Senior Pension Operations Analyst

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.

At PIC we are excited to be recruiting for a Senior Pension Operations Analyst to join our Customer Operations department. You will effectively collaborate with Risk / Transitions / Finance to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate, and apply knowledge and insights concerning the Customer Operations function and how this impacts our policyholders.

You will also work 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.

Specific accountabilities assigned to the role of Senior Pension Operations Analyst within Customer Operations:

• Supporting the Outsourced Administration Manager to maintain oversight of PIC’s Outsourced Administration Teams and ensure PIC Policyholders always receive exceptional customer service, ensuring they are hitting their KPI’s and other commitments.
• Conducts thorough analysis of quality assurance checking of work carried out by the outsource administration teams, including file reviews, call handling, key processes, pension increases, new process checking and complaint reviews. Identifying trends, training opportunities and process improvements
• Responsible for reviewing funding calculations including working with internal actuaries to solve queries
• Collaborates with outsource administrators on complex calculations and answers complex queries
• Produces inputs into MI and reports for PIC Senior Management
• Helps to identify and implement process improvements/efficiencies in PIC’s administration model
• Undertakes ad-hoc project work as required, managing work streams and making sure timescales are met
• Attends and participates in client meetings with our Outsourced Administrators
• Liaises with regulatory bodies such as the Financial Ombudsman Service
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Pension Services Team
• Ensure our outsourced administration partners are understanding and working within PIC guidelines for Consumer Duty
• Providing a high level of service to Trustee clients and suppliers
• Providing pension technical expertise, with the ability to interpret rules and legislation
• Provides knowledge and insights concerning the Customer Operations function and how this impacts our policyholders.

Requirements

Experience:

• Experience working in defined benefit pensions administration
• Experience of delivering excellent customer service when dealing with external and internal stakeholders

Skills:

• Strong organisational 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

Knowledge:

• Good technical knowledge of defined benefit pension schemes.
• Established knowledge of Pensions Administration especially defined benefit pension schemes
• Familiar with complex pension calculations
• Familiar with pension buy-ins & buy-outs and transitions process

Desirable personal attributes aligned to what success looks like in the role:

• Intellectually curious with a willingness to learn through own research.
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
• Effective communicator – structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies.
• Innovative thinker – positive attitude to change and a willingness to embrace new ideas and techniques to improve performance

Benefits

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.