributed Transactions (Money In - Money Out , Transaction Mgmt, accumulation-deaccumulation), Offer Selection and Mgmt (Onboarding (plan/sponsor/participant, setup & change ), Education & Advice (Retirement advisory, Financial Wellness), Participant management, Account Management ( Customer Profile, Customer Account information, Saving and Investing), reporting, customer service, Annuity Servicing, Engagement & Distributions (Enrollment and Onboarding), Financial products ( Defined Contributions, Lifetime Investment Solutions) Marketing ( Messaging and Communications).

Working experience on Agile, DevOps. Good to have experience working as a Scrum master.

Working experience on OMNI is preferred.

Strong analytical and problem-solving skills.

Excellent communication and presentation skills, both written and verbal.

Ability to work independently and as part of a team.

Proficient in MS Office Suite, with experience in data analysis tools preferred.

Knowledge of industry regulations and standards related to retirement plans a plus.Financial knowledge:

Types of retirement accounts:Deep understanding of various retirement accounts like IRAs, 401(k)s, Roth IRAs, pensions, and health savings accounts (HSAs).

Tax implications:Understanding of tax laws and regulations related to retirement savings and distributions.

Investment strategies:Familiarity with investment vehicles, asset allocation, and risk management strategies suitable for retirees.

Estate planning:Basic understanding of estate planning concepts and their impact on retirement assets.

Products and Services:Deep understanding of Retirement product offerings, including annuities, investment accounts, life insurance, and retirement planning tools.

Plan rules and regulations:Knowledge of plan specific rules, enrollment procedures, contribution limits, withdrawal options, and loan features.

Compliance requirements:Understanding of ERISA, SECURE Act 2.0 and other regulatory requirements governing retirement plans.

Data analysis:Ability to analyze plan data to identify trends, assess performance, and informed decision-making.

Recordkeeping Systems:Deep understanding of specialized recordkeeping systems used for managing retirement plan data, including participant demographics, contributions, investments, distributions, and benefit payments. Additional Information:

Problem-solving and Analytical Skills:Ability to identify and resolve discrepancies in data, investigate missing information, and analyze recordkeeping trends.

Project Management:Experience managing recordkeeping-related projects on time and within budget.

Attention to Detail:Ability to work meticulously and ensure accuracy in recordkeeping tasks.Qualificationsdegree