Pensions Administration Officer at Geminia Life Insurance

Role Purpose:

The Pension Administrative Officer will play a key role in providing pension administration services to a wide range of retirement benefits clientele while ensuring compliance with operational procedures, regulatory guidelines, and company policies.

The role demands exceptional data management and analytical skills, a thorough understanding of the pension industry as well as great attention to detail. Additionally, the role contains a business development element and will require ability to onboard and maintain client relationships while identifying cross-selling opportunities.

Key Responsibilities:

Operational Duties

• Manage the day-to-day administration of retirement benefits schemes for various clients.
• Drive business growth by conserving existing client relationships, cross-selling pension products such as annuities, IDD’s, and Personal Pension schemes and generating leads for new business opportunities.
• Maintain accurate and up-to-date member records, including contributions and benefit calculations.
• Process all retirement transactions, including enrollments, withdrawals, and beneficiary updates, while ensuring timely payments and issuing member statements in line with service standards.
• Handle documentation and data in compliance with data protection laws and ensure participant records are complete and accurate.
• Conduct regular client visits and promptly address client needs, ensuring great customer satisfaction.
• Ensure full compliance with retirement benefits legislation and industry guidelines.
• Identify and implement process improvements to enhance operational efficiency and minimize errors.
• Collaborate with internal teams to implement system enhancements and automation for improved productivity.

Regulatory Compliance

• Adhere to regulatory requirements and internal policies to ensure compliance in all aspects of pension administration.
• Safeguard customer information through robust data protection and privacy practices.
• Participate in audits, address identified gaps, and implement corrective measures promptly.
• Stay updated on retirement benefits regulations and ensure compliance with industry standards.

Reporting and Analysis

• Prepare regulatory and management reports and summaries for retirement benefits schemes.
• Submit timely and accurate returns for assigned retirement benefits schemes.
• Monitor key performance indicators and implement measures to achieve set targets.
• Provide comprehensive reports and information to stakeholders in a timely manner.

Key Competencies

The successful candidate should be:

• Strong market awareness of the pension industry
• Commitment to continuous innovation and process improvement.
• Ownership, accountability, and team spirit.
• Business development and a visionary mindset.
• Excellent organizational, time-management, and interpersonal skills.
• In-depth knowledge of retirement benefits legislation and management.
• Strong presentation and communication skills.

Qualifications 

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Business Administration, or a related field.
• Proficiency in Microsoft Office Suite, particularly Excel, Word, PowerPoint, and Outlook.
• A Diploma in Insurance, Trustee Development Program Kenya (TDPK) or Professional qualification in pension management will be an added advantage.

Relevant Experience

• At least 2–4 years of experience in a similar role.
• Knowledge of retirement benefits legislation and insurance regulations in Kenya is highly desirable.

What We Offer

• Competitive salary and benefits package.
• Opportunities for career growth and professional development.
• A collaborative and inclusive work environment.