Position: Pensions Manager
Location: Port-of-Spain / Trinidad and Tobago
- Assists in preparation of annual plans and objectives and supports the achievement of business development targets as outlined in departmental plans.
- Interprets Trust Deeds and Rules of Pension Plans and provides clients with advice, suitable amendments and improvements.
- Oversees the administration, calculation of benefits and preparation of benefit statements for defined benefit, defined contribution and hybrid pensions.
- Liaises with the BIR and Inspector of Financial Institutions to achieve legal and contractual requirements within their required time frames.
- Assures that trustees and plan sponsors are kept abreast of pension plan issues through assuring that at least one meeting is held with the stakeholders each year for each plan.
- Prepares and submits reports – regulatory reports, quarterly reports (segregated asset plans), and requests for information within the required time frames.
- Ensures correct and timely payment of PAYE tax and tax on contribution refunds to BIR by the 15th of the month.
- Oversees the dispatch of billings and ensures the timely collection of premium income from the various pension plans.
- Maintains and monitors the standardized programs for benefit calculations assuring consistency to Pension Plan rules and accuracy of factors used.
- Compiles data and membership movement reconciliations on pension plans to support Actuarial valuations and IAS reporting.
- Ensures necessary Certificates of Existence and Tax Forms are received from pensioners and correct tax deductions are made from pension payments.
- Oversees the preparation and payment of pensions to Annuitants/Pensioners by the 26th of each month.
- Bachelors degree from an accredited college/university in Business Management, Business Administration, Actuarial Science, Applied Statistics, Mathematics.
- LOMA Level 1 & 2
- Good knowledge of Microsoft Office Suite, e.g. Microsoft Word, Excel, Access and PowerPoint.
- At least 7 years progressive experience in the field or in a related area.
- Supervisory/management experience a necessity.
- Associated classes or courses and/or industry license, or designation. Familiar with a variety of pension administration concepts, practices, and procedures.
- A good understanding of pension plans, insurance products and the governing legislation.
- Business Perspective – Using an understanding of business issues, processes, outcomes and financial information to enhance business performance.
- Decision Making – Making Decisions involving varied level risk and ambiguity.
- Governance & Compliance – Driving and complying with Group Policies and procedures to ensure sustainable and risk-managed business operations.
- Strategic Thinking – Understands and processes complex information and exercises sound judgment, considering the situation, the issues, the key players and the levels of authority involved. Proposes course of action that furthers the objectives, priorities and vision of the organization while promoting and ensuring alignment with the organization\’s visions and goals.
- Results Management – Organizes time, work and resources to accomplish objectives in the most effective and efficient way.
- Leading and Developing Self – Ability to develop and demonstrate personal flexibility though the willingness and ability to manage self and overall learning endeavors.
- Leading and Developing Others – Fostering employee development by providing a supportive learning environment.
- Respect for Others – Driving organizational success by treating others with dignity and appreciation for their contributions
How to apply:
These are the requirements for applying for this job:
- Do you possess a Bachelors' Degree in Business Management, Business Administration, Actuarial Science or Mathematics? - Do you have LOMA Level 1 & 2? - Are you proficient in Microsoft Office Suite? - Do you have at least seven years' experience in the Financial Services/Insurance field?