Pension Administrator at CIC Insurance

PURPOSE:

The incumbent shall be responsible for doing administration on retirement benefits schemes within CIC Life Retirement Benefits Department as per the regulator and stakeholders’ requirements.

PRIMARY RESPONSIBILITIES:

• To manage the existing pensions schemes;
• Attend Board of Trustees meeting as the administrator and take minutes when required and generally advise the Trustees;
• Attend Board of Trustees meeting and present the Fund Administrators report;
• Attend the Annual General Meetings of members and take minutes when required;
• Attend the annual General Meeting of the members and present the Fund Administrators Reports;
• Ensure Compliance with Retirement Benefits Authority and KRA on various pension schemes, including licensing by RBA;
• File various returns with RBA including quarterly returns;
• Guide new schemes in the registration process with RBA & KRA;
• Main record of member contributions, update the member statements and issue the statements at the end of the year to members;
• Calculate withdrawal benefits for members leaving the scheme;
• Assist in drafting of the Trust Deed & Rules and updating from time to time;
• Record keeping both soft files and hard files as necessary;
• Train Trustees & Members in the schemes; and
• Any other relevant duties as assigned from time to time

Academic and Professional Requirements

Education 

•  Bachelor’s degree in a business in a related  

Professional Qualifications 

• Progress towards Qualification in IIK or ACII

Essential Knowledge/Skills and Experience Required:

• Minimum of Two (2) years’ experience in pension administration in the pension sector with at least 1 years of experience in client relationship management.
• Technical competence in insurance and pension administration
• Excellent communication and presentation skills
• Problem solving skills
• Excellent customer care skills

Desirable knowledge/skills and Experience Required:

• Excellent interpersonal skills
• Computer literate in MS Office and other office applications
• Basic knowledge of regulations by AKI and IRA