Team Lead, Retiree Benefits - SIPML at Stanbic IBTC

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.