Job Description Summary

In this role you will be responsible for working closely with Payroll and Retrial Service Provider Life Insurance Company Trustees Point of Presence for NPS Provident Fund Offices Provident Fund consultants and Compliance Partners on various Labour law legislations Bankers and Internal Team members which includes Finance Total Rewards HR Professionals and Secretarial and Audit Team & develop solid relationships with key stakeholders to maintain operational performance through leveraging metrics and trends and identifying areas for improvement.

Should possess good knowledge on the latest updates with respect to retiral management and firsthand exposure on day to day working on the operational part of Retiral work related to Remittance of Provident Fund/Settlement of Gratuity Fund/Settlement of Superannuation Fund/Assisting employees in any escalations/Bookkeeping with respect to Retiral Trusts
They should have a good knowledge on management of Superannuation and Gratuity Trust Compliances and Audit around these Trusts. Able to validate the Trust Deed and bring changes to the Trust Deed in case of any regulatory changes that may arise at a future date. Sound knowledge on Indian Accounting standard and International Accounting standard with respect to accounting of Actuarial valuation of Defined benefits like Gratuity PF Trust and Compensated leave of absence.

Job Description

• They should have a good knowledge on the latest updates with respect to retiral management and firsthand exposure on day to day working on the operational part of Retiral work related to Remittance of Provident Fund/Settlement of Gratuity Fund/Settlement of Superannuation Fund/Assisting employees in any escalations/Bookkeeping with respect to Retiral Trusts
• Good Knowledge on RPFC Related process and should be able to help employees with respect to navigating the Portal and raising grievance in EPFO Portal to mitigate the PF Rejections
• They should have a good knowledge on management of Superannuation and Gratuity Trust Compliances and Audit around these Trusts.
• Able to validate the Trust Deed on Superannuation and Gratuity and bring changes to the Trust Deed in case of any regulatory changes that may arise at a future date.
• Should be able to finalize the Actuarial Valuation reports in coordination with Finance Team Total Rewards Team Service provider and Actuary team. Must be able to answer the queries that can arise from Finance team on any aspect with respect to Actuarial valuation.
• Should be having good knowledge on Indian Accounting and International Accounting standards with respect to Accounting of Gratuity and Leave Encashment Actuarial Valuation Reports
• Able to develop Presentations on the operational metrics & must be able to present before Senior Leadership Team and able to articulate for any question.
• Should be able to represent before Provident Fund Office or ESI Office or PT Office to clear any assessment or notice or any demand that can arise and should be able to comprehend the problem and in a position to explain before the authorities.
• Good Knowledge on National Pension Scheme and should have adequate experience in interacting with POP and NSDL for adapting any new regulatory changes that can happen in NPS at a future date.
• Able to understand the provisions on NPS Portability and should be able to drive the same with Insurance companies on getting any requests from Employees for transferring their Superannuation Fund to National Pension scheme PRAN Account
• Good Knowledge on Superannuation and Gratuity Benefits and must be having experience in interacting with Life Insurance company or any Private Insurance company to get things done with respect to customization of Policy resolving service level issues with respect to Gratuity and Superannuation Payments to employees and getting the statements and schedule on time for a seamless operation
• Able to handle banking relationship with respect to KYC Activation for Gratuity and Superannuation Trust Bank accounts.
• Acts as an interface between NSDL & ICICI in ensuring the benefits towards National Pension scheme benefits settled to the employees who are retiring from the organization.
• Acts as an Interface between Life Insurance Corporation of India and Employees in ensuring the benefits on Superannuation benefits settled to all employees who leave the organization.
• Acts as an interface between ICICI/NSDL LIC of India and Superannuation Trust in transferring the Superannuation Funds to National Pension scheme PRAN account of the employees who opts for NPS Portability
• Good knowledge on Provident Fund Trust operations and experience on Surrender of PF Trust will be an added advantage.
• Should be able to study the various registrations we have for Professional Tax ESI and LWF and see whether the registration is required for a particular location or in case if any new registration is required then should be able to connect with authorities and surrender the registration not required and take new registration wherever required
• Should be able to drive the Help Desk to support the employees on any Provident Fund queries.
• Responsible to drive the Projects on own with respect to Lean Projects/Simplification projects or any projects that comes as part of Operations and well versed in change management practices.
• Regularly updating the employees and internal stake holders about any change in policies or procedures with respect to any Pension and benefits
• Should be able to Demonstrate in implementing the Lean Projects in Benefits and Pension process which results in savings in productivity and reduction of lead time and removal of waste in day-to-day operations.
• Tracking & updating the changes in all statutory records with respect to change in composition of authorized personnel inside the organization.
• To work on reengineer the best practices and should work towards improvement to the existing process.
• Good knowledge on Audit Process and should have an experience in managing the Auditors as part of Statutory Audit Internal Audit ICFR Audit
• Must interact with different stakeholders to share the information to Audit team for the smooth closure of Audit.
• Must work closely with Payment Team to get the Payment for Insurance or any other service availed.
• Must interact with Payroll team and should be able to share the allocation of expense to Finance Team and able to explain the variance between Advance paid and actual booked with respect to Insurance Premium Payments
• Should have some knowledge on Insurance Benefits
• Tracking & updating the changes in all statutory records with respect to change in composition of authorized personnel inside the organization.
• To work on reengineer the best practices and should work towards improvement to the existing process.

Additional Responsibilities

• Develop best practices and process improvements.
• Work on ad hoc reports and share with stakeholders as and when requested.
• Provide effective and timely resolution to queries from employees and other stakeholders.
• understand business hierarchy analyze data issues and provide support to the user population and support the region on all payroll related requirements.
• Ability to collaborate with various stakeholders who manage other downstream systems especially OHR/ HR Ops tools etc.
• Good Presentation skills
• Effective communication skills
• Interpersonal relationship and Networking skills
• Able to manage and take Retiral sessions for employees.
• Develop an annual calendar and update the HRM on a regular basis with monthly/quarterly tracker on activities managed.

Skills Experience Qualifications

• Post Graduation or Professional Degree in Finance with at least 10 years of experience in end-to-end Retiral Process through a reputed vendor /data entry/ client servicing /customer service role & other tool.
• Strong knowledge on in Retiral operations process
• Strong analytical skills
• Should have some experience around Retiral Transition
• Excellent analytical problem solving and decision-making skills with a keen diligence and accuracy in calculations and documentation.
• Commitment to integrity confidentiality and professionalism in handling sensitive employee information and financial transactions.
• Outstanding accuracy skills & eye for details
• Customer service focus with controllership mind set and positive can-do attitude.
• Ability to work within time constraints to meet daily objectives.
• Well versed with Microsoft Excel /Word/Power Point and web-based applications
• Flexibility to meet customer needs and deadlines is a MUST.
• Previous high-level transaction processing experience
• Excellent communication skills both written and verbal
• Demonstrated analytical ability.
• Willing to work in shifts.

Desired Characteristics

• Collaborative approach
• Continuous improvement mindset.
• Customer service orientation.
• Organization skills.
• Diligence.
• Post- Graduation in Commerce will be an added advantage.
• Analytical and strategic thinking skills
• Comprehensive understanding of and ability to assimilate local regulatory and compliance.
• Requirement into an ongoing operational framework.
• Cultural awareness & sensitivity: ability to flex style to suit differing cultural norms and experience of leading a culturally diverse team.

Additional Information