Process Specialist - DC

Principal Financial Group; Pune District; On-site; INR 500,000 - 700,000; Full time

Job summary

Principal Financial Group in Pune, India is seeking a back-office payments specialist to manage US Retirement (Defined Contribution 401(k)) payout processes, including benefit event distributions, and distributions compliance.

The role requires 2-4 years of experience, night shift, proficiency in MS Office, strong analytics, and excellent communication. You will ensure data accuracy and regulatory compliance while delivering high-quality service.

Qualifications

• Bachelor's or Master's degree in Finance preferred.
• 2-4 years of relevant back-office experience.
• Knowledge of US Retirement/Pensions domain required.
• Experience with Benefit Event Distributions and 1099R reporting is a plus.
• Excellent written and verbal communication and strong analytical skills.

Responsibilities

• Process and prioritize daily work to meet customer service goals.
• Handle complex payouts and communicate with customers on data and requests.
• Apply problem-solving techniques for efficient processing.
• Document work following internal procedures.
• Report customer concerns to Client Service Associate/Consultant.
• Validate plan and contract records accuracy.
• Maintain expertise in payouts system operations.
• Develop knowledge of pension 401(k) documents and Total Retirement Suite concepts.
• Collaborate with team members to resolve complex situations.
• Ensure compliance with information security and regulatory requirements.
• Deliver high-quality work to enhance client satisfaction and profitability.
• Build effective partnerships with peers.
• Adapt to business needs and follow company policies.

Skills

Night shift

MS Office

Typing speed

Analytical skills

Communication skills

Reading comprehension

Education

Bachelor's or Master's degree in Finance

Tools

Payouts system

Job description

Additional Information

• Night shift work schedule required


• Proficient in MS Office


• Standard typing speed required


• Strong analytical capabilities


• Excellent written and verbal communication skills


• Good comprehension skills


• 2-4 years minimum experience in back-office operations


• US Retirement 401 (k) Defined Contribution financial institution experience preferred

Role Description

A skilled professional needed to handle Payouts for US Retirement domain (Defined Contribution 401 (k) plans). The role involves processing Benefit Event Distributions (Cash, Rollover etc.), Required Minimum Distribution, Withdrawals etc., providing customer service, and ensuring compliance with regulatory requirements within defined Productivity and Quality standards.

Responsibilities

• Process and prioritize daily work to meet customer service goals


• Handle complex payouts and communicate with customers regarding data and special requests


• Implement problem-solving techniques for efficient processing


• Document work following internal procedures


• Report customer concerns to Client Service Associate/Consultant


• Validate plan and contract records accuracy


• Maintain expertise in payouts system operations


• Develop knowledge of pension 401(k) documents and Total Retirement Suite concepts


• Collaborate with team members to resolve complex situations


• Ensure compliance with information security and regulatory requirements


• Deliver high-quality work to enhance client satisfaction and profitability


• Build effective partnerships with peers


• Adapt to business needs and follow company policies

Qualifications

• Bachelor's or Master's degree in Finance preferred


• 2-4 years of relevant experience in back-office operations


• Knowledge of US Retirement/Pensions domain required


• Experience in handling Payouts like Benefit event Distributions, Required Minimum Distribution, In service withdrawals and 1099R tax reporting will be an added advantage

This position offers an opportunity to work with a dynamic team in the retirement and pension services sector, requiring attention to detail, strong analytical skills, and commitment to customer service excellence.