Customer Service Associate - Retirement Solutions Payment Operations

Customer Service Associate

Skill required: Retirement Solutions - Payment Operations
Designation: Customer Service Associate
Qualifications:Any Graduation
Years of Experience:1 to 3 years
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security.Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services, and Accenture Song— all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 784,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.Visit us at www.accenture.com
What would you do? • The team is responsible for supporting the requests initiated by participant calls and inquiries related to Money Out, Loan processing, Payroll processing, monetary and non-monetary transactions. • Day-to-day responsibilities include processing participant level transactions/requests such as: o Money Out: providing end-to-end support in any type of withdrawal processing, EFT Verification, Inbound outbound calls with vendors or stakeholder, Daily Reconciliation for NAV plans, Payment corrections, Failed Rollovers, Address or name change requests, Qualified Charitable Distributions, Lost property handling, management and coordination with various vendors, 1099R Reprints and Corrections, NIGO Handling & Exception Management o Loan processing: managing initiation, amortization schedules, repayments, closures and ensure compliance with loan provisions, Loan Re-amortizati o Deposit administration: Cash Receipt, Financial Accounting statements (FASB invoices), ACH Balancing and ACH Failures, Receipt of premium/wires, maintenance, Cash processing, Remittance reconciliation, Unallocated Funds, Transfers In/Out, Rollovers, Individual Contribution, Direct Transfer Payments, Corrective Contributions, Payroll contributions. NIGO Handling & Exception Management o Individual Product: Annuity Contract, Benefit Estimates, 457(b) Eligible Deferred Compensation, Flexible Premium Annuity (FPA) Annuitization, Minimum Distributions_ Calculations IRA • Perform late-day sweeps and resolve failed ACHs by the next morning. • Manage and process daily cash transactions and remittances. Execute daily and night cycle cash edits. • Handle remittances and manage rollover cases, Process non-standard payments and off-platform funding. Forward relevant entries to Finance for ledger posting • Monitor and reconcile daily deposit transactions and resolve discrepancies. • Handle inbound and outbound calls with clients, third-party administrators, and internal partners to address inquiries and provide updates. • Deliver voice support and issue resolution with professionalism, clarity, and a client-first approach. • Strict adherence to non-disclosure of client information by preserving client confidentiality. • Complies with all client policies, procedures, and Federal/State/Local regulations and escalates issues to the management. • Researching any queries/ requests sent by the Business Partners/Client Support Teams and replying to the same with minimum response time. • Taking active participation in p
What are we looking for? 2-3 years of functional expertise in US Retirement Plansincluding both Defined Contribution (DC) and Defined Benefit (DB) schemes, with a strong focus on managing participant -level services and operations. • Extensive expertise in cash receipts/deposits, Loan processing, Deposit Admin (payroll administration), proficient in money-out processes such as in-service and hardship withdrawals, rollover and lump sum distributions, RMDs, and complex payouts. • Hands on with developing process documentation, capturing exceptions, process flow, process maps and NIGO rules • Subject Matter Expert/ Trainer with 2+ years of experience in remote transitions, developing quality checklists, performing RCA, and developing action plans to improve quality performance. • Mandatory experience in 401(k) and/or 403(b) plan administration, including day-to-day operations, compliance, and client servicing. • Excellent verbal and written communication skills; voice support experience required • ASPPA certified o Retirement Plan Fundamentals – RPF o Qualified 401(k) Administrator - QKA o Qualified 401(k) Consultant- QKC
Roles and Responsibilities: •In this role you are required to solve routine problems, largely through precedent and referral to general guidelines • Your expected interactions are within your own team and direct supervisor • You will be provided detailed to moderate level of instruction on daily work tasks and detailed instruction on new assignments • The decisions that you make would impact your own work • You will be an individual contributor as a part of a team, with a predetermined, focused scope of work • Please note that this role may require you to work in rotational shifts