Head of Pensions

JOB TITLE: Head of Pensions

LOCATION: Henley on Thames

PACKAGE: £60-80k

WAY OF WORKING: Office Based

THE BUSINESS:

My client are a reputable family owned business with a superb reputation in their field.

THE OPPORTUNITY:

• To provide an efficient and consistent administration service to scheme members via the Team
• Ensuring high and accurate standards of work at all times by the individual and the Team
• Develop positive communication and working relationships with both clients and internal Advisers
• Identify and resolve problems that may arise with day to day work issues in the Department
• Responsible for the day to day running of the Department and work produced, with some liaison with Business Administration members in respect of policy documentation issues and processing of new business applications
• At all times, be operating under strict regulatory and legislative regulations and follow internal procedures and systems
• To assist in the development and maintenance of effective systems and processes within the Organisation
• Support the process regular and ad hoc contributions within Imago database and generate and process monthly tax reclaims
• Support the annual allowance statements for relevant clients
• Set reminders for and run regular GAD review calculations
• Ensure accurate initial checking of all applications to confirm in good order
• Support the preparation of SIPP review sheet and drawdown review illustration when requested by Advisers as part of client meeting pack
• Overseeing of checking of processing to ensure accuracy
• Ensure that accurate records, updates and responses to client queries, whether via telephone, email or in writing, are being actioned within the Team
• Liaising with clients and 3rd party companies over the telephone and in writing
• Management of pensioner payrolls, pension increases and ensure the annual notification of the lifetime allowance used is notified to pensioners in a timely manner
• Provide support and technical expertise in delivering ad-hoc client requests
• To recognise potential instances of fraud and money laundering and, where agreed, report these instances to the Money Laundering Reporting Officer
• To monitor proposed changes in legislation with particular relevance to the my clients SIPP
• In conjunction with Head of Compliance CISL, ensure that ongoing regulatory reporting requirements are met
• To conduct regular (quarterly) reviews of SIPP data, identifying issues, implementing remedial activities in consultation with Head of Compliance CISL
• To assist the Compliance Officer in identifying, investigating and rectifying rule breaches relating to the my clients SIPP, and assist in fulfilling any associated reporting requirements
• Ensure that the creation, implementation and development of internal systems, in order to meet regulatory obligations, and to improve and maintain efficient working practices within the Organisation
• Responsible for overseeing the day to day running of my clients Group SIPP, liaising with the Corporate Team where necessary
• Ensure that bulk imports into Imago accurately maintain member records and to process regular and ad hoc contributions for each Group SIPP
• To maintain the procedures manual for the Group SIPP to ensure that they are kept up to date
• To ensure the confidentiality of all work undertaken
• Ensure all procedures are relevant and in line with regulatory requirements
• Ensure all work on the team is checked to a high standard to minimise any errors, which will include the development and maintenance of appropriate checking systems and procedures
• Production of management Information on a monthly, quarterly and annual basis
• Co-ordinate and plan projects for the Team
• Consistently seek ways to improve efficiency across the team and the rest of the business and implement accordingly
• Become the main point of contact for the third party SIPP system provider and maintain regular reviews of outstanding issues which will be monitored and tested through to completion
• Complete 1-2-1 regular meetings and annual appraisals for the Team
• Attend Senior Management meetings

Key accountabilities:

• Willingness to undertake study
• Should have a sound understanding of the operation and application of SIPPs.
• Good working knowledge of the concepts of HMRC rules and practice, and the wider regulatory obligations
• Proactively working towards increasing their technical knowledge of all aspects of the role, identify specific areas of weakness for further development
• Thorough understanding of the internal procedures in operations within the Department and how these interact within the overall organisation
• This is a certification role under the FCA Senior Manager Certification Regime (SMCR), this is a technical role and a relevant qualification such as the CII FA2 - Pensions Administration module is required as part of the Fit & Proper assessment under SMCR
• Should have the ability to process data efficiently and accurately
• Must be able to demonstrate keen attention to detail by thoroughly checking work prior to issue
• Should have the ability to manage own workload and work within a small team.
• Expected to have excellent organizational and IT skills
• Good working knowledge of Intelliflo, Volume and Imago databases, though training is provided where required
• Ability to process manual calculations relating to contribution tax rebates, income tax calculations and other SIPP related computations for cross-checking purposes