Job Purpose:
Overall oversight of the pension administration department including responsibility for conserving existing business while providing superior service to retirement benefits business clients and in full compliance with the governing laws and laid down procedures.
Key responsibilities
Develop and implement policies, processes, procedures and for the continuous and effective operationalization of the functions and responsibilities implement the strategic direction of the pension administration business
Engagement of schemes sponsors, employers and trustees in compliance checks and continuity of schemes
Constantly liaising with other client service providers such as; scheme custodians, Finance Department, Investment Department, Fund Managers etc. to ensure that set timelines are achieved in relation to compensation of member benefits,
Carrying out statutory compliance of pension schemes with both the Retirement Benefits Authority (RBA) and Kenya Revenue Authority (KRA)
Manage pension schemes as per Company Policies, Statutory Requirements as stipulated by the RBA and Insurance Regulatory Authority (IRA)
Fulfil requirements for licensing of pension schemes
Fulfil requirements for licensing of Britam as a Pensions Administrator
Ensure risk control mechanisms are in place
Ensure compliance with statutory, company and regulatory requirements
Servicing and attending statutory meetings
Ensure compliance with statutory and regulatory requirements
Training and development of staff members in the department
Perform any other duties as may be assigned from time to time
Delegated Authority: As per the approved Delegated Authority Matrix
Key Performance Measures.
As described in your Personal Score Card
Knowledge, experience and qualifications required
Bachelor’s Degree in a business-related field
Master’s Degree (added advantage)
Professional qualification in Pension Management
Knowledge of legislation governing Retirement Benefits and Insurance in Kenya
10+ years successful retirement schemes administration experience, 5 of which should be in a management position
Leadership category responsibility framework (Core Competencies)
Change Leaders in Britam need to:
Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit;
Continuously configure and adapt the functional area to most effectively suite the future view of the business;
Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change);
Be in touch with the changing industry, customer needs and international best practice;
Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues;
Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimised succession planning;
Ensure clarity of expectations for individuals in the function and other stakeholders across the group;
Facilitate functional integration;
Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business;
Co-ordinate between functions and divisions to ensure optimisation of the value chain and resources;
Ensure alignment of strategy, objectives and deliverables within the function;
Develop innovative partnerships and distribution channels to increase Britam’s market penetration;
Ensure a seamless experience for clients;
Appropriately allocate funds and capital to maximise shareholder value;
Adequately manage operational risk;
Increase operational efficiency;
Provide access to accurate and consistent information and services across all channels;
Improve quality and speed of decision making across the business.
Technical/ Functional competencies
Knowledge of pension administration industry and concepts
Customer, market and competitor understanding
Knowledge of the Retirement Benefits Authority (RBA’s) regulatory requirements.
