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
How to Apply
If you meet the above requirements, you are encouraged to forward your application and updated CV to [email protected] by 31st January, 2025. Clearly state the job title on the subject heading.
