Pension Administrator at Jubilee Insurance

Insurance jobs, Actuarial jobs, Jobs in Kenya,

Pension Administrator

Job Ref. No. JLIL198

Role Purpose

The role holder is responsible for conserving existing business and providing superior services to retirement benefits business clients. This role ensures full compliance with procedures and guidelines as outlined in the operations manuals, while delivering exceptional customer service and maintaining accurate record-keeping.

Main Responsibilities
Operational

  • Business Growth: Conserving existing business and offering alternative products to existing clients e.g., annuity, cross sell and following up/providing leads for new business.
  • Manage the administration of retirement benefits plans for corporate clients.
  • Ensure accurate record-keeping of participant data, contributions, and benefit calculations.
  • Process retirement transactions, including enrollments, withdrawals, and beneficiary changes. The role holder will be processing & ensuring timely settlement of payments, issuance of member’s statements, preparing accounts and other benefits within the set service standards.
  • Maintain up-to-date participant records and handle all necessary documentation.
  • Provide exceptional customer service to retirement benefits business clients.
  • Address inquiries and resolve issues related to retirement plans promptly.
  • Assist clients with plan updates, changes, and participant communications.
  • Educate clients on plan features, compliance requirements, and industry best practices.
  • Identify opportunities for process improvements to enhance operational efficiency.
  • Streamline administrative processes to minimize errors and maximize productivity.
  • Work with internal teams to implement system enhancements and automation.
  • Statistical Analysis & Returns: Preparing summary/ statistical reports of the Retirement Benefits schemes. Also preparing returns in respect of the Retirement Benefits schemes as assigned for submission within the timelines provided. Monitor key performance indicators and implement measures to achieve targets.
  • Maintain accurate and up-to-date records of retirement plans and participant information.
  • Generate reports and provide timely and accurate information to clients.
  • Collaborate with internal stakeholders to meet reporting obligations.

Corporate Governance

  • Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
  • Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
  • Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
  • Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
  • Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
  • Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

Culture

  • Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
  • Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
  • Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization’s objectives.

Key Competencies

  • Visionary Entrepreneurial Spirit
  • Market Awareness
  • Customer Focus
  • Continuous Innovation
  • Ownership & Commitment
  • Team Spirit
  • Excellent organizational and time management skills

Qualifications

  • B.Sc. (Math/Stat/Actuarial), Bachelor’s degree in a business or related field.
  • IT proficient (especially excellent command in MS Word, Excel, PowerPoint and Outlook)
  • Diploma in Insurance

Relevant Experience

  • At least 3 years’ experience in a similar role
  • Knowledge of legislation governing Retirement Benefits and Insurance in Kenya will be an added advantage. 

Method of Application

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If you are qualified and seeking an exciting new challenge, Please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by 14th January 2024. Only shortlisted candidates will be contacted.

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