Employee Benefits Administrator

Sygnia Limited; Cape Town; On-site; ZAR 320,000 - 520,000; Full time

Job summary

Sygnia Limited in Cape Town seeks a Retirement Fund Administrator to join our Employee Benefits Administration team. You will handle monthly contributions, data reconciliation, and benefit statements, ensuring timely and accurate processing.

Required: at least 3 years in employee benefits, exposure to umbrella or standalone retirement fund administration, and familiarity with Everest. Strong numeracy, attention to detail, and good communication are essential.

Qualifications

• Diploma or Degree advantageous.
• Minimum of 3 years’ experience in Employee Benefits.
• Experience with umbrella fund administration and/or standalone retirement fund administration.
• Working knowledge of Everest (administration system) advantageous.

Responsibilities

• Follow up of monthly contributions and reconciliation.
• Manage data received from clients and execute investments within deadlines.
• Prepare and review annual benefit statements for clients.
• Respond to employer and member queries professionally.
• Coordinate with trustees, consultants and fund accountants as needed.
• Assist with ad hoc tasks for audit and reporting requirements.

Skills

Attention to detail

Numeracy

Analytical thinking

Communication skills

Proactivity

Organisational skills

Education

Diploma or Degree advantageous

Tools

Everest

Job description

ROLE DESCRIPTION:

Sygnia is the fastest-growing multi-management company in South Africa. Join this dynamic company by becoming a part of their Employee Benefits Administration team as a Retirement Fund Administrator.

DUTIES AND DAILY RESPONSIBILITIES:

• Following up of monthly contributions
• Managing data received from clients
• Reconciliation, allocation and investment of monthly contributions within the required turnaround times
• Reporting non-compliance with section 13A as well as issue invoices and follow up payment of late payment interest
• Reconciliation and deduction of risk premiums and fund expenses
• Monitor the bank account for the receipt of individual transfers and/or follow up with the transferor fund if not received within a reasonable timeframe
• Reconciliation, allocation and investment of section 14 and individual transfers received from or paid to other retirement funds when required
• Disinvestment and payment of all types of claims within the required turnaround times (e.g. divorce, death, retirement, etc)
• Checking documentation received for benefits is complete and accurate and following up on outstanding documentation
• Liaising with insurers on risk claims (e.g. disability, funeral, death, etc)
• Applications for tax directives to SARS
• Review of administration reports for trustees and or management committees
• Assisting the fund accounting team with their preparation of relevant schedules for audit purposes
• Generate and check the annual benefit statements for accuracy prior to distribution to clients
• Investigating and responding to employer and member queries in a professional manner
• Investigating and responding to queries from the accounting, consulting and other relevant team members
• Working closely with all relevant parties, e.g. internal and external consultants, participating employers, trustees, principal officers, fund accountants, etc
• Assisting with other ad hoc tasks that may arise from time to time

ROLE QUALIFICATIONS AND EXPERIENCE:

• Diploma/Degree Advantageous
• Minimum of 3 years’ experience in Employee Benefits
• Previous experience with umbrella fund administration and/or standalone retirement fund administration
• Working knowledge and experience of Everest (administration system) advantageous

COMPETENCIES REQUIRED:

• Strong attention to detail
• High level of numeracy and accuracy
• Good analytical/ problem-solving skills
• Good inter-personal skills
• Good communication skills, both written and verbal
• Proactive individual, who is willing take responsibility and accountability for allocated tasks
• Excellent organisational skills
• Ability to multi-task
• Ability to work under pressure
• Solid knowledge of the retirement fund industry and legislation