Scheme Transition Consultant

CLFIS Limited; Bristol; On-site; GBP 60,000 - 80,000; Full time

Benefits offered by this job

Generous pension

Bonus scheme

Private medical insurance

Income protection

Life assurance

Job summary

Canada Life UK is seeking an experienced project manager to lead the transition of bulk annuity cases through the end-to-end process. You will oversee client transitions, data migration, asset transfers and coordination with Trustees to ensure a smooth, compliant experience for all parties involved.

The role requires deep DB pensions knowledge, strong governance, and ability to manage complex projects with multiple stakeholders.

Qualifications

• Strong knowledge of DB pensions and experience with DB pensions administration.
• Experience managing projects or implementations.
• Understanding of pension scheme administration requirements and systems.
• Understanding of de-risking administration and how it differs from standard pensions.
• Strong numeracy and analytical skills.
• Ability to work under pressure and meet deadlines.

Responsibilities

• Project manage transitions from exclusive appointment, ensuring timely completion and client expectations.
• Be main contact for portfolio of new client installs and transition meetings.
• Oversee asset transfer, data migration and end-to-end planning for new business.
• Ensure delivery promises and performance standards are met.
• Communicate operational tasks and non-standard processes with clients.
• Coordinate data queries and final data schedule with Canada Life and client.

Skills

Project management

Stakeholder management

Data migration

Regulatory checks

Data cleansing

Pensions knowledge

Analytical skills

Attention to detail

Collaboration

Tools

Aptia

Job description

Location: Bristol, Watford or London 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

Project management of our existing portfolio and onboarding of new bulk annuity business through the end-to-end process, ensuring 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. Effective and complete stakeholder management through the transition process, ensuring the final premium is completed, communicated and settled, and that 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.
   • Be the main contact for your own portfolio of new client installs, attending transition calls/meetings with the client and as required by the ceding third‑party administrator.
   • Oversee the transfer of assets for new clients, involving end-to-end planning of the asset transition and data migration for new business.
   • Ensure all delivery promises and performance standards are achieved.
   • 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.
   • 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.
   • Be a point of reference on technical issues and administration-related queries.
   • Work with your team and the business to create a positive working environment.
   • Provide an efficient, professional service to meet all client/members' needs and promote the Canada Life brand.
2. Ensure all procedures and client controls are established and documented during transition.
   • Maintain within risk appetite and provide appropriate reporting for RCSA and CORC reporting as required.
   • Challenge procedures to identify and drive process improvements.
   • Complete all regulatory checks and reviews associated with new transactions, recording the activity to ensure robust audit trail.
3. Act as lead on data cleanse process for assigned projects, agreeing project plans with internal and external stakeholders and updating as required if any key deliverables change or are delayed.
   • Drive through data cleanse processes to a satisfactory conclusion, ensuring key deliverables are completed in line with agreed timescales and coordinating completion of all activities until handover to Finance and Actuarial Teams.
4. Provision of technical information both verbally and in writing. Calculation of scheme benefits in accordance with the scheme rules and benefit specifications.
5. Maintain up-to-date knowledge of the Bulk Annuity proposition and processes along with any changes to pensions and de‑risking legislation and market developments.
   • Ensure team across Aptia and Canada Life are operationally ready to deliver the desired customer outcomes as the market and our proposition develops.

Experience Required

• Strong knowledge of DB pensions and previous experience in dealing with DB pensions administration in particular deferred liabilities.
• Experience of working on projects or implementations.
• An understanding of DB pensions, pension scheme administration requirements and systems.
• An understanding of DB de‑risking administration requirements and how they differ from standard pensions administration.
• Strong numeracy and analytical skills.
• Ability to grasp complex financial/actuarial concepts and methodologies.
• Able to organise work under pressure and to tight deadlines.
• Good knowledge of all products, processes and procedures within team.
• Able to assist between all teams as demand requires.
• 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. We have a fantastic number of other benefits and support services as well as regular personal and professional development.

How we work at Canada Life

Our culture is unique and incredibly important to us. We care about doing the right thing for our people, customers and community and helping others to build better futures. Our blueprint behaviours shape and influence how we work, and are central to the relationships we have with others. Every day we are encouraged to be more curious, own the outcome, face challenges together and find a way forward.

We want colleagues to have rewarding careers with us so we invest in the development of our people, technology and workplaces. That's why we offer a range of training, flexible working and opportunities to grow and develop.

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 are proud of the progress we're making in DEI, and we continue to focus on it.

At Canada Life we believe in the power of great people from different backgrounds, experiences and perspectives coming together to build better futures. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all.

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.