Specialist Deconversion

Empower Global Business Services India Private Limited; Bengaluru; On-site; INR 600,000 - 900,000; Full time

Job summary

Empower Global Business Services India Private Limited is seeking a detail-oriented finance operations professional to support Plan Termination and Contract Termination activities for existing clients. You will manage daily BAU tasks, audits, and timely communications with stakeholders.

The role requires accuracy and adherence to regulatory considerations, with opportunities to collaborate across teams and participate in onshore calls.

Qualifications

• Bachelor’s degree (preferably in business)
• 2+ years in financial operations or related fields
• Experience in DeConversion/Implementation is a plus
• Strong attention to detail and communication skills
• Flexibility to work US shift

Responsibilities

• Perform daily BAU & audits for De-Conversion activities with timely follow-up
• Escalate delays or issues as needed
• Contribute inputs for self and team reporting
• Respond to emails promptly
• Participate in onshore calls when required
• Build working relationships with internal clients and peers

Skills

Attention to detail

Time management

Verbal communication

Written communication

Office 365

Education

Bachelor's degree

Tools

Office 365

Job description

Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them. Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.

JOB SUMMARY:

Team is responsible for Plan Termination and Contract Termination activity at a plan level for existing clients to Empower. Team performs following activities: Plan Termination: Plan Termination means terminating the plan from 401 (k) by Liquidating and Distributing entire plan balance to Participants post which there won’t be any record keeping of the plan. Contract Termination: Contract Termination refers to the process of transferring the assets and records of 401(k) Plan from Empower to new record keeper. It initiates transfer of all employees’ assets and records to the new provider either in full or partial contract termination. Activities performed by the team are highly critical, involve regulatory & monetary impacts which require adequate due diligence, timely response, timely escalation to responsible parties.

ESSENTIAL FUNCTIONS:

• Performing daily BAU & audits for De-Conversion (Activities are listed in overview section) Follows-up with various stakeholders for timely resolution.
• Timely escalation for any delay or issue
• Provide various input for self & team reporting.
• Responding to email on time.
• Participating in the onshore call when needed.
• Preferred knowledge in 401(K) Defined contributions.
• Excellent problem solving, analytical and verbal/written communication skills.
• Performs review of data and activity to prevent risk of loss due to errors.
• Develops working relationships with peers and management.
• Interacts with a wide audience, including internal clients.

EDUCATION:

Bachelor’s degree, preferably in a business-related field.

EXPERIENCE:

2+ years in financial operations (Preferred prior experience in Implementation/DeConversion background)

SKILLS/CHARACTERISTICS:

• Strong attention to detail
• Excellent time management
• Excellent verbal and written communication
• Basic knowledge of 0ffice 365 applications
• Flexible working in US shift

Results oriented: Take decisive action on opportunities to achieve specific outcomes; convey a sense of urgency when appropriate; persist in the face of obstacles; drives to outcomes that reflect meeting or exceeding a standard of excellence.

We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age, race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law.

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Remote and Hybrid Positions

For remote and hybrid positions you will be required to provide reliable high-speed internet with a wired connection as well as a place in your home to work with limited disruption.

You must have reliable connectivity from an internet service provider that is fiber, cable or DSL internet.

Other necessary computer equipment will be provided.

You may be required to work in the office if you do not have an adequate homework environment and the required internet connection.

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