Job Description
Applications are invited from suitably qualified, competent and experienced persons to fill the position of Head of Benefits that has arisen within our organization.
Job summary
This position reports to the Principal Officer of the Pension Fund. The position is responsible for leading the Pension Benefits team to ensure exceptional delivery of accurate membership data, claims management, valuation data, member experience and communication.
Principal Duties and Responsibilities
Leads the execution of business strategy within the Pension Benefits team.
Works closely with the Actuaries to ensure proper management of the liability.
Provides technical support to the Principal Officer in the management of defined benefits and defined contribution funds.
Ensures that accurate and complete records of the members of the Fund are maintained in order to have reliable actuarial valuation and make correct benefits' payments in compliance with Fund rules and regulations.
Resolves complex or controversial issues that may arise with individual pension claims, in liaison with the Principal Officer and Fund lawyers
Educates members, pensioners and Human Resources personnel on pension issues.
Manages payment of claims and pensioners payroll.
Conducts financial planning workshops using international recognised standards.
Ensures that Funds operate effectively and meet performance, quality and customer care targets, as well as complying with best practice where possible
Leads the interaction with Fund actuarial service providers to deliver accurate and timely reports and statistics as required to enable actuarial valuations, asset liability management, mortality studies and other related projects.
Provides accurate and timely management reports and statistics as required, for actuarial valuation purposes as well as other studies and projects and cooperating closely with the Fund's professional and technical advisers.
Attends to issues raised by the Actuary and ensure that they are resolved.
Develops new pension products with the assistance of the Actuary.
Ensures that the benefits section complies with all relevant statutory requirements e.g tax laws, IPEC requirements.
Oversee the department's processes for identifying, assessing and managing the principal risks of the Fund's business.
Manages and directs the daily activities of the mortgage scheme operations.
Ensures continuous staff development in the Pension Benefits team so as to keep abreast with current market trends.
Implements a performance management system to ensure that the team is delivering against its performance goals and service standards.
Duties and Responsibilities
Principal Duties and Responsibilities
Leads the execution of business strategy within the Pension Benefits team.
Works closely with the Actuaries to ensure proper management of the liability.
Provides technical support to the Principal Officer in the management of defined benefits and defined contribution funds.
Ensures that accurate and complete records of the members of the Fund are maintained in order to have reliable actuarial valuation and make correct benefits' payments in compliance with Fund rules and regulations.
Resolves complex or controversial issues that may arise with individual pension claims, in liaison with the Principal Officer and Fund lawyers
Educates members, pensioners and Human Resources personnel on pension issues.
Manages payment of claims and pensioners payroll.
Conducts financial planning workshops using international recognised standards.
Ensures that Funds operate effectively and meet performance, quality and customer care targets, as well as complying with best practice where possible
Leads the interaction with Fund actuarial service providers to deliver accurate and timely reports and statistics as required to enable actuarial valuations, asset liability management, mortality studies and other related projects.
Provides accurate and timely management reports and statistics as required, for actuarial valuation purposes as well as other studies and projects and cooperating closely with the Fund's professional and technical advisers.
Attends to issues raised by the Actuary and ensure that they are resolved.
Develops new pension products with the assistance of the Actuary.
Ensures that the benefits section complies with all relevant statutory requirements e.g tax laws, IPEC requirements.
Oversee the department's processes for identifying, assessing and managing the principal risks of the Fund's business.
Manages and directs the daily activities of the mortgage scheme operations.
Ensures continuous staff development in the Pension Benefits team so as to keep abreast with current market trends.
Implements a performance management system to ensure that the team is delivering against its performance goals and service standards.
Qualifications and Experience
B Com in Actuarial Science or relevant business degree majoring in Actuarial Science.
Studying towards Actuarial Diploma is an advantage.
At least 5 years' experience at Management level or Consulting role in the Pension Fund or Insurance Industry or Actuarial firm.
At least 5 years' experience of managing the actuarial valuation and financial review process of a Pension Fund
Qualifications and Experience
Qualifications and Experience
B Com in Actuarial Science or relevant business degree majoring in Actuarial Science.
Studying towards Actuarial Diploma is an advantage.
At least 5 years' experience at Management level or Consulting role in the Pension Fund or Insurance Industry or Actuarial firm.
At least 5 years' experience of managing the actuarial valuation and financial review process of a Pension Fund
Essential Competencies
Aptitude with figures.
Advanced MS Excel skills.
Full comprehension of the relevant laws and statutes governing the Pensions industry.
Good interpersonal, communication and leadership skills.
Familiarity with actuarial issues and the functioning of the defined benefit and defined contribution funds.
How to Apply
If you wish to be considered please submit your application and cv to: hr.recruit2336@gmail.com addressed to the Principal Officer before the 9`" of July 2020
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