Specialist - Benefits Administration- FTC

Specialist - Benefits Administration (FTC)

About: Phonepe is the leader in the UPI based payments in India with a market share of more than 47%. Our goal is to make payments so easy, safe and universally accepted that people never feel the need to carry cash or cards again. We believe India is at the cusp of a new mobile revolution, which will change the way we manage our money on the go. We see ourselves facilitating this change, through technology and dogged customer centricity. PhonePe went live in 2016 and till date has got over 600 mn registered users and 40 mn merchants. PhonePe has forayed into diverse areas with its offerings in almost all fintech segments including insurance, lending, mutual funds and stock broking. In 2024, PhonePe also launched Indus AppStore - its own native Android-based mobile app store built for Indian consumers providing app discovery and content in 12 Indian languages. 

Summary: Seeking a proactive and detail-oriented professional to join our HR team in Bangalore as a Specialist – Benefits Administration. This role will report into the Lead - Payroll and Benefits Administration and will be responsible for managing employee benefits programs for ensuring seamless employee experience and service delivery. 

Key Responsibilities:

1. Benefits Administration

1. Employee Insurance Administration (GMC, GPA, and GTLI)

• Collaborate with insurance brokers, third-party administrators (TPAs) and insurance providers to ensure enrolment, removal, coverage, and efficient administration of insurance benefits and claims processes. 
• Provide assistance to employees regarding insurance inquiries, offering guidance and facilitating the claims process as necessary. 
• Driving enrollment by coordinating Insurance Benefit Sessions and follow-ups.
• Reviewing open claims with insurance brokers/ TPAs for closure.

1. Mothers@PhonePe and Daycare: 

• Oversee communication and processes for the Mothers@PhonePe program.
• Supporting the expectant/ new mothers with enrolment, query resolution and special requirements if applicable (special workspace-related requirements, transportation benefits, peer support group, parental well-being program,, etc) 
• Ensuring timely buddy allocation, dispatch of gift hampers, mailers and gifts to new/expectant mothers)
• Monitor the utilization of daycare facilities and coordinating with vendors for services to ensure accurate billing. 

1. Car Lease

• Supporting the employees with the car lease process in coordination with the leasing partners.
• Coordinating with the leasing partners in cases of lease closures. 
• Maintaining the car lease MIS for tracking and reconciliation with payroll data. 

1. US Employees’ Benefits

• Coordinating with the US Benefits Broker for enrolment of the new joiners.
• Ensuring the timely processing and transfer of all benefit amounts including those applicable for social security and insurances.
• Coordinating with Accounts Payable team for timely processing the payments for benefits amounts.
• Supporting the transfer of social security benefits (401(k)) for separated employees

1. Other benefits: 

• Long Service Awards (LSA): Ensure timely execution of LSA through proactive coordination with vendors and ensuring timely payments.
• Supporting Death Cases: Handling death cases by coordinating with various internal and external teams for supporting the beneficiary's family with all claims.
• National Pension Scheme (NPS): Managing NPS enrollment, shifting of PRAN under PhonePe entities, validating the inputs and changes for Payroll.
• Learning Assistance Programme (LAP): Validating the LAP claims against approval and processing the reimbursements through payroll. 
• Time Away from Work: Validation of monthly accrual of Annual Leaves and Casual Leaves along with the Digitalization team.
• Handling queries and tickets in the above areas to address employees’ concerns or requests

1. Invoice Processing

• Overseeing regular billing cycles for the premium amounts and service fee, validating invoices, raising POs and ensuring compliance with contractual terms for accurate billing.
• Coordinating with Accounts Payable and other PhonePe internal teams for timely payout (especially for the US partners).

1. Process Documentation,  Improvement and Reporting

• Create and update SOPs for benefits processes for efficient service delivery.
• Evaluate workflows for improvements, faster turnaround and accurate reporting.
• Maintain and analyze benefits data to track enrolment, utilization, and trends and generating reports required by stakeholders and other processes.
• Providing payroll inputs as required against the various benefits programmes.
• Support the People Experience team members with other benefits related activities.

Capabilities & Requirements:

• Bachelor’s degree in Human Resources, Social Work, or a related field.
• 1-2 years of experience in benefits administration and coordination with partners.
• Proficiency MS Excel or Google Spreadsheets is a plus.
• Attention to detail, conscientiousness, and commitment to execution excellence.
• Experience in a dynamic, fast-paced environment is advantageous.