Genpact Hiring For Retirements- Defined Benefit- Pune & Bangalore

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.

Genpact Hiring for US Retirements - Defined benefit - Pune & Bangalore

About the team:

• Retirement BPaaS provides services to U.S based Third Party Administrators in managing day to day Recordkeeping operations, Compliance Testing & Reporting of Defined Contribution plans.
• All these services are catered to Retirement clients via Retirement Products.

What you will be doing:

• A Specialist (Compliance) Processor / Analyst is responsible to handle High Complex Testing, research, reporting and Form 5500 filing of retirement plan activities as aligned.
• Compliance Plan Queue monitoring might be an added responsibility ensuring all activities are completed within TAT.
• Additional quality checks ensure end to end Plan Testing is completed with 100% quality in first instance.
• Coordinate with other Operations group to ensure follow-up testing activities in OMNI / Relius are completed within deadline.
• There may also be a need to coordinate with internal departments on application or hardware issues related to daily functions.
• Be a SME in the assigned group or process.

Process Management:

• Support meeting Service Level Agreements for TAT, utilization, productivity & 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. per responsibility assigned.
• Handle query resolution for new hires in the group as assigned.
• Support New Hire on-boarding process Work with internal departments to research issues related to applications and support of the client.

Knowledge Transition & Process Improvement:

• Build strong understanding of Compliance process and core recordkeeping systems and understand how they work and connect.
• Handle the transition of work from client/ on-site center to GDO and work with the on-site team to improve workflow, SOPs, and quality.
• Analyze existing systems and processes to identify gaps and opportunities for cost/ quality/ process improvements.
  
  

Skills and Knowledge / Experience:

• Required Relevant expertise in Defined Benefits.
• Good Exposure to Different DB Plans like FAP, CAP, Cash Balance.
• Proficiency using MS Office Suit with good knowledge of MS Excel.
• Good Knowledge in DB Manual Calculation.
• Exposure in Death calculations.
• Exposure in RMDs, QDRO and Lumpsum Windows.
• Exposure in US Tax Forms like 1099R, W2
• Expertise in Pension Reconciliation and Pension Payrolls.
  
  

Desired Knowledge / Experience:

• Previous experience of Relius Administration would be a significant plus.
• Should be a dependable resource with a willingness to work stretched hours (if required).

Academic Qualifications:

Masters / bachelors degree in accounting, Business Management /Administration or the equivalent combination of education, training, or work experience.

Core Competencies:

• In-depth knowledge of retirement services industry practices, regulations, and processes
• Understanding of Relius recordkeeping software.
• Excellent verbal, written and articulation communication skills.
• Good coordination and collaborative skills to work with different groups to complete assigned responsibilities.

Genpact is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, religion or belief, sex, age, national origin, citizenship status, marital status, military/veteran status, genetic information, sexual orientation, gender identity, physical or mental disability or any other characteristic protected by applicable laws. Genpact is committed to creating a dynamic work environment that values diversity and inclusion, respect and integrity, customer focus, and innovation. For more information, visit www.genpact.com.

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Furthermore, please do note that Genpact does not charge fees to process job applications and applicants are not required to pay to participate in our hiring process in any other way. Examples of such scams include purchasing a 'starter kit,' paying to apply, or purchasing equipment or training.