Customer Service Associate - Retirement Solutions Policy Administration

Customer Service Associate

Skill required: Retirement Solutions - Data Entry Services
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? Policy Administration Associate/Analyst– Individual Retirement We are seeking a detail-oriented professional to deliver end-to-end policy administration services for Individual Retirement products—such as Traditional & Roth IRAs, SIMPLE IRAs, and Individual Annuities. The role focuses on accurate policy lifecycle processing, service delivery excellence, regulatory compliance, and stakeholder communication across clients, advisors, and custodians. This position is ideal for someone with strong operations rigor, retirement product knowledge, and a passion for customer advocacy.
What are we looking for? Annuity Policy Lifecycle Administration • Process contributions, rollovers, transfers of assets (TOA/ACAT), exchanges, and recharacterizations. • Execute distributions (systematic and ad-hoc), including Required Minimum Distributions (RMDs), withholding elections, and tax coding. • Handle policy changes Financial and Nonfinancial transactions (beneficiary updates, address changes, ownership updates, annuitization, riders, surrenders, reinstatements). • Manage premium allocations, fund switches/rebalances, loan/cash value requests (for relevant annuity products) • Manager policy exchanges and transfers and financial distribution Servicing & Issue Resolution • Research and resolve servicing requests, exceptions, and breakages (e.g., NIGO – Not In Good Order items). • Monitor and action work queues within SLAs; escalate risks and aging items proactively. • Coordinate with custodians, transfer agents, advisors, broker-dealers, and internal teams (underwriting, compliance, finance). • Prepare and deliver policy statements, confirmations, and communications. Compliance, Risk & Controls • Adhere to applicable regulations and standards (e.g., IRS rules for contributions/RMDs, ERISA where applicable to rollovers, AML/KYC, OFAC, privacy). Required Qualifications • Bachelor’s degree • 1-3 years (Associate) & 2–5 years (Analyst) experience in life/retirement operations, transfer agency, or policy administration. • Working knowledge of Individual Retirement products (Traditional/Roth /SIMPLE IRAs, Non-Qualified/Qualified Annuities) and common transactions (rollovers, transfers, RMDs, annuitization, surrenders). • Familiarity with IRS retirement rules, tax withholding/elections, and forms impact (e.g., 1099-R, 5498). • Experience with workflow/case management and imaging systems; strong MS Excel skills. Preferred Qualifications • Prior experience with US custodians/transfer agents, broker-dealers, or life/annuity carriers. • Knowledge of ACAT/Non-ACAT transfers, RMD calculations, beneficiary/claim processing, and death claim workflows. • Exposure to QA frameworks, audit support, and SOX-aligned controls. • Certifications: LOMA, FINRA SIE (nice to have), Lean Six Sigma (Yellow/Green Belt). Core Skills • Operations Rigor: Accuracy, documentation discipline, queue management, and SLA adherence. • Analytical & Reconciliation: Exception handling, break resolution, root cause analysis. • Communication: Clear written/verbal updates to
Roles and Responsibilities: •Annuity Policy Lifecycle Administration • Process contributions, rollovers, transfers of assets (TOA/ACAT), exchanges, and recharacterizations. • Execute distributions (systematic and ad-hoc), including Required Minimum Distributions (RMDs), withholding elections, and tax coding. • Handle policy changes Financial and Nonfinancial transactions (beneficiary updates, address changes, ownership updates, annuitization, riders, surrenders, reinstatements). • Manage premium allocations, fund switches/rebalances, loan/cash value requests (for relevant annuity products) • Manager policy exchanges and transfers and financial distribution Servicing & Issue Resolution • Research and resolve servicing requests, exceptions, and breakages (e.g., NIGO – Not In Good Order items). • Monitor and action work queues within SLAs; escalate risks and aging items proactively. • Coordinate with custodians, transfer agents, advisors, broker-dealers, and internal teams (underwriting, compliance, finance). • Prepare and deliver policy statements, confirmations, and communications. Compliance, Risk & Controls • Adhere to applicable regulations and standards (e.g., IRS rules for contributions/RMDs, ERISA where applicable to rollovers, AML/KYC, OFAC, privacy). • Apply correct tax forms/coding (1099-R, 5498) inputs to downstream processes; ensure audit trails and documentation completeness. • Execute controls: maker-checker, 4-eye review for high-risk transactions, reconciliation, and SOX-aligned procedures where applicable. • Support audits, QA reviews, and control testing; remediate findings. Service Excellence & Continuous Improvement • Meet or exceed SLAs, quality targets, and customer satisfaction measures. • Identify process gaps and drive improvements/automation (Lean/Kaizen mindset). • Contribute to SOPs, job aids, and training materials.