Process Developer
Genpact
2 - 5 years
Chennai
Posted: 03/09/2024
Getting a referral is 5x more effective than applying directly
Job Description
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.
About Company
Genpact is a global professional services firm delivering digital transformation by putting digital and data to work to create competitive advantage.
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