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  • Posted: Dec 5, 2017
    Deadline: Dec 29, 2017
  • Never pay for any CBT, test or assessment as part of any recruitment process. When in doubt, contact us

    Retirement Benefits Authority (RBA) is a regulatory body under the National Treasury, established under Retirement Benefits Act. The Retirement Benefits Act was enacted as part of the on-going reform process in the financial sector in order to bring the retirement benefits industry under a harmonized legislation, to address the many problems that have hither...
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    Supervision Officer - Financial Analyst

    Ref No: RCT0039


    • Bachelors degree in Commerce or a Business related course;
    • Proficiency in Microsoft office;
    • A Certified Public Accountant – CPA (K) or Equivalent Chartered Certified Accountants – ACCA qualification
    • Fulfill the requirements of Chapter 6 of the Constitution
    • CFA level I will be an added advantage

    Job Responsibilities

    KRA 1: Registration

    • Assist in ensuring that the schemes are compliant with the statutory requirements prior to registration
    • Work with other officers to ensure due process and due diligence is done before registration.
    • Participate in the due diligence in the registration and renewal of registered service providers
    • Contribute to provision of training to members of retirement schemes
    • Participate in converting gratuity arrangements into retirement schemes.

    KRA 11: Dispute Management

    • Participate in implementation and evaluation of an effective complaint handling business process with clearly defined stages of investigation responsibilities to ensure timely dispute resolutions and confidence in retirement benefits sector
    • Assist in development and implementation of work plans and budget indicating the activities to be undertaken in complaint handling process
    • Participate in regular reviews of complaints received to identify systemic and recurring problems for consideration by the department
    • Contribute to regular reports on dispute management for departmental consideration.

    KRA 12: Public Complaints and Inquiries

    • Assist to implement the public complaints business process as developed by the Head of Corporate Communications
    • Participate in effective implementation of public inquiries business process to ensure timely responses to the public in accordance with the service charter
    • Contribute to regular reports on public complaints and inquiries for consideration by management and the department.

    KRA 13: Records and Registry Management

    • Assist in maintenance of a registry system to ensure accurate filing and retrieval process of documents and records.
    • Work with other officers to effectively manage incoming documents to ensure proper classification and appropriate filing
    • Assist in registration of both incoming and outgoing files in the movement register to ensure all files removed from registry are properly recorded in the master registry file
    • Participate in periodic inspections of materials or files in order to ensure correct placement, legibility, and proper condition.

    KRA 14: Scanning and Indexing

    • Participate in sorting out mail and scanning the same to ensure electronic record in the workflow system
    • Assist in managing the scanned mail to ensure security and timely attention and action on same
    • Work with other officers to ensure accurate and consistent indexing of documents to ensure a reliable data base and distribution of electronic data and information to users.
    • Participate in updating the data base with latest data or information from schemes returns

    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

    Terms of Offer

    These positions offer a competitive remuneration package, excellent opportunity to make a contribution to the performance of the Authority and prospects for advancement.

    Method of Application

    Interested and qualified? Go to Retirement Benefits Authority on to apply

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