About the Role
The Pension Administrator, reporting directly to the Assistant Manager – Client Relations within CIC Life Retirement Benefits Division, will be entrusted with overseeing the management of retirement benefit programs in accordance with regulatory guidelines and stakeholder expectations.
Key Responsibilities
Ensuring exceptional client satisfaction by promptly providing accurate and reliable responses to all inquiries and requirements.
To establish robust commercial connections, it is imperative that we offer exceptional service levels when managing and overseeing retirement funds. This involves adhering strictly to all applicable legal regulations throughout the entire process.
Responsible for overseeing payment processing and distribution of member statements, as well as maintaining accuracy in accounting procedures, in compliance with industry standards for Defined Contribution, Defined Benefit, and Hybrid Scheme operations.
The primary objective of this role is to ensure the sustainability of the enterprise through the identification and promotion of substitute goods, as well as the implementation of cross-selling strategies and effective management of follow-up leads in order to attract new business opportunities.
Ensuring the precise maintenance of documentation pertaining to retirement benefit schemes is imperative.
The responsibility entails submitting a quarterly report on contributions to retirement benefits in accordance with regulatory requirements.
Promoting and selling various marketing products to customers.
The position involves generating comprehensive summaries of the retirement benefits sector on a demand-basis and in a timely manner.
As an administrator, you will be responsible for attending meetings of the Board of Trustees and providing guidance on various matters. During these meetings, it is important to ensure that accurate records are kept by taking minutes as needed. Your role also involves advising the Trustees professionally, helping them make informed decisions and guiding them towards their goals.
As a member of our team, you will be responsible for attending the annual general meeting of our organization’s membership base and delivering the fund administrator reports. These comprehensive reviews cover important operational metrics related to asset allocation and reporting in line with relevant accounting principles, which provide insightful feedback and critical recommendations.
Monitor adherence to regulatory requirements established by the Retirement Benefits Authority (RBA) and the Kenya Revenue Authority (KRA) in relation to various pension plans, specifically those pertaining to license under the RBA’s purview.
As a crucial member of our team, you will be responsible for guiding new initiatives through the registration process with the relevant authorities such as RBA and KRA. This role requires excellent communication skills to liaise effectively with these agencies, ensuring smooth sailing throughout the entire procedure. Additionally, your ability to analyze complex information and provide insightful recommendations will be highly valued in this dynamic environment.
Responsible for managing the payment processing of pensioners’ salary, generating life certificate and P9 forms accurately and efficiently.
Collaborate with legal professionals in the preparation of various documents such as Trust Deeds, Rules/Deed of Adherence, and Service Level Agreements. Ensure these documents are accurate and up-to-date by regularly reviewing and revising them as necessary.
As an integral member of our team, you will be responsible for educating trustees and fellow members on various aspects of the organization. Additionally, your role will involve the preparation of high-quality reports that are required to be presented at annual general meetings (AGM) as well as quarterly trustee meetings. Your excellent communication skills and attention to detail will ensure the smooth functioning of our organization.
Who Weâre Looking For
In order to be considered for the role of Customer Service Representative at our company, applicants must meet certain qualifications. These include a high school diploma or equivalent, one year of customer service experience, and strong communication skills. Additionally, candidates should have a friendly demeanor, be able to work well in a fast-paced environment, and possess excellent problem-solving abilities. Responsibilities for this position include answering customer inquiries, resolving complaints, and providing assistance with orders. The ideal candidate will also have the ability to multitask, prioritize tasks effectively, and maintain accurate records.
A Bachelor’s degree in Business Administration, Insurance, Actuarial Science or Mathematics is required for this role.
A minimum of two years’ worth of relevant professional experience is required for this position.
Pursuing advancement in professional certifications such as AII/FSI/ACID is encouraged.
ÂKey Competencies
Proficient in articulating ideas clearly and persuasively through verbal and written means
Expertise in the technical aspects of managing insurance and pension plans is required for this position.
Possesses a high level of proficiency in utilizing Microsoft Excel for data analysis purposes.
A comprehensive understanding of the retirement benefits industry is highly valued.
Proficiency in the regulatory frameworks established by the Reserve Bank of Australia (RBA), Australian Prudential Regulation Authority (AKA), and Internal Revenue Service (IRA) is highly preferred.
