Operational Risk Coordinator - Pensions
This is a Permanent, Full Time vacancy that will close in {x} days at {xx:xx} BST.
The Vacancy
Our Third Party Administration (TPA) Risk department is a dynamic team who provide best practice and dispute resolution advice to our pensions teams across the Third Party Administration business unit.
We currently have an exciting opportunity to join this department as an Operational Risk Coordinator, within our Birmingham, Edinburgh or Glasgow Office.
What will your role look like?
You will provide high quality practical advice in response to client and member complaints to the internal administration teams and provide technical guidance in line with the Pensions Ombudsman and Regulators requirements whilst identifying risks in the business unit and supporting the embedding of controls into processes across the TPA business unit.
Though this is a varied role, your key tasks will include:
- Reviewing letter drafts prepared by the admin teams in response to the complainant.
- Supporting the admin teams in reviewing or drafting any client communications that may be required.
- Carrying out root cause analysis and identifying if other members are impacted; then working to resolve the underlying issues and rolling out any changes to the admin teams.
- Preparing requests for and co-ordinating compensation payments.
- Providing pension technical advice on more complicated cases.
- Escalation of cases to management, TPA Leadership Team and Legal and Risk, as required, providing a summary of the cases and recommendations for next steps.
- Identification of risks to the Business Unit and proposing controls to help mitigate these risks.
- With guidance from the TPA Operational Risk Manager, analyses and helps to prepare Management Information for the TPA Leadership Team and the firm’s Management Group.
To enjoy and succeed in this role, you will have:
- Significant experience of working in the pensions industry, ideally an administration environment with commensurate DB and DC pensions technical knowledge, is essential.
- Experience in handling risk events/errors and complaints, with an awareness of industry best practice in pensions administration.
- Excellent verbal and written communication skills with experience of interfacing with senior level stakeholders.
- Proficient in processing and/or understanding of third party pensions administration processes, such as, Transfers, Retirement’s, Deaths and Divorces.
- Confident in providing clear, transparent and fair communications to internal and external stakeholders.
- Strong analytical skills and attention to detail.
- Excellent IT skills, including working with MS Word and Excel and experience of a pension administration system.
Ideally, we would be looking for candidates to hold a professional qualification such as an accreditation from the Pension Management Institute (or be working towards this). However, we would also be open to applications from candidates who don’t meet all of the above requirements but could bring a knowledge of the UK pensions market from relevant industry experience.
A more detailed list of requirements for this position is available within the role profile – which is available on request.
In addition to a competitive salary and access to our profit share scheme, we offer:
- A flexible selection of employee benefits, so you can choose a package that best matches your lifestyle and needs.
- A collaborative and encouraging work environment where your thinking and ideas are encouraged.
- On site mental health and wellbeing assistance.
- A commitment to helping you develop both personally and professionally, with mentoring opportunities and access to our award-winning learning portal, Aspire.
- Regular social activities, in addition to three days paid volunteering leave each year and a day’s leave to celebrate your birthday.
- Hybrid working so you can enjoy the positive wellbeing of working from home as well as the benefits of meeting colleagues in our sociable, modern office environments.
About Us
Together, we’ve been building better futures for over 100 years. For our people, our clients and their people, our communities and the environment.
We thrive on tackling complex problems. And we believe those problems are best solved by diverse teams – diverse in skills, approaches and backgrounds. Our independence lets our people be themselves and think freely, while working in a collaborative, supportive environment. We love innovative, independent thinking and want everyone to share their ideas.
Working alongside employers, trustees and financial services institutions, we offer pensions, investments, benefits and risk consulting services, as well as data and technology solutions. With over 1000 employees and counting, we’re one of the leading consultancies in our field and are proud to be recognised by numerous industry awards.
We’re committed to developing our people and encourage everyone to carve out their own career path. We’ve many colleagues who started out in one team in the business and have ended up somewhere completely different, having had the chance to develop new skills and explore new passions.
We are continually working to improve our inclusive culture and employ diverse talent. We therefore welcome applications from people from all backgrounds, which includes but isn’t limited to: age, disability, ethnic heritage, gender, marital or civil partnership status, neurodiversity, religion, sexual orientation, and socio-economic background.
Our hybrid working model offers the best of both worlds – home working as well as a fun, collaborative office environment - meaning flexible working patterns to accommodate individual needs. Find out more about our careers here.
If you need any assistance in relation to a personal requirement, medical condition or neurological difference during our selection process then please let us know.
Together, we can make this the best job you’ll ever have.
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