Group Pension Analyst at Liberty Life

Main Purpose

The purpose of the job is to undertake pension administration activities to support the compliance in pension’s schemes management and administration.

Key Responsibilities

• Confirm the status of new accounts on the system and define the rules e.g. contribution cycles, payment modes
• Ensure proper client onboarding to support data accuracy
• Monitor contributions, and raise reminders to customers
• Periodically generate statements for customers
• Update the annuities register with customer details and set up payment schedules (rules) on the system
• Auto reconcile membership data in the system against contribution schedule
• Generate statements to the trustees/sponsor/Scheme members
• Facilitate registration of the schemes by RBA
• Evaluate withdrawal application and confirm benefits due
• Process withdrawal request and generate payment file
• Data cleaning and verification for new schemes loading and monthly updates
• Constantly liaise with service providers such as scheme custodians, Finance department and investment managers to ensure that set timelines are achieved in relation to compensation of member benefits,
• Maintain records of contributing members, deferred and current pensioners, provision of annual statements, registration of Scheme with Retirement Benefits Authority (RBA) and Income Tax (KRA)

 Qualifications

• Bachelor’s degree (insurance option preferred)
• Business-related field
• Professional qualification in Insurance (ACII or AIIK) or Professional qualification in pension management

Experience

• Minimum experience of 2 years in the insurance Industry
• Experience in administering Retirement Benefit Schemes

Competencies

• In depth understanding of insurance operations and concepts
• Knowledge of insurance regulatory requirements
• Knowledge of pension administration industry and concepts
• Knowledge of Retirement Benefits Authority (RBAs) regulatory requirements
• Effective business management skills
• Demonstrable commercial and financial management experience
• Excellent organizational and stakeholder management skills