Pension Services TPA Manager

🕒 March 18

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Pension Insurance Corporation plc

WebsiteLinkedInAll Job Openings

201 - 500 employees

💰 Private Equity Round on 2018-06

The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At half year 2023, PIC had insured 339,900 pension scheme members and had £44.9 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. PIC has made total pension payments of almost £12 billion to its policyholders. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345).

📋 Description

• **Specific accountabilities assigned to the role of Pension Services TPA Manager within Customer Operations** • - Lead the Pension Services TPA Team, ensuring effective governance and oversight of Third Party Administration partners (TPA partners), and provide support to the Pension Services Technical Manager as required to ensure effective governance and oversight of Buy In Scheme Trustee Administrators • - Act as line manager for direct reports, including objective setting, performance management, personal development planning, and oversight of productivity and quality outcomes. • - Oversight of TPA partners work pipeline to ensure delivery against agreed KPIs and SLAs, maintaining high quality standards across complex pension processes, regulatory queries, DSARs, pension increases, overpayment controls, high value payments, and trustee reporting, identifying training opportunities and process improvements • - Work closely with internal teams (Transitions, Actuarial, Payroll, and Implementations) to ensure robust processes and scheme knowledge are in place ahead of Buy In administration transfers to TPA partners • - Support forecasting and planning activities for new scheme administration transfers to TPA partners in collaboration with the Pension Services Oversight Manager. • - Identify and coordinate delivery of appropriate technical and scheme specific training to ensure team readiness for Buy In Under Admin/ Buy Out transition to TPA partners • - Identify and coordinate general technical support, training and complex query resolution for the Pension Services Oversight team and TPA partners • - Deliver ongoing technical support and complex query resolution our TPA partners, fostering strong and collaborative working relationships. • - Support the Pension Services Technical Manager with internal and external audit activity, and oversee TPA Partners risk incident management, in line with PIC assurance requirements. • - Attend trustee and TPA partners governance meetings as required, fostering excellent relationships and ensuring delivery against agreed governance frameworks • - Partner with the Pension Services Technical Manager to develop team capability, skills, and accountability • - Ensure TPA partners and Trustee Scheme administrators operate in line with PIC Consumer Duty requirements, monitoring and addressing adherence as necessary • - Support the Pension Services Oversight Manager to ensure all TPA Partners provide PIC Policyholders with exceptional customer service, ensuring agreed service standards are met. Where not being met and agree remedial actions • - Provide insights concerning the Customer Operations function and how this impacts our policyholders • - Produce accurate, high quality management information and reporting for senior management. • - Drive continuous improvement by identifying and implementing efficiencies within PIC’s administration model. • - Manage ad hoc projects and workstreams as required, ensuring delivery to agreed timescales. • - Liaise with external regulatory bodies, including 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

🎯 Requirements

• **Knowledge** • - Strong technical knowledge of defined benefit pension schemes • - Established knowledge of pensions administration management • - Good knowledge of third-party administration relationship management • - Good knowledge of scheme Trustee relationship management • - Good knowledge of pension buy-ins, buy-outs and transitions • - Strong knowledge of good consumer duty outcomes • **Skills** • - Strong organisational skills • - Strong communication skills • - Ability to persuade and influence both directly and indirectly • - Ability to manage people and other resources effectively • - Ability to organize work to meet deadlines • - Ability to work within defined procedures as recommended by functional teams • - Effective collaboration with key stakeholders • - Good relationship management skill • - Commercial judgement • - Good working knowledge of MS Access, MS PowerPoint, MS Word • **Experience** • - Experience in managing pension administration teams • - Experience of delivering excellent customer service in a defined benefit pensions operations arena • - Experience of transitioning schemes into a standard operating model • - Experience of delivering good consumer duty outcomes for customers • - Experience of managing third-party administrators and scheme Trustees • - Experience of implementing process improvements

🏖️ 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 will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.