Pensions Administrator Jobs Vacancy at Xps Administration Part The Pensions Group Chelmsford
Xps Administration Part The Pensions Group Chelmsford urgently required following position for Pensions Administrator. Please read this job advertisement carefully before apply. There are some qualifications, experience and skills requirement that the employers require. Does your career history fit these requirements? Ensure you understand the role you are applying for and that it is suited to your skills and qualifications.
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Pensions Administrator Jobs Vacancy at Xps Administration Part The Pensions Group Chelmsford Jobs Details:
To be successful you will need to be able to demonstrate a fundamental knowledge of DB pensions administration activities including leavers, retirements, deaths, transfers in, transfers out, monthly processing and investment, benefit statements, renewals and pension increases, preferably gained within third party pensions administration provider. You will need to display an numerical aptitude, the ability to work to strict deadlines and maintain a high degree of customer focus to your work. Educated to a minimum of A Level or Degree, and studying for/ or a willingness to study for relevant pensions qualification. Some DC experience would be advantageous.
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.
Key responsibilities & accountabilities
Performing all basic and intermediary pensions administration and project related tasks e.g. handling of new entrants, leavers, retirements, transfers and deaths.
Key responsibilities include:
- Adhering to best practice procedures in all aspects of pensions administration related tasks as defined by the Company
- Participating in annual projects such as; renewals, benefit statements, life assurance, PHI and pension increases. 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
- Monitoring on going procedural developments and implementing changes to procedures where required
- First level checking of work completed by more junior staff. In addition, final checking of non-financial work e.g. change of address
- Informal training and mentoring of more junior members of the team
- Receiving and handling internal and external telephone queries and where applicable becoming first point of contact for clients
- Running automated systems calculations
- Performing manual benefits calculations
- Producing ad-hoc letters to 'draft standards' using Electronic Document Management system (EDM) in response to customer queries or able to complete standard tasks to 'final letter standards'
- Developing intermediate knowledge and awareness of their clients and associated schemes
- Taking responsibility for ad-hoc projects and exercises
- Assisting the team with project related work e.g. bulk mailshots to scheme members
- Updating relevant pension administration databases and systems
- Dealing with more complex pensions queries
- Logging and scanning post/correspondence
- Handling both Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) queries
- Assisting in non-client related work such as technical committees, training and events
- 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
Due to the changing nature of the business, the job holder may from time to time be required to undertake other activities of a similar nature that fall within their capabilities.
This section describes the experience, education and skills necessary for the role (at the lowest level that is necessary for full & effective performance).
Knowledge & experience
- Able to demonstrate a fundamental knowledge of pensions administration activities and can apply this knowledge to any scheme
- Previous pensions administration experience of Defined Benefit (DB) and Defined Contributions (DC) schemes (depending on the role, experience of DB/DC may differ subject to team requirements) including leavers, retirements, deaths, transfers in, transfers out, monthly processing and investment, benefit statements, renewals and pension increases. This role is likely to appeal to individuals with a minimum of 2 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 would be desirable
- 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
- Able to demonstrate a numerical aptitude evidenced by work related experience or academic achievements as listed below
- IT proficient, in particular Microsoft Word, Excel & Outlook.
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
- Studying for or a willingness to study for a relevant pensions qualification e.g. CPC/QPA/DPC/RPC/APMI.
Skills, abilities & personal qualities
- A self-motivated approach to professional and personal development
- Willingness to learn
- Able to follow instructions, procedures and assimilate information quickly in a consistent manner
- Able to take ownership and responsibility for own work
- Enthusiastic, positive and flexible approach to work
- Effective interpersonal skills
- A high degree of accuracy and attention to detail is required in order to perform their duties both numerical and written
- Good oral and written communication skills
- An active listener and able to follow through on the instructions given
- Able to work as part of a multi-disciplined team
- Good problem solving skills
- Able to recognise the need for a customer focused approach to their delivery both in terms of quality and exceeding customer expectations
- Excellent organisational and planning skills
- Forming successful professional relationships both internally and externally
- Sharing knowledge with colleagues
- Flexible approach to work pressures
- Continuing to augment technical pensions knowledge
- Continues to seek ways of improving processes and procedures
- Ability to work in advance of deadlines and prioritising multiple tasks
- Well-developed project management skills - able to see projects/tasks from concept through to completion within given timescales.
(Qualities that would be desirable for candidates to possess, but are not deemed critical in performing the role at entry level, but would be anticipated as the incumbent develops within the role)
- Involvement in informal mentoring and management of more junior staff
- Proactively managing own workload
- Capable of anticipating, resolving and owning problems
- Forging client relationships as first point of contact
- Thinking beyond the immediate team
- Taking on more responsibility
- Increasing commercial and business awareness
- Developing personal impact with colleagues
- Deputising for more senior members of the team during periods of absence.