Pension Analyst
Job Summary
To implement the customer retention and communication strategy by ensuring optimal client service is provided to direct and intermediate clients.
Key Responsibilities
- Confirm the status of new accounts on the system and define the rules e.g. contribution cycles, payment modes
- Ensure proper client onboarding to support data accuracy
- Monitor contributions, and raise reminders to customers
- Periodically generate statements for customers
- Update the annuities register with customer details and set up payment schedules (rules) on the system
- Auto reconcile membership data in the system against contribution schedule
- Generate statements to the trustees/sponsor/Scheme members
- Facilitate registration of the schemes by RBA Evaluate withdrawal application and confirm benefits due
- Process withdrawal request and generate payment file
- Data cleaning and verification for new schemes loading and monthly updates
- Constantly liaise 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.
- Maintain records of contributing members, deferred and current pensioners, provision of annual statements, registration of Scheme with Retirement Benefits Authority (RBA) and Income Tax (KRA)
Qualifications
- University degree, either in Actuarial, Insurance, Statistics or Business Administration
Experience
- Minimum experience of 2 years in pensions
Competencies
- Basic knowledge in claims
- Knowledge of broker and other distribution channels
- Understanding of Pensions Business
- Knowledge of the KRA Act, Insurance Act and Retirement Benefits Regulations
- Risk Awareness (Reputational, Operational, Fraud)
- Understanding of the Pension/Insurance industry
- Pension Administration policies, processes and procedures
- MS Office Solutions