Pensions Administration Manager (Insurance)
Location: Reading
Employment Type: Permanent, Full Time
Grade: Senior Consultant
Hybrid
REQ003627
About XPS Group:
XPS Group is a prominent and growing UK consultancy and administration firm within the pensions and insurance sectors. As a FTSE 250 company with over 2000 employees, we leverage expertise alongside advanced technology to serve over 1,400 pension schemes and their sponsors. Our goal is to foster a workplace where diverse talents thrive.
About the Role:
Our teams of pensions administrators provide services to a wide range of insurance and trust-based pension schemes, including defined benefit, defined contribution, career average revalued earnings, and hybrid schemes. We are currently seeking an Administration Manager to join our team, to provide an effective and efficient pensions administration service to XPS Administration clients, whilst participating in achieving team objectives. This is a hybrid role with an office presence expected twice per week but will require more office time during the initial ‘settling in’ period.
Key Responsibilities:
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Working closely with the Deputy Managers as prime day to day contact for a given Insurer client to ensure provision of high-quality insured pension administration and consultancy services.
- Participating in strategic business changes i.e. critical success factors, implement decisions made by the Board and Senior Management and understand the issues that affect the performance of the Company.
- You will be involved in a wide range of pensions administration, management and consultancy tasks.
- You will have prime accountability for the service delivery in terms of quality, profit and sustainability for an assigned Insurer portfolio as well as the day to day line management of the designated team. Key responsibilities may include:
- Leading the provision of pensions administration services for the assigned Insurance portfolio.
- Overseeing day to day management of client relationships with insurer, and participation in client meetings where applicable. Taking a proactive stance to gain an extensive knowledge of assigned portfolio to ensure client confidence, credibility and trust. Reacting to clients’ needs in a positive manner but maintaining the commercial interests of the business.
- Active participation in XPS Administration’s marketing initiatives, new business activities, attending new business pitches and company events. Seeking opportunities to generate additional income from existing client portfolio.
- Providing expert advice solutions to pensions queries and pensions consultative advice; keeping abreast of technical and legislative developments within the insured pensions industry.
- Overseeing the project management of annual and ad-hoc projects such as Policy Document production, i pension increases and governance reports and any other information required. Ensuring projects are fully monitored and completed in line with customer and legislation requirements.
- Involvement in the scrutinising of client work of other less experienced pensions administration team members. Signing out of ad-hoc and standard letters in response to customer queries.
- Taking responsibility for all aspects of admin billing, in conjunction with Operations Manager and/or Client Manager. Ensuring all recorded admin time is billed or accrued by the monthly deadline, all chargeable work is correctly recorded on the time recording system and billed as soon as possible, and all bills are issued and payment received on time.
- Disseminating information to team members on service delivery objectives and targets for assigned client portfolio. Presenting of technical matters at team meetings.
- Leading non-client activities, conducting internal audits and quality assurance reviews, being alert to potential improvements in pensions administration processes, quality improvement and implementing changes. Ensuring Governance tracking measures (for example central spreadsheets, error logs etc) are updated promptly.
- Assuming responsibility for total workflow management for the designated team, including workload allocation, prioritisation and ensuring delivery in line with client expectations, legal timescales and service level agreements (SLAs). Holding regular workflow meetings with senior team members to manage progress and resolve any issues.
- Identifying team objectives or other necessary changes in line with business needs, and actively implementing appropriate course of action.
- Positively contributing to regular management meetings, implementing any recommendations or decisions made in terms of working practices, resourcing, efficiencies and dissemination of communications to more junior staff.
- Formal staff management responsibilities including areas such as; conducting appraisals, setting individual and team objectives, handling HR, performance management issues and recruitment related activities as and where required.
- Formal responsibilities for mentoring, training, coaching and developing of pensions administration team members. Ensuring adherence to company policies and working procedures.
- Forging strong working relationships 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 Consulting and Business Support.
- Ensuring the accurate updating on the time recording system for both chargeable and non-chargeable activities, enabling team and self to meet required utilisation and recovery targets, and providing encouragement to team to meet targets and objectives. Reporting to senior management by exception.
- Liaise with incumbents during pricing and shadow periods and in the transitions for buy in and buy out.
- Attend regular service delivery meetings with insurance client to represent administration
- Attend client pitches as required for Trustees looking to move into the insurance product
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.
Your Profile:
Essential:
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Knowledge and experience of working in the insured administration field.
- Able to demonstrate an expert knowledge of pensions administration activities and apply this knowledge to any scheme.
- Previous pensions administration experience of insured and Defined Benefit schemes including leavers, retirements, deaths, transfers, monthly processing and investment, benefit statements, scheme renewal and pension increases. This role is likely to appeal to individuals with significant experience although not exclusive as all applications will be considered on an individual basis.
- Thorough knowledge of pensions legislation framework and demonstrable ability to remain informed of changes to the framework.
- Previous supervisory, leadership and management experience including performance monitoring, appraisals, recruitment etc.
- 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.
- Previous presentational experience is desirable to assist with client pitches, trustee meetings and account development activities.
- Able to demonstrate a numerical aptitude evidenced by work related experience or academic achievements as listed below.
- Previous project management experience would be required to perform pension administration project based work.
- IT proficient, in Microsoft Word, Excel, Outlook & PowerPoint.
Desirable:
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Marketing and new business activities.
- Developing business contacts/relationships.
- Experience producing client reporting or governance materials.
- Experience of client facing work including presentations.
- Experience in writing tender documentation and assisting with contracts.
What We Offer:
Enjoy a competitive salary, annual discretionary bonus, and 25 days’ holiday with buy/sell flexibility. Benefits include pension matching, healthcare plans, life assurance, and retailer discounts. We support our team with a flexible benefits scheme, employee assistance, and digital GP service. Participating in volunteering events is encouraged with paid volunteer days available. Referral bonuses are offered for introducing suitable candidates to XPS.
How to Apply:
Interested candidates should submit applications via Apply Now option or contact
[email protected] for more information. Join XPS Group and contribute to a dynamic and inclusive workplace.
Equal Opportunities Statement:
XPS Group is committed to diversity and equal opportunities. We welcome applications from all candidates, irrespective of sex, race, disability, sexual orientation, religion, or belief. As a Disability Confident employer, we ensure accessible and supportive work settings for all employees.
Eligibility:
Any employment offer made will be conditional upon you satisfying DBS Disclosure checks, Employment or educational references, Satisfactory credit checks and eligibility to work in the UK before an offer can be made. XPS Group is not able to provide sponsorship to employees.
Who Are We:
To find out more please visit: www.xpsgroup.com
