Retail Pensions Operations Associate at Britam

Job Purpose:

To run with the day-to-day administration of individual retirement plans and individual retirement income products.

Key responsibilities

• Prepare and issue of periodic member benefit statements i.e annual, monthly or quarterly;
• Prepare and file returns with KRA, RBA and other regulators within statutory deadlines such as investment returns, contribution returns and tax returns;
• Prepare and file Scheme Financial statements;
• Present scheme financial statements to the Board of Trustees;
• Accurately process and settle member benefits within the agreed timelines;
• Prepare pensioners payrolls, commissions, expenses within the set turnaround times and regulatory deadlines;
• Prepare and facilitate SMS payment confirmations to retirees;
• Approve payments in line with the Delegation of Authority Matrix;
• Promptly identify funds, receipt and accurately allocate to member accounts within set timelines;
• Liaise with Policy Administration regarding  Check off and Direct Debit contributions for retail customers;
• Prepare and submit direct debit collection files to the DDA Team within the agreed turnaround times;
• Ensure communication to DDA customers for any rejected cases on a timely basis;
• Continuous suspense management in line with receipting and suspense management policy;
• Ensure on boarding of new customers into Fundmaster within set timelines and laid out compliance guidelines;
• Prepare and submit welcome calls data for the retail customers;
• Carry out continuous end to end reconciliations of receipts, payments and balances within set deadlines;
• Carry out bank reconciliations;
• To work with Marketing and Customer Retention Functions in developing customer communications including organizing client’s briefings and trainings as required;
• Prepare productivity and other management reports, including scheme reports such as administration, investment reports;
• Prepare and issue monthly reports to Actuarial Function on Deposit Administration and Retirement Income products within agreed timelines;
• Convene and attend Board of Trustee Meetings, Annual General Meetings and Member Education trainings;
• Train Front office staff to empower them in handling of retail pension clients;
• Carry out continuous data cleansing of retail pension customers’ information;
• Coordinate scheme and internal company audits;
• Actively participate in initiatives geared towards sign up of customers in the portal and mobile applications;
• Responding to client queries promptly;
• Perform any other duties as may be assigned from time to time

Knowledge, experience and qualifications required

• Bachelor’s degree in a business- related field
• Professional qualification in Pension Management or any other relevant qualification such as CPAK;
• Knowledge of legislation governing Retirement Benefits and Insurance in Kenya;
• Knowledge of MS Excel