Pension Administrator at CIC Insurance Group
Job Description
Job Summary
Reporting to the Assistant Manager – Client Relations, the Pension Administrator will be responsible for administration of retirement benefits schemes within CIC Life Retirement Benefits Department as per the regulator and stakeholders’ requirements.
Job Summary
- Maintaining a high standard of customer service through timely and quality response to all clients’ requests and needs.
- Providing superior services to retirement benefits to forge strong business relationships and ensuring the fund is managed and administered in full compliance with existing legislation.
- Processing and sending payments, member statements, preparing accounts and other benefits within the set standards for Defined Contributions Scheme, Defined Benefits Scheme and Hybrid Schemes.
- Conserving the business by offering alternative products, cross selling and follow-up leads for new business.
- Maintaining accurate records for retirement benefits.
- Filing of Quarterly Return of Contributions with Retirement Benefits Authority every quarter.
- Marketing organizations products.
- Preparing summary reports of the retirement benefits business when required and on a timely basis.
- Attend Board of Trustees meeting as the administrator and take minutes when required and generally advise the Trustees
- Attend the Annual General Meeting of the members and present the Fund Administrators Reports.
- Ensure Compliance with Retirement Benefits Authority and KRA on various pension schemes, including licensing by RBA.
- Guide new schemes in the registration process with RBA & KRA.
- Processing pensioner’s payroll, preparing life certificates and P9 forms.
- Assist in drafting of the Trust Deed & Rules/ Deed of Adherence/ Service Level and updating from time to time.
- Member education to Trustees and members and preparing quality reports for AGM and Quarterly Trustee Meetings.
Educational Qualifications, Experience, & Skills Required
- Bachelor’s degree in business, Insurance, Actuarial, Statistics/Mathematics
- Minimum of 2 Years work experience in a similar role
- Progress towards a professional certification (AIIK/FSRI/ACII) is desirable
- Excellent communication and presentation skills
- Technical competence in insurance and pension administration
- Proficient in MS Excel with excellent analytical skills
- In-depth knowledge of the retirement benefits sector is desirable
- In-depth knowledge of regulations by RBA, AKI and IRA is desirable
