Pension Onboarding Specialist

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

Role purpose

• The role requires the ability to effectively collaborate with third-party administrators, trustees and transitions to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate.

• To apply knowledge and insights concerning the implementation of new clients with PIC and how this impacts our policyholders.

• To deliver strong business outcomes relating to capital, profitability, the Company brand and market reputation whilst achieving positive outcomes to our policyholders, shareholders, and Trustees on a consistent basis.

• Our Company values are expected to be reflected in the delivery and performance of every role.

• Support the Head of Pension Operations in providing a high level of service to clients and policyholders at all times.

• Collaborate with PIC transition manager to deliver successful onboarding for PIC and Scheme Trustees.
• Take a lead role in on-boarding new schemes into the PIC operating model ensuring all scheme benefits are fully understood and specified, that incoming data is fit for purpose for both administration and actuarial valuation, and ensuring parallel payroll and pension increase runs have been fully tested and signed off.
• Complete detailed analysis to make sure data is fit for purpose and satisfies all PIC requirements by taking a lead role in data reconciliation and data verification work, and shadowing payroll and pension increase testing.
• Collaborate with Outsourced Admin Team and Customer Experience Team to ensure operational readiness for delivery of successful onboarding for PIC and Scheme Trustees, including calculation automation, website release, communications and ensuring all process and documentation requirements and ready for go live.
• Collaborate with PIC internal actuaries to make sure valuation data requirements are fully understood and documented, including resolving data issues as required to achieve this.
• Lead calls/meetings with outsourced administrator to achieve desired timeframes and outcomes.
• Prepare MI for PIC internal stakeholders and Senior Management.
• Identify and implement improvements/efficiencies in PIC’s administration model.
• Ensure that the projects being completed meet agreed milestones and deliverables, whilst also meeting expected standard in quality.
• Complete internal projects relating to new business onboarding into the PIC model.
• Understand and work within Pension Corporation’s Guideline on Consumer Duty.

Knowledge:

• Good technical knowledge of defined benefit pension schemes
• Familiar with project management techniques
• Familiar with pension buy-ins & buy-outs and transitions process

Skills:

• Strong organizational skills
• Strong communication skills
• Ability to persuade and influence both directly and indirectly
• Ability to organize work to meet deadlines
• Ability to work within defined procedures as recommended by functional teams
• Effective collaboration with key stakeholders
• Good working knowledge of MS Access, MS PowerPoint, MS Word.
• Good level of Microsoft Excel competency (intermediate)  with a keen desire to develop existing knowledge.

Experience:

• High level of pension experience
• Experience in DB pension scheme onboarding
• Experience of complex data analysis work
• APMI or capable and willing to work towards achieving it
• Experience working in a corporate or consulting environment

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you’ll get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.