Senior Retirement Analyst (5-7 yrs)

Designation Senior Analyst, 401K Retirement

Department People & Culture Shared Services

Location Gurugram

Working Hours/Shifts 12:30 PM 09:30 PM, Hybrid (4 Days in office)

Purpose of the Role:

The 401k Sr. Retirement Analyst role is responsible for leading the administration and compliance of the 401k plan, ensuring it aligns with regulatory requirements and supports employees retirement readiness. The role collaborates closely with finance, legal, and external vendors to deliver an exceptional benefits experience.

Job Responsibilities:

401k Plan Administration (30%)

- Oversee daily operations of the 401k plan ensuring accurate contributions, distributions, loans, and enrollments.

- Partner with recordkeeper to ensure accurate record-keeping, timely processing of transactions, and a positive employee experience.

Compliance (25%)

- Prepare and file required and supporting documents such as Form 5500, 10K, Fee Disclosure, Safe Harbor, and any other regulatory participant communications.

- Support plan audits, ensuring timely delivery of data and documentation to auditors.Ensure compliance with ERISA, IRS, and DOL regulations.

Employee Support (15%)

- Serve as point of contact for employees plan questions.

- Educate employees on plan features, benefits, and resources to improve retirement readiness.

Data Analysis and Reporting (15%)

- Monitor plan performance, trends, and participation metrics.

- Provide insights and recommendations to leadership to enhance plan effectiveness.

Vendor Management (10%)

- Mange relationships and oversee day-to-day operations with recordkeeper.

- Participate in vendor selection and review processes.

- Build strong relationships with partners in other functions including Legal, Treasury, and Payroll.

Projects and Improvements (5%)

- Contribute to the design and implementation of plan enhancements.

- Stay updated on industry trends and recommend best practices for plan administration and communication

Working Relationships:

Internal Contacts

Legal, Treasury, Control, Communications, Finance, HR, IT, Payroll

External Contacts Voya, State Street Trust, State Street Global Advisors

Minimum Requirements:

- Bachelors degree in Business Administration, Finance, Human Resources, or a related area 5-7 years experience in 401k plan administration, retirement benefits, or a related field Strong knowledge of ERISA, IRS, and DOL regulations governing retirement plans.

- Proficiency in benefits management systems and data analysis tools (e.g., Excel, HRIS systems).

- Excellent organizational and communication skills.

- Ability to analyze complex data and present actionable recommendations.

- Strategic thinker with creative ideas that challenge the status quo

- Ability to collaborate is a must, but will be autonomous and should be comfortable working independently