Infosys BPM: 401K Benefits/Leave Benefits Admin
Company: Infosys BPM
Location: Jaipur
Experience Required: 1 – 3 years
Employment Type: Full-time, Permanent
Shift: US Shift
Posted: 1 day ago
Openings: 10
Applicants: 19
About Infosys BPM
Infosys BPM is a leading global provider of Business Process Management (BPM) services, offering end-to-end transformative solutions across industries. As a part of Infosys Limited, one of the world’s largest and most innovative IT consulting firms, Infosys BPM has a strong reputation for driving business excellence and digital transformation through its cutting-edge technology platforms, automation, and ongoing productivity improvements.
At Infosys BPM, we empower businesses to achieve their cost reduction objectives, enhance process efficiencies, and deliver superior customer experiences by leveraging innovative frameworks and process reengineering. Our mission is to help clients unlock business value by transforming their operations and overcoming their most pressing challenges.
With a dedicated focus on delivering exceptional service and building lasting relationships with clients, Infosys BPM provides comprehensive solutions tailored to the needs of businesses across industries such as banking, insurance, telecommunications, manufacturing, and retail. We continue to grow at a rapid pace and are committed to creating a work environment where employees are encouraged to thrive and develop their careers.
Job Overview: Infosys BPM
We are looking for a 401K Benefits/Leave Benefits Admin to join our team in Jaipur. As a member of our Human Resources team, you will be responsible for administering the 401K and leave benefits program for our employees. This role will involve working with various stakeholders, ensuring compliance, and handling key administrative duties such as data file validations, error report reviews, and managing retiree benefits.
The ideal candidate for this role will have 1-3 years of experience in benefits administration, with a strong understanding of 401K and leave benefits. You should be proficient in working with various benefit plans, conducting file reconciliations, and ensuring timely and accurate data processing.
Key Responsibilities
In your role as the 401K Benefits/Leave Benefits Admin, you will be expected to perform a variety of administrative tasks related to benefits management. Below are the key responsibilities associated with this position:
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401K Benefits Administration:
One of the primary responsibilities of this role is to ensure that the company’s 401K benefits program is managed effectively. This will involve working with both internal teams and external service providers to ensure accurate recordkeeping, regulatory compliance, and seamless execution.
- 401K File Validations: Perform weekly validation of 401K data files, ensuring accuracy and compliance with company policies and legal regulations.
- Error Report Reviews: Review error reports related to 401K contributions, loans, and deferrals. Correct any discrepancies and ensure that they are addressed in a timely manner.
- Reconciliation of Files: Conduct weekly reconciliations of 401K files, including deferrals and loans, to ensure that records match with the appropriate data from financial institutions.
- Eligibility Checks: Ensure that employees are eligible for 401K benefits according to company guidelines and regulations. This includes verifying DCP (Deferred Compensation Plan) eligibility files on a weekly basis.
- Report Generation: Run weekly reports to track 401K performance, flagging potential issues or areas that require further investigation.
- Employee Communication: Communicate with employees regarding any issues related to their 401K benefits, including clarification on contribution limits, loan eligibility, and other related concerns.
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Retiree Benefits Administration:
In addition to 401K administration, you will also be involved in managing benefits for retirees, ensuring that they receive the benefits to which they are entitled.
- Grandfathered Benefits Maintenance: Assist with the administration of grandfathered benefits, including running reports, comparing tables, and updating benefits as required. This includes initiating the pension process and adjusting life insurance amounts for retirees.
- Benefits Updates: Regularly update retiree benefits, including any changes to pension, life insurance, and other post-retirement benefits. Ensure that any updates are in line with company policies and legal regulations.
- Pension Processing: Initiate pension processes for retirees, ensuring all necessary documentation is provided and processed in a timely manner.
- Communication with Retirees: Handle inquiries and provide assistance to retirees regarding their benefits, including explaining changes or updates to their retirement packages.
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Leave of Absence (LOA) Administration:
As part of your role, you will also manage leave of absence requests for employees, ensuring that they are processed according to company policy and legal requirements.
- LOA Request Reviews: Review standard Leave of Absence (LOA) requests, including company and state leaves. Ensure that the requests are aligned with the company’s leave policies and statutory requirements.
- Eligibility Confirmation: Confirm the eligibility of employees for LOA based on their length of service, type of leave requested, and other relevant factors.
- Communication with Employees: Engage with employees, managers, and HR to confirm eligibility and provide information regarding the LOA process. Keep employees informed about the status of their requests.
- Documentation and Record-Keeping: Ensure that all documentation related to LOA requests is accurately recorded and maintained. This includes keeping track of leave balances, usage, and ensuring compliance with company policies and legal requirements.
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Reporting and Documentation:
You will be responsible for generating various reports and maintaining accurate records related to benefits administration. These reports will help the management team monitor benefits programs and ensure that they are being administered correctly.
- Weekly Reporting: Generate weekly reports for 401K benefits, LOA requests, and retiree benefits. These reports will be shared with HR and relevant stakeholders to track performance, issues, and compliance.
- File Maintenance: Ensure that all benefit-related files are accurately maintained and organized. This includes ensuring that both hard and soft copies of documents are available for audit purposes.
Qualifications and Skills
To succeed in this role, candidates must meet the following qualifications and possess the required skills:
Educational Qualifications:
- Degree: A full-time graduate degree in any discipline. A background in Human Resources, Business Administration, or a related field will be an advantage.
- Certifications: Any certifications related to benefits administration or HR operations are a plus.
Experience:
- Experience Required: 1-3 years of experience in benefits administration, with a strong focus on 401K and leave benefits.
- Experience with LOA and Retirement Benefits: Knowledge of handling Leave of Absence (LOA) requests and managing retiree benefits is essential.
Skills:
- Attention to Detail: This role requires meticulous attention to detail to ensure that all files and records are accurate and comply with legal and company standards.
- Communication Skills: Strong verbal and written communication skills are essential to communicate effectively with employees, management, and external partners.
- Problem-Solving Skills: The ability to identify discrepancies, review error reports, and take appropriate corrective actions.
- Technical Skills: Proficiency in Microsoft Excel and other reporting tools. Experience with HR software and benefits management systems is an advantage.
- Time Management: The ability to manage multiple tasks simultaneously, ensuring that deadlines are met, and work is completed on time.
Other Skills:
- Customer Service: Ability to provide excellent customer service by responding to employee inquiries promptly and efficiently.
- Confidentiality: A high level of discretion and confidentiality is required, as you will be dealing with sensitive employee and company data.
Benefits and Perks
Working at Infosys BPM comes with a wide range of benefits and perks:
- Competitive Salary: We offer a competitive salary package that rewards your skills and experience.
- 401K Benefits: Access to comprehensive 401K benefits, allowing you to plan for your future.
- Health and Wellness: Enjoy a comprehensive health benefits plan, including medical, dental, and vision coverage.
- Leave Benefits: Paid leave benefits, including vacation days, sick leave, and personal days.
- Work-Life Balance: A focus on work-life balance, with flexible working hours and a hybrid work environment.
- Career Development: Opportunities for continuous learning and professional growth through training programs, certifications, and mentorship.
- Inclusive Culture: A supportive and inclusive work environment where diversity is celebrated.
How to Apply
If you meet the qualifications for this role and are excited about joining a leading company in the BPM industry, we encourage you to apply. You can submit your application through the online portal or reach out to our Talent Acquisition Team at Infosys BPM for further details.
Infosys BPM is an equal opportunity employer, committed to fostering a diverse and inclusive workforce. We encourage all qualified candidates to apply and join us in our mission to deliver excellence and innovation across industries.
