Pensions Operations Officer at Britam

Job Purpose: 

• Assist in processing and payment of pension claims and benefits. Approval of payments on assignment by the Team Leader.

Key Responsibilities:

• Updating and reconciling all pension payment transactions on a daily and monthly basis. Suspense management in all pension payment accounts.  
• Constantly liaising 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. 
• Perform end-of-month bank and GL reconciliations and have all owned accounts approved. 
• Processing payment of all scheme expenses within the agreed timelines (RBA levy, Instalment taxes, Trustee Allowances) 
• Process payment transactions on the Administration system and through any other channel. 
• Preparation of Quarterly Returns of payments and other regulatory returns. 
• Capture accurate bank details at the point of processing payments in the system or through any other channel. 
• Respond to both internal and external pension payment inquiries concerning benefits, claims process, commission, payroll services, and the filing/completion of proper forms. 
• Preparation of monthly/quarterly and yearly annuity, Income drawdown, and DA reports. 
• Record all pension payment transactions and maintain accurate payment registers. 
• Processing of payrolls for annuities/Income drawdown and commissions for all intermediaries by the due date. 
• Approval of payments as per the defined approval matrix.
• CRM requests resolutions as per TATs. 
• Perform any other duties as may be assigned from time to time. 

Knowledge, Experience and Qualifications required and Essential Competencies - External

• Bachelor’s degree in a business-related field 
• Advanced Excel reporting – Well versed 
• At least two years of experience in pension payment processing; 4 years relevant experience in the pensions.

Technical/ Functional competencies:

• Pension Regulatory Requirements 
• Claims Assessments 
• Ability to compute Benefits