Summary
Date Posted: Thursday, September 22, 2022 , Base Salary: Not Disclosed

JOB DETAILS:
Main Purpose
The purpose of the job is to undertake pension administration activities to support the compliance in pension’s schemes management and administration.

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
• Bachelor’s degree (insurance option preferred)
• Business-related field
• Professional qualification in Insurance (ACII or AIIK) or Professional qualification in pension management

Experience
• Minimum experience of 2 years in the insurance Industry
• Experience in administering Retirement Benefit Schemes

Competencies
• In depth understanding of insurance operations and concepts
• Knowledge of insurance regulatory requirements
• Knowledge of pension administration industry and concepts
• Knowledge of Retirement Benefits Authority (RBAs) regulatory requirements
• Effective business management skills
• Demonstrable commercial and financial management experience
• Excellent organizational and stakeholder management skills

Work Hours: 8

Experience in Months: 24

Level of Education: Bachelor Degree

Job application procedure

If you meet the above requirements you are encouraged to forward your application and updated CV to hr@libertylife.co.ke  by 30th September 2022 clearly stating, the job title on the subject heading. Liberty is a equal opportunity employer and actively encourages diversity. Please note only shortlisted candidates will be contacted.


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