Pensions Administration & TPA Oversight Manager; FTC)

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Company wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

This is a 12-month fixed-term contract.

The role requires the ability to effectively collaborate with Risk, Legal, transitions, Finance and PI’s third party administrators to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate.

You will apply your knowledge and insights of the Customer Operations function and understand how this impacts our policyholders.

To deliver strong business outcomes relating to capital, profitability, the Company brand and market reputation whilst achieving positive outcomes to our policyholders, shareholders, and Trustees on a consistent basis.

Our Company values are expected to be reflected in the delivery and performance of every role.

• Lead the Pension Services TPA Team, ensuring effective governance and oversight of Third Party Administration partners (TPA partners), and provide support to the Pension Services Technical Manager as required to ensure effective governance and oversight of Buy In Scheme Trustee Administrators
• Act as line manager for direct reports, including objective setting, performance management, personal development planning, and oversight of productivity and quality outcomes.
• Oversight of TPA partners work pipeline to ensure delivery against agreed KPIs and SLAs, maintaining high quality standards across complex pension processes, regulatory queries, DSARs, pension increases, over payment controls, high value payments, and trustee reporting, identifying training opportunities and process improvements
• Work closely with internal teams (Transitions, Actuarial, Payroll, and Implementations) to ensure robust processes and scheme knowledge are in place ahead of Buy In administration transfers to TPA partners
• Support forecasting and planning activities for new scheme administration transfers to TPA partners in collaboration with the Pension Services Oversight Manager.
• Identify and coordinate delivery of appropriate technical and scheme specific training to ensure team readiness for Buy In Under Admin/ Buy Out transition to TPA partners
• Identify and coordinate general technical support, training and complex query resolution for the Pension Services Oversight team and TPA partners
• Deliver ongoing technical support and complex query resolution our TPA partners, fostering strong and collaborative working relationships.
• Support the Pension Services Technical Manager with internal and external audit activity, and oversee TPA Partners risk incident management, in line with PIC assurance requirements.
• Attend trustee and TPA partners governance meetings as required, fostering excellent relationships and ensuring delivery against agreed governance frameworks
• Partner with the Pension Services Technical Manager to develop team capability, skills, and accountability
• Ensure TPA partners and Trustee Scheme administrators operate in line with PIC Consumer Duty requirements, monitoring and addressing adherence as necessary
• Support the Pension Services Oversight Manager to ensure all TPA Partners provide PIC Policyholders with exceptional customer service, ensuring agreed service standards are met. Where not being met and agree remedial actions
• Provide insights concerning the Customer Operations function and how this impacts our policyholders
• Produce accurate, high quality management information and reporting for senior management.
• Drive continuous improvement by identifying and implementing efficiencies within PIC’s administration model.
• Manage ad hoc projects and work streams as required, ensuring delivery to agreed timescales.
• Liaise with external regulatory bodies, including the Financial Ombudsman Service
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Pension Services Team

• Strong technical knowledge of defined benefit pension schemes
• Established knowledge of pensions…