Job purpose summary
To provide an effective and efficient pensions administration service to XPS Administration clients, whilst participating in achieving team objectives and actively contributing to the overall objectives of the Company. The successful individual will play a key part in the overall success of the Company.
Key responsibilities & accountabilities
Performing all intermediary and complex pensions administration and project related tasks, including taking day to day responsibility for an assigned XPS Administration’s client portfolio. Key responsibilities include:
- Managing day-to-day activities of staff to ensure efficient and effective delivery of client work to agreed deadlines to comply with legislative and clients’ requirements.
- Acting as a key member of the pensions administration team, providing support to the assigned team leader and where applicable, deputising for team leader when absent.
- Day to day management of client relationships with trustees, scheme members and corporate clients, acting as first point of contact where applicable, taking a proactive stance to gain an extensive knowledge of their assigned client portfolio.
- Project managing projects such as renewals, benefit statements, life assurance, PHI and lifestyling/investment switches. Handling any data processing and administration tasks, ensuring projects are fully monitored and completed in line with customer and legislation requirements.
- Ensuring standard documentation is scheme specific, and incorporating them into existing procedures.
- Preparing for and where appropriate participating in trustee meetings.
- Handling complex pensions queries and pensions consultative advice.
- Performing complex manual benefits calculations.
- Producing ad-hoc and standard letters to ‘final letter standards’ in response to customer queries.
- Managing ad hoc projects and exercises, e.g. bulk mailshots to scheme members.
- Updating relevant pensions administration databases and systems.
- Monitoring, delegating and co-ordinating workflow, reporting regularly to team leader on progress and issue management.
- Monitoring on going procedural developments and implementing changes to procedures where required.
- Checking of work completed by more junior staff at associate and senior associate levels, including calculations, correspondence, reports and data updates.
- Informal training and mentoring of more junior members of the team.
- Assisting in appraisals and the recruitment process where required, as well as supporting team leader in general HR, induction and performance issues.
- Contributing to technical sub-committees (TSC) and technical administration discussions.
- Ensuring the billing process is processed to deadlines.
- Take part in marketing and new business activities including completing tender responses, attending pitches and presenting at site visits.
- Keeping abreast of technical and legislative developments within the pensions industry.
- Working closely with other departments/teams both internal and external to the Company in order to provide a total service to our clients. E.g. Pensions Accounts, Payroll, Administration Support and ITM (3rd party IT software provider).
- Ensuring the accurate updating of time recording system (Virtual Office) for both chargeable and non-chargeable activities and meeting required utilisation targets and assisting team leader in ensuring more junior staff record chargeable hours correctly.
Knowledge & experience
- Able to demonstrate a thorough knowledge of pensions administration activities and can apply this knowledge to any scheme.
- Previous pensions administration experience of Defined Contributions (DC) schemes including leavers, retirements, deaths, transfers in, transfers out, monthly processing and investment, benefit statements, renewals and lifestyling/investment switches. This role is likely to appeal to individuals with a minimum of 5 years’ experience although not exclusive as all applications will be considered on an individual basis.
- Experience of current pensions legislation and framework is essential, especially the regulatory requirements of the various Pensions and Finance Acts which impact on pensions administration.
- Experience of checking and mentoring more junior members of staff is required.
- Third party pensions administration experience preferred, although strong all round experience within an in house pensions department, which is not purely process driven will be considered.
- Previous presentational experience would be of distinct advantage to assist with client meetings and new business development activities.
- Able to demonstrate a numerical aptitude evidenced by work related experience or academic achievements as listed below.
- Previous project management experience would be required to perform pension administration project based work.
- IT proficient, in particular Microsoft Word, Excel, Outlook & PowerPoint.
Training, education & qualification
- Educated to a minimum of A Level or Degree or equivalent standard.
- Ideally a minimum of three C grades or above at A Level or equivalent qualification.
- Strong Maths and English GCSE or equivalent qualification - minimum grade B.
- Significant progression within a relevant pensions qualification e.g. CPC/QPA/DPC/RPC/APMI (or applicants deemed ‘qualified by experience’ would be considered).
Skills, abilities & personal qualities:
- Able to listen and follow instructions, procedures and assimilate information quickly. Equally comfortable in providing instructions to other members of the team to ensure consistent, accurate work is delivered.
- Involvement in informal mentoring/management of more junior staff.
- Proactively take ownership and responsibility for own workload.
- Effective interpersonal abilities, able to forge strong working relationships with colleagues and clients.
- A high degree of accuracy and attention to detail.
- Able to communicate effectively, professionally and concisely in writing, face to face and/or over the telephone.
- Good analytical and problem solving skills, capable of anticipating, resolving and owning problems to resolution.
- Able to recognise the need for a customer focused approach to their service delivery both in terms of quality and exceeding customer expectations.
- Able to delegate work priorities to less experienced staff and manage work flows to meet client and legal expectations.
- Forming successful professional relationships both internally and externally.
- Continuing to augment technical pensions knowledge as well as keeping abreast of legislative changes and is seen as a source of advice to others.
- Well-developed project management skills - able to see projects/tasks from concept through to completion within given timescales.