Responsibilities
About the Opportunity
A skilled professional needed to handle Payouts for US Retirement domain (Defined Contribution 401 (k) plans). This position requires processing Benefit Event Distributions such as Cash and Rollovers, mandatory minimum withdrawals, and other withdrawals. It also entails delivering customer service and adhering to regulatory requirements within set Efficiency and Quality standards.
What You'll Do
- Process and prioritize daily work to meet customer service goals
- Handle complex payouts and connect with offshore/onshore stakeholders 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 participant level 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 improve client happiness and profitability
- Build effective partnerships with peers
- Adapt to business needs and follow company policies
Qualifications
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 such as Benefit event Payments, Required Minimum Distribution, In service withdrawals and 1099R tax reporting will be an added advantage
- Additionally:
- 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
- US Retirement 401 (k) Defined Contribution financial institution experience preferred
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
Why Choose Principal
At Principal, we prioritize growing talent and maintaining a collaborative space where you can prosper. We bring:
- Opportunities to work on brand-new technologies and innovative projects.
- An encouraging and inclusive culture that values diversity.
- Continuous learning and development programs to help you achieve your career goals.
- Competitive compensation and benefits.
