Benefits Administrator

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Line of Business Job Description:

This job is responsible for moderately complex transaction and fulfillment processing, including the movement of assets into and out of accounts. Key responsibilities include reconciliation, settlement, and trade and transfer support, and providing quality service and operations support for internal business partners and external clients, in accordance with established guidelines and procedures. Job expectations include handling in operational processes which may carry medium to high levels of monetary risk and assisting in training less experienced team members.

Responsibilities:

• Performs moderately complex transaction processing and reconciliation with medium to large monetary impact according to the established written guidelines and procedures
• Responds to moderately complex client inquiries via numerous channels to support operational efficiency and quality client service
• Responsible for the analysis and resolution of moderately complex transactions requiring escalations and exceptions
• Proactively identifies risk and opportunities for process improvements based on an understanding of how the work impacts other operational units

Skills:

• Attention to Detail
• Customer and Client Focus
• Oral Communications
• Prioritization
• Problem Solving
• Account Management
• Analytical Thinking
• Coaching
• Written Communications
• Mentoring
• Research
• Result Orientation

The Institutional Retirement Benefits, Payroll and Disbursements (IRBP&D) teams within Wealth Management Operations (WMO) provide onboarding, plan maintenance and operational support for Institutional and Personal Retirement clients for product lines offered through Workplace Benefits.

The 401(k) Benefits Processing team within IRBP&D is responsible for administering 401(k) plans for a large number of employers, including many Fortune 500 companies. The team assists internal partners to facilitate requests originated by 401(k) participants and by the plan sponsors of the companies we service.

Role will include, but not limited to: 

• Receive and process incoming Non-Qualified Contribution payrolls. 
• Process manual enrollments and various other misc process requests.   
• Correct incoming files to account for plan rejects.
• Follow all established procedures, audit, and regulatory guidelines.
• Work directly with the existing Plan Sponsors, CSM, and related supporting areas.
• Monitor assigned plans as a scheduled.​

Required Skills:

• Highly organized
• Self-starter attitude
• Ability to multi-task and handle multiple projects in a short time period.
• Exceptional attention to detail and the ability to hold others accountable without direct supervision.
• Flexibility with ability to handle a variety of tasks and projects independently.
• Strong written and verbal communication skills; able to influence/challenge and negotiate to keep all parties engaged in the process.
• Effective Excel and Word skills
• Team Player
• Proven ability to provide comprehensive solutions to complex needs and/or problem.
• Ability to prioritize and meets established deadlines.

Desired Skills:

• Advanced Excel and Microsoft Word skills
• College degree (preferred)

Shift:

Hours Per Week: