Senior Associate – buy-in & annuity reconciliation

We are seeking an experienced and detail-oriented pensions professional to join our Scheme Events team as a Senior Associate.

Main purpose of role

As part of this team, you will proactively manage the overall reconciliation of DB pension schemes where a scheme buy-in has taken place, including reconciling incoming payments from insurers, notifying insurers of membership changes and raising data queries as appropriate. Responsibilities also include the reconciliation of insured individual annuities across all schemes in the portfolio.

Key responsibilities

• Run and Review reports detailing member movements and assess where action is required
• Manage incoming member annuity policies and ensure that these are maintained in a reconciled position
• Lead on developing new and improved processes in this area
• Working closely with the Client Projects & Data team, develop a process for hand over of Buy In work from project status to a BAU position
• Working closely with the Lead Associate & Scheme Services Manager, escalating matters where necessary
• Ensure accuracy of written and verbal communication
• Knowledge of policies and process of ISO 27001 and where they can be accessed and followed
• Has awareness of the ISO22301 standard and our business continuity management system. Read and understood key policies in the BCMS and understands what to do in the event of an incident
• Identify efficiencies and better ways of working to improve operational efficiency and reduce costs
• Participate in new business exercises, representing the Company to external prospects and clients as required
• Support the implementation of new clients where buy in currently exists to ensure no interruption of services
• Ensure processes and documentation are kept up to date
• Potential for line management / coaching responsibilities in the future

Professional qualities

• Experience of occupational DB pension Schemes
• Experience of building new end to end processes
• Knowledge of Buy In and Annuity processes
• Knowledge of interface processing and query management (desirable but not essential)
• Strong analytical and problem-solving skills, particularly in relation to member data
• Good MS Excel knowledge and proficiency in other programmes (MS Word and Outlook)
• Ability to identify areas of continuous improvement
• Track record of delivering first-class services to either clients or members
• Ability to review the work of others to ensure accuracy
• Knowledge and understanding of current pension legislation and an appreciation of upcoming changes
• Experience of delivering projects to specification, time and budget

Personal qualities

• Strong interpersonal skills, able to guide others and effectively pass on knowledge
• Gravitas to work well within a team with strong communication skills, both written and verbal
• Ability to interpret and articulate information effectively
• Pragmatic with a keen eye for detail
• Personal drive and able to take a proactive approach
• Logical approach to problem solving, with an understanding of the impact of decisions made
• High level of numeracy and IT literacy
• Good judgement and decision-making skills
• Organisation, planning and time management skills
• Ability to work well under pressure
• Common sense and personal integrity

Reporting Line

Reports to: Lead Pensions Associate – Scheme Services Team