As an Operations Specialist, you will be part of the US John Hancock Retirement segment of the business in the Sponsor Support department. You will be responsible for complex data processing tasks such as collecting, scrubbing, and uploading participant level account data with efficiency and accuracy to meet the service levels set by management.
In addition to communicating with plan sponsors and internal stakeholders via our Parts+ recordkeeping system, you will be asked to read and comprehend retirement plan provisions from plan documents and amendments to ensure that reports are properly generated according to Eligibility, Compensation, and Contributions.
Reporting into the Operations Manager, the Operations Specialist will play a crucial role in ensuring clients meet IRS compliance requirements, including Nondiscrimination testing, Loan Delinquency reporting, and Required Minimum Distributions. The Operations Specialist will collaborate closely with Senior Compliance Analysts within the Sponsor Support Services team for more complex situations. Additionally, they will work with internal stakeholders from the Client Service Manager team and the ERISA Government & Reporting team to ensure that Nondiscrimination testing is completed accurately and on time, in accordance with IRS-mandated deadlines.
Position Responsibilities:
- Understanding of customized plan documents and amendments to ensure that reports are properly generated according to Eligibility, Compensation, and Annual Employer contributions requirements.
- Calculating complex employer matching contributions such as Annual Match, Lookback Match, and Profit-Sharing contributions utilizing pro rata, integrated and straight allocation methods.
- Analyze and reconcile all reporting related to non-discrimination testing & submit to the Compliance & Government Reporting team.
- Work with Compliance & Government Reporting team for any issues that may come up during their testing run.
- Perform other job-related duties and special projects as assigned.
Required Qualifications:
- Bachelor’s degree required.
- 3-5+ years working in a financial services operation’s environment.
- 1+ years working in Defined Contribution plan administration (Third Party Administrator focus preferred).
- Prior experience reading and interpreting 401k Retirement Plan Documents required.
- Excellent data analysis and technology skills.
- Ability to organize, prioritize, and process multiple issues simultaneously.
- Demonstrated analytical / problem solving skills in the financial services industry.
- Demonstrated excellence in written and verbal communication.
- Time management focused adhering to deadlines and timelines.
When you join our team:
- We’ll empower you to learn and grow the career you want.
- We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
- As part of our global team, we’ll support you in shaping the future you want to see.
The role being advertised is an existing vacancy.
About Manulife and John Hancock
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.
Manulife is an Equal Opportunity Employer
At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.
It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].
Referenced Salary Location
Boston, MassachusettsWorking Arrangement
Salary range is expected to be between
$61,875.00 USD - $103,125.00 USDEmployees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. If you are applying for this role outside of the primary location, please contact [email protected] for the salary range for your location.
Manulife/John Hancock offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension/401(k) savings plans and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in the U.S. includes up to 11 paid holidays, 3 personal days, 150 hours of vacation, and 40 hours of sick time (or more where required by law) each year, and we offer the full range of statutory leaves of absence.
We use data and analytics technologies, such as artificial intelligence (AI), and automated processing tools, to analyze and process the information you provide to us or third parties in the application process. For more information, please refer to our personal information collection statement.
Know Your Rights I Family & Medical Leave I Employee Polygraph Protection I Right to Work I E-Verify
Company: John Hancock Life Insurance Company (U.S.A.)Manulife Boston, Massachusetts, USA Office
Boston, United States
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