Retirement Fund Administration Team Lead

4 weeks ago

Cape Town, Western Cape, South Africa SALT Employee Benefits Full time
Job Summary

The Retirement Fund Administration Team Manager is responsible for overseeing the administration of retirement funds. This includes managing the administration team, planning, monitoring, and reporting. The manager must be innovative and improve admin processes, ensuring excellent stakeholder communication and maintaining accurate member data.

Key Responsibilities
  • Ensure all contributions are updated with the required time and LPI invoices are sent, where applicable.
  • Quality assure and process claims according to rules, policies, legislation, administration procedures/policies, and service level agreements.
  • Allocate transfers in timeously and pay out transfers out.
  • Execute switches accurately and timeously.
  • Ensure member data is accurate on the admin system.
  • Develop, enhance, document, and propose policies, procedures, and processes for efficient and accurate administration.
  • Manage unit prices.
  • Resolve queries on the system and manage workflows on Everest.
  • Analyze and monitor escalations and complaints, reporting trends and obtaining approval for solutions.
  • Support a positive and responsive climate for client/member enquiry resolution.
  • Ensure communication is dealt with professionally and within the SLA.
  • Allocate clients to the team and train, mentor, and coach team members.
  • Set and agree performance areas with staff and manage employee performance to ensure production standards are met.
  • Authorize payment of claims.
  • Perform quality control reviews on contributions updated, switches performed, and claims processed.
  • Perform the responsibilities of administrators when required.
  • Prepare and review monthly/quarterly reports.
  • Review fund implementation on Everest.
  • Review fund rules set up on Everest, including risk policies, investment mandates, and fees.
  • Manage SARS queries and generate and review benefit statements.
  • Manage benefit statement queries and fund implementation reviews on Everest.
  • Maintain Ebsphere issue logs and implement new system enhancements/testing.
  • Manage Benefit Counsellor/Float Pays queries and escalated client/member queries and complaints.
Requirements
  • Accept accountability of fund administration tasks.
  • Excellent analytical and problem-solving skills.
  • Good verbal and written communication skills.
  • Ability to work under pressure.
  • Industry knowledge and experience.
  • High level of accuracy and attention to detail.
  • Organizational skills/planning and prioritizing.
  • Good interpersonal skills.
  • Cross-team collaboration and motivating the team.
  • Time management and meeting deadlines.
  • Managing productivity and efficiency in the team.
  • Setting personal and career goals.
Qualifications
  • Undergraduate degree/Retirement Fund qualification.
  • Excellent Excel skills, including V-Lookup and pivot tables.
  • FICA awareness training.
  • At least 4 years of employee benefits/retirement fund administration experience in a similar role.
  • Good knowledge of pension fund legislation, specifically Section 13A, regulations, and guidelines.
  • Everest experience is advantageous.
  • Good knowledge and understanding of unitization.
  • Good knowledge of Microsoft Outlook and Word.
  • Excellent numerical skills with attention to detail and accuracy.

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