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To run with the day to day administration of individual retirement plans and individual retirement income products.
- 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 training;
- Train Front office staff to empower them in the 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 signing up 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
Technical/ Functional competencies
- Knowledge of pension administration industry and concepts
- Knowledge of the Retirement Benefits Authority (RBA’s) regulatory requirements.
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Unposting Date: 24-06-2022
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