Process Specialist - DC

Principal Global Services; Pune District; On-site; INR 500,000 - 750,000; Full time

Job summary

Principal Global Services seeks a detail-oriented professional to handle payouts for US Retirement (Defined Contribution 401(k) plans). The role involves processing benefit event distributions, required minimum distributions, withdrawals and tax reporting while ensuring regulatory compliance and strong customer service.

Responsibilities include prioritizing daily work, resolving data-related requests, and maintaining accuracy in plan records and payouts systems.

Qualifications

• Bachelor's or Master's degree in Finance preferred.
• 2-4 years of back-office operations experience.
• Knowledge of US Retirement/Pensions domain required.
• Experience with payout types like Benefit Event Distributions, RMD, and 1099R tax reporting is a plus.

Responsibilities

• Process and prioritize daily work to meet customer service goals.
• Handle 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 the appropriate supervisor.
• Validate plan and contract records accuracy.
• Maintain expertise in payouts system operations.
• 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

Payout processing

Customer service

Regulatory compliance

Data communication

Education

Bachelor's or Master's degree in Finance

Tools

MS Office

Job description

What You'll Do

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.

• 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

Who You Are

• 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.

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