Chennai, TN IN
Bachelor's Degree (±16 years)
Specialist - Operations Processing
Business Unit Overview
Defined Benefits, Operations and Implementations group supports our business partners in the US in servicing corporate / institutional customers in benefits administration vertical. The scope of the team involves supporting post implementation activities such as Processing Recurring/Regulatory Projects listed in the Client Contract such as MRD, FICA, COLA etc. and on-going record-keeping needs. This is done through a series of processes, both technical and non-technical, that helps a customer to use our products and services.
Under general supervision, the associate will be responsible for accurate and timely processing of pension calculations of Low to High complexity in a multi-client environment. Associate must understand fidelity systems, learn and process financial transactions on respective client database. They should also work closely with upstream and downstream processes for the overall service to the end client / participant.
Calculation work involves the following activities:
Send out projection calculation of retirement benefits and forms to participants on request.
Address quires from participants
Process final calculation once the participant/ beneficiary decide to commence his benefits and his forms are processed by retirement initiation team
Manually calculating and reviewing pension benefits for plan participants
Roles & Responsibilities
Pension calculation based on customer request received through Customer Service Group or online request.
Process various types of pension benefit requests like estimates, termination benefits and final benefits.
Benefit calculation should be performed by referring to the plan guidelines for respective clients.
Identifying the calculation related system issues and fixing the same within the defined timeliness and accuracy standards.
Provide support to internal client focusing teams (Issue Resolution, Audit & Control, Client Service Manager’s etc.)
Work towards building functional knowledge and serving as the subject matter expert on assigned clients;
High quality of work with a strong customer orientation.
Ensure timely completion of transaction based on the turnaround agreed on the request type
Ensure accurate and timely processing of pension benefits.
Contribute to the team environment and overall effective services provided to Fidelity’s client base.
Take initiative to undergo training to enhance their individual job performance.
Validating and provide inputs to update User Procedure Documentation (UPD).
Provide back-up coverage for other transaction processors, as needed
List of skills required
- Excellent verbal and written communication skills required.
- Strong Comprehension skills. Good at interpretation of plan documents.
- Strong Problem Solving Skills and implementing solutions
- Good at numbers(numerical ability)
- Logical reasoning and Analytical thinking
- Service mid set – Customer or Participant focus
- Strong PC Software skills (i.e. Excel, Outlook and Word)
- Strong organizational skills and attention to detail
- Ability to learn and adapt to changes and new processes
- Motivated and committed to excellence; positive attitude and “can do” work ethic.
- Adapt to change
- Be flexible with workload and accommodate internal and external client needs
- Willingness to work in “Night Shifts”
- Work in a team environment
Education and Experience
- Bachelor’s Degree (Mathematics, Finance or Business) or equivalent is mandatory
- Actuarial background is preferred
- 2 Years of Exp.