Team Lead, Retiree Benefits - SIPML at Stanbic IBTC Bank

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.

Stanbic IBTC Bank is recruiting to fill the position below:

Job Title: Team Lead, Retiree Benefits - SIPML

Job ID: 12810
Location: Nigeria
Job Type: Full Time - Permanent

Main Purpose of the Job

• The Team Lead - Retiree Benefits is responsible for the general supervision and monitoring of payment to retirees, follow up on clients with outstanding documents/requirements for payment and rendering of periodic reports on the activities of the unit.

Key Responsibilities
The Team Lead - Retiree Benefits must ensure the following:

• Act as a 2nd level check in the approval process of benefits applications.
• Timely and Accurate payments to clients based on approvals received from PenCom.
• Timely Processing of payments on AES Funds based on instructions received from Fund Sponsors in accordance with the Funds' operational documents.
• Effective management of the Programmed Withdrawal payroll for relevant Retiree Funds.
• Review of the Excess Remittance Fund, Death Benefits and Retiree Fund Accounts to ensure clients eligible for payments are contacted and advised to apply and appropriate resolution.
• Effective management and follow up for clients whose payments could not be processed due to issues(ABU).
• Effective management and follow up for clients whose payments were returned by their banks(NEFT).
• Prompt and appropriate responses to email requests from stakeholders with respect to update / information / documentation required for treatment of client's requests.
• Conducting Annual Annuitant Verification for applicable Retiree Funds.
• Preparation of Prompt and accurate Administrative Fees Invoices for applicable funds.
• Preparation of Statutory Reports as required by the Commission and Fund Sponsors on a monthly basis and based on requests.
• Preparation of Management reports relating to BMU for the Operations Monthly performance Review and Monthly KRI.
• Performing all other duties as may be required from time to time to ensure effective transaction processing.

Key Performance Measures

• Zero processing error.
• Zero regulatory infractions / sanctions for transaction processing issues.
• Timely processing of clients' applications
• Reliable reporting system - timely and accurate Reports rendition.
• Satisfactory Audit rating.
• Positive / Green risk ratings on department operations.
• Seamless succession within the team in the absence of unit head or team lead.
• Operational loss < 0.1% of total BMU expenses.

Key Dimensions of the Job:

• Ensure that benefits payments are processed accurately and in strict compliance with prevailing guidelines, regulations and circulars.
• Ensure the provision of appropriate information to all enquiries received for benefit applications.
• Ensure prompt delivery of applicable Reports.
• Ensure practical and efficient succession/back up plans within the team.
• Mentor and supervise team members to aid development.

Required Skills and Qualifications

Knowledge:

• Good University Degree or its equivalent in a numerate or semi numerate field.
• Good understanding of the Company's Products and Services.
• Excellent understanding of the Contributory Pension Scheme and the pension industry in general.
• Computer literate with good knowledge of Microsoft office tools.
• A good and up-to date knowledge of the Pension Reform Act and any other related regulations.

Experience:

• Experience in benefits management process

Required Competencies

Personal Competencies:

• Analytical / Numerate skills
• Result oriented
• Ability to work with minimal supervision
• Team player
• Excellent communication skills - written and oral
• Meticulous, paying attention to details
• Resilience

Application Closing Date
10th April, 2015.

How to Apply
Interested and qualified candidates should:
Click here to apply online