Head, Administration and Corporate Services (Senior Manager), Finance, Pensions at Central Bank of Kenya

Job Purpose

The role holder will be responsible for the provision of leadership in the development and implementation of the Benefits Administration and corporate services in line with the mandate of the Pension Division through effective facilitation, coordination and management of the benefits as well as effective management of the member relations.

Key Duties and Responsibilities

Strategic Responsibilities

• Oversee End-to-End Pension Administration.
• Enhance member service and engagement.
• Ensure regulatory compliance and risk mitigation.
• Drive operational efficiency and leadership.

Technical and Operational Responsibilities

Managerial Roles and Responsibilities

• Administer, supervise and manage all the activities related to the Division.
• Oversee the benefits computation, tax management, data compilation, data management and data analysis.
• Oversee the claims management, client engagement and financial advisory procedures.
• Prepare of Board reports relating to the activities of the Division.
• Ensure that the Scheme operates efficiently, meets its performance targets, quality and customer care targets as well as complying with best practice.
• Oversee the Pensioners’ payroll processing and account reconciliation.
• Provide effective and efficient communication between Scheme members, service providers and the regulator.
• Develop and implement effective strategic objectives for the Division in consultation with the Pensions Administrator as well as the Board of Trustees.
• Ensure effective maintenance of records of the Scheme, which include up to date individual membership records of serving employees, retired members and the rate of their basic pensions, actuarial records, assets of the Scheme and income tax reports.
• Carry out other general obligations of a manager including the administration of staff training, discipline and establishing staff requirements.

Operational Roles and Responsibilities

• Ensure prompt remittance of cash due to the Fund.
• Ensure periodic audit and actuarial valuation of the Fund.
• Liaise with the Pensions Administrator on the business to be presented to the Board of Trustee meetings and ensure decisions of the Board are implemented.
• Liaise with the Scheme actuary to prepare the members’ benefit statements and ensures a copy of an up-to-date actuarial report is received.
• Liaise with regulators – including Commissioner of Income Tax and Retirement Benefits Authority- on all laws or regulations that may affect the Scheme.
• Liaise with the service providers to ensure efficient performance.
• Ensure an effective link is maintained between Trustees and members of the Scheme.
• Receive contributions according to the Retirement Benefits Authority and Income Tax requirements.
• Ensure benefits are paid to members in a timely manner.
• Ensure payments of benefits are done in accordance with existing regulations.
• Any other roles and responsibilities that may be assigned from time to time by management or supervisor.

Key Result Areas:

• Submit accurate, timely and relevant Pensions Administration reports.
• Control of the operational cost of the Scheme’s Pension Administration activities effectively.
• Timely payment of benefits in accordance with existing regulations.
• Successful implementation of customer service delivery charter.
• Successful implementation of quality control standards for pension services offered by the Scheme.
• Continuous process improvement of services offered by the Scheme.
• Successful enhancement of customer relations with Scheme members.

Qualifications

• A Bachelor’s Degree in Insurance, Business Administration, Actuarial Science or any relevant or equivalent qualifications from a recognised institution of higher learning.
• Master’s Degree in Insurance, Business Administration, Actuarial Science or any relevant or equivalent qualifications from a recognised university will be an added advantage.
• Relevant Professional Qualifications such as ACII, AIIK or equivalent.

Work Experience

• A minimum of ten (10) years’ experience, three (3) of which should be in a Management role in the Pensions field.