Technical Pension Onboarding Specialist

Pension Insurance Corporation plc; Greater London; On-site; GBP 65,000 - 90,000; Full time

Benefits offered by this job

Private medical insurance

Generous pension scheme

Annual bonus plan

28 days annual leave

Job summary

Pension Insurance Corporation plc is seeking a Pension Onboarding Specialist to support the onboarding of defined benefit pension schemes into our operating model. You will ensure benefits are understood, data is fit for purpose, and onboarding runs are fully tested with payroll and increases as part of a controlled rollout.

You will collaborate with external administrators and internal actuaries to resolve data issues, prepare management information, and drive improvements across our

Qualifications

• DB pension knowledge and onboarding experience

Responsibilities

• Support onboarding of new schemes into the PIC model
• Collaborate with third-party administrators to secure buy-in
• Lead data reconciliation and data verification activities
• Prepare MI for internal stakeholders and senior management
• Ensure readiness for go-live including testing and documentation
• Identify and implement improvements to PIC's administration model
• Maintain alignment with Pension Corporation's regulatory guidelines

Skills

Persuasion & influence

Work organisation

Stakeholder collaboration

MS PowerPoint

MS Word

MS Excel (intermediate)

Education

APMI or Working towards

Tools

MS PowerPoint

MS Word

Excel

Job description

We are seeking an experienced pensions technical specialist to support the accurate onboarding of newly secured schemes into the PIC operating model. This is a deeply technical role focused on defined benefit (final salary) pensions, ensuring the benefits payable to our policyholders are fully understood, correctly specified, and reliably delivered.

Role purpose

• The role requires the ability to effectively collaborate with third-party administrators to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate
• To apply knowledge and insights concerning the implementation of new clients with PIC and 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 on a consistent basis
• Our Company values are expected to be reflected in the delivery and performance of every role

Specific accountabilities assigned to the role of Pension Onboarding Specialist within Customer Operations

• Support the Head of Pension Operations in always providing a high level of service to clients and policyholders
• Collaborate with PIC transition manager to deliver successful onboarding for PIC and Scheme Trustees
• Take a lead role in on-boarding new schemes into the PIC operating model ensuring all scheme benefits are fully understood and specified, that incoming data is fit for purpose for both administration and actuarial valuation, and ensuring parallel payroll and pension increase runs have been fully tested and signed off
• Complete detailed analysis to make sure data is fit for purpose and satisfies all PIC requirements by taking a lead role in data reconciliation and data verification work, and shadowing payroll and pension increase testing
• Collaborate with Outsourced Admin Team and Customer Experience Team to ensure operational readiness for delivery of successful onboarding for PIC and Scheme Trustees, including calculation automation, website release, communications and ensuring all process and documentation requirements and ready for go live
• Collaborate with PIC internal actuaries to make sure valuation data requirements are fully understood and documented, including resolving data issues as required to achieve this
• Lead calls/meetings with outsourced administrator to achieve desired timeframes and outcomes
• Prepare MI for PIC internal stakeholders and Senior Management
• Identify and implement improvements/efficiencies in PIC's administration model
• Ensure that the projects being completed meet agreed milestones and deliverables, whilst also meeting expected standard in quality
• Complete internal projects relating to new business onboarding into the PIC model
• Understand and work within Pension Corporation's Guideline on Consumer Duty
• Intellectually curious with a willingness to learn through own research
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function
• Effective communicator - structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies
• Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance

Conduct Rules

• You must act with integrity
• You must act with due skill, care and diligence
• You must be open and cooperative with the FCA, the PRA and other regulators
• You must pay due regard to the interests of customers and treat them fairly
• You must observe proper standards of market conduct
• You must act to deliver good outcomes for retail customers

PIC operates within the financial services industry and, therefore, is regulated by the FCA (Financial Conduct Authority) and the PRA (Prudential Regulation Authority). It is a requirement for all PIC employees to demonstrate a good understanding of the regulatory framework and how it applies to the Company.

Requirements

Knowledge

• Good technical knowledge of defined benefit pension schemes
• Familiar with project management techniques
• Familiar with pension buy-ins & buy-outs and transitions process
• Working GMP Equalisation knowledge desirable

Skills

• Ability to persuade and influence both directly and indirectly
• Ability to organize work to meet deadlines
• Ability to work within defined procedures as recommended by functional teams
• Effective collaboration with key stakeholders
• Good working knowledge of MS PowerPoint, MS Word
• Good level of Microsoft Excel competency (intermediate) with a keen desire to develop existing knowledge

Experience

• High level of DB pension experience
• Experience in DB pension scheme onboarding
• APMI or willing to work towards achieving it
• Experience working with bulk scheme data and large data sets

DE&I at PIC

At PIC, we believe that true innovation stems from embracing diverse perspectives, backgrounds and experiences. We are committed to building a workplace where every individual, regardless of race, gender identity, sexual orientation, disability, age, religion, or socio-economic background, feels valued, heard and empowered to succeed. We hold ourselves accountable through ongoing initiatives, such as inclusive hiring practices, and equitable career development opportunities that support belonging and community. While we're proud of our progress, we recognise there's work ahead, and we remain dedicated to listening, learning and evolving together.

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you'll have access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme, insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection, and much more.