This position can be located within our London, Bristol or Potters Bar office.
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third-party customers.
Job Summary:
• The job purpose is to provide project management of our existing portfolio and onboarding of new bulk annuity business through the end-to-end process. The role holder will ensure a robust control environment as a scheme transitions.
• The role holder will be considered a specialist for the company in respect of the Defined Benefit pensions administration and bulk annuity business with an in-depth understanding of the end-to-end bulk annuity process and the external market.
• Ensure effective and complete stakeholder management through the transition process until the final premium is completed, communicated and settled, ensuring Trustees have the best customer experience at all times.
Responsibilities:
1. • Project Manage all assigned transitions from exclusive appointment, or earlier if required, ensuring timely completion of all tasks in line with client and business expectations.
2. • Be the main contact for your own portfolio of new client installs, attending beauty parade, regular transition calls/meetings with the client and as required by the ceding third-party administrator.
3. • To oversee the transfer of assets for new clients. This role will involve end-to-end planning of the asset transition and data migration for new business.
4. • Ensure that all delivery promises and performance standards are achieved.
5. • Communicate and agree operational tasks for all schemes in transition such as movement reporting and payroll funding with client, agreeing non-standard processes internally before implementing with clients.
6. • Ensure understanding of final data and data queries, managing queries between Canada Life and the Client until finalised data schedule is agreed to a satisfactory level to be handed over to Operational Teams.
7. • Be a point of reference on technical issues and administration related queries.
8. • Work with your team and the business to create a positive working environment.
9. • Provide an efficient, professional service to meet all client/members’ needs and to promote the Canada Life brand.
Experience Required:
1. • Strong knowledge of DB pensions and previous experience in dealing with DB pensions administration in particular deferred liabilities.
2. • Experience of working on projects or implementations.
3. • An understanding of DB pensions, pension scheme administration requirements and systems.
4. • An understanding of DB de-risking administration requirements and how they differ from standard pensions administration.
5. • Strong numeracy and analytical skills.
6. • Ability to grasp complex financial/actuarial concepts and methodologies.
7. • Able to organise work under pressure and to tight deadlines.
8. • Good knowledge of all products, processes and procedures within team.
9. • Able to assist between all teams as demand requires.
10. • Able to develop good working relationships within team and with internal and external customers.
Benefits of working at Canada Life:
We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that’s regularly reviewed. As a Canada Life UK colleague, you’ll receive a competitive salary and comprehensive reward package including a generous pension and bonus scheme, along with income protection, private medical insurance and life assurance.
Diversity and inclusion:
Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity or any other characteristic is a key commitment for us. We appreciate that everyone has different work and life responsibilities. We’re happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for you.
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