Supervision Officer - Financial Analyst at Retirement Benefits Authority

KRA 15: Levy

• Participate in collection of levy
• Assist in public registration inspection fees collection
• Participate in prompt reconciliation of levy payments
• Assist in issuance of notices on payment of levy and submission of accounts
• Contribute to reporting on levy collection

KRA 2: Risk Profiling

• Assist to carry out risk assessment of schemes and propose the supervision stance to be applied
• Participate in review of risk profile of schemes and update the score with input received from the enforcement team
• Work with other officers to ensure that the average risk score is maintained as per the score prescribed in the department annual target
• Contribute to continuous improvement of the RBS toolkit and assessment guidelines

KRA 3: Financial Analysis

• Participate in carrying out financial analysis of scheme accounts
• Assist in verifying levy payment of schemes
• Participate in inspection of schemes to ensure compliance with financial requirements

KRA 4: Statutory Returns

• Assist in the timely submission of statutory returns.
• Contribute to creation and maintenance a database of all submission CR, IR and AVR
• Participate in follow up on defaulting scheme and ensuring appropriate action is taken.
• Assist in preparing statutory returns analysis reports
• Participate in analysis of actuarial valuation reports to ensure scheme funding is in compliance with the law and consistency with best practice
• Participate in financial analysis on retirement benefit schemes financial statements and evaluate contribution returns
• Assist in preparing reports and design templates to be utilized as source of information in carrying out risk profiling of schemes.

KRA 5: Remedial Plans

• Participate in design of templates to track remedial plans for underfunded schemes
• Work with other officers to monitor and review of the remedial plans
• Contribute to recommendations on courses of actions for schemes not complying to their remedial plan
• Work with other officers to ensure schemes in difficulties submit remedial plans
• Assist to enforce the implementation of the remedial plans.
• Participate in taking prompt action on the defaulters of remedial plans
• Participate in implementation of internal audit and external audit recommendation

KRA 6: Mergers, Conversions& Winding-up

• Team up with other officers to review and approve applications for scheme design, conversions and ensure protection of rights of members and sponsors
• Assist to ensure the winding-up process is executed in a timely manner.

KRA 7: Annual General Meetings

• Attend and represent the Authority in retirement benefits schemes AGMs
• Participate in training of trustees and other stakeholders in the industry
• Take part in onsite inspection of retirement benefit schemes
• Assist to enforce AGMs convention as per the requirement of the law.
• Issue notices to schemes whose AGMs are due
• Assist in maintaining a Database of AGMs convened

KRA 8: ISO Standards

• Participate in implementation of ISO audit recommendations
• Participate in continuous improvement of department ISO procedures

KRA 9: Data Capture

• Assist to ensure data integrity of statutory returns are properly captured
• Communicate to trustees/service providers to correct any anomaly on statutory returns submitted prior to approval
• Contribute to approval of statutory returns captured
• Advise the enforcement team on non-compliant schemes in regard to statutory returns
• Prepare and submit monthly reports on statutory returns for schemes under your portfolio

KRA10: Enforcement

• Participate in the development of practice notes relevant to the pension industry
• Work with other officers to enforce compliance with statutory directions
• Contribute to the development and improvement of the RBS enforcement manual