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Senior Defined Benefit Calculation Associate

Prudential


Location:
Hartford, CT
Date:
03/24/2017
Job Code:
376298
Prudential
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Job Details

Position Title: Senior Defined Benefit Calculation Associate
Job Code: 376298
Job Location: Connecticut-Hartford
Description:

The Benefit Calculation Analyst is responsible for providing Defined Benefit outsourcing services for the full service book of business. A multi-functioning role that interacts with plan participants, retirees and the plan sponsor's staff in a fast paced, challenging environment. Handles or advises others how to handle difficult transactions. Responsible for oversight of technical training and quality review at a department level. Requires in-depth knowledge and proficiency in all aspects of both the Defined Benefit Calculation and Complex Data function with a sound working knowledge and understanding of other. Job responsibilities include the following: 

  

  • Provides a variety of standard and non-standard services which includes the calculation of retirement benefits, providing explanations of the various components of the calculations and benefit options, as well as plan provisions. 
  • Researches complex data or information in order to draw accurate conclusions and present viable options or solutions in a timely manner. 
  • Applies knowledge of plan provisions and industry regulations to day-to-day operations. 
  • Communicates key information in response to inquiries received from plan participants, retirees, and plan sponsor via telephone, e-mail, or letters. 
  • Ensures client satisfaction through the successful completion of complex qualified and non-qualified pension calculations for traditional and cash balance plans, including QDRO and FICA calculations. Understands tax requirements and implications associated with each. 
  • Researches and resolves client issues working in collaboration with operations, plan actuaries, plan administrator and other internal business partners to execute prompt resolution. 
  • Identifies opportunities to exceed customer service expectations by improving workflows, trouble-shooting, and recommending improvements to increase productivity and efficiency.  
  • Performs quality checks for manual calculations produced by team. 
  • Responsible for tracking and reporting non-qualified payments with internal and external parties. 
  • Serves as a backup for handling incoming monthly data files and resulting errors items. 

May be a resource for training and coaching team on new plan provisions and/or regulatory changes, providing input to system changes or enhancements, and handling one-off data changes or updates.


-Minimum of 2-3 years of financial services or related experience required. Retirement industry experience considered a plus. 

-Customer service experience and/or experience performing benefits calculations for retirement or related industry (ie, life insurance or annuities). 

-Knowledge of defined benefit, defined contribution, non-qualified or related products. 

-Strong mathematical skills and intermediate Excel skills required. 

-Experience with Prudential systems or external recordkeeping systems preferred. 

-Ability to take on leadership role with projects or special assignments; project management experience considered a plus. 

-Ability to effectively communicate with internal and external parties. 

-Strong organizational skills; self-motivated; flexible; ability to partner across functions. 

-Creative problem solving, analytical and negotiation skills. 

-Self-motivated and flexible; able to multi-task and thrive in a production-oriented environment and to handle requests in a confidential and professional manner. 

-Bachelors degree or related experience. Actuarial exams considered a plus. 

 


Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
Job Function: Banking/Financial Services
Schedule: Full-time
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