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- Tasks: Manage BPA payroll and administration, ensuring top-notch service and efficiency.
- Company: Join Canada Life UK, a leading inclusive employer in the LGBTQ+ business community.
- Benefits: Enjoy a competitive salary, generous pension, private medical insurance, and flexible working options.
- Why this job: Be part of a culture that values diversity, personal growth, and making a positive impact.
- Qualifications: Degree level education preferred; experience in bulk annuity market and team management essential.
- Other info: Flexible working arrangements available to support your work-life balance.
The predicted salary is between 36000 - 60000 £ per year.
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This job is with Canada Life UK, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.
Location: Hertfordshire, London or Bristol 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 Purpose
This role is to manage the delivery of all BPA payroll and administration to Trustees and individual policyholders. This includes the oversight, and management of the Third Party Administrator(TPA) of our BPA. This includes management and oversight of payroll and onboarding.
Key Accountabilities
- Responsible for ongoing relationship management and oversight of our TPA for the BPA business. This includes ensuring capability and levels of service are in line with our proposition requirements, budgets and business growth plans. Responsible for the management of the performance of TPA and ensuring alignment to Major Outsourcing policy and standards. Ensuring TPA is operated to budget and process efficiencies are achieved with increasing scale and automation.
- Ownership of the bulk annuity customer experience for a complex and a wide range of customers and Trustees. This includes
- Administration and payroll oversight including managing reconciliation and governance
- Develop and managed Governance Framework for BPA.
- Co-ordination of MI and ensure broader Canada Life teams receive appropriate reporting in a timely fashion. Generate MI and reporting for Bulk Director of Operations to present at Bulk Annuities SLT
- Monthly management of Third Party Administrator relationship through Stewardship reporting including enhanced reporting to take account of an evolving proposition.
- Working with Proposition and Projects Director to implement enhancements to existing and new schemes as appropriate.
- Providing on-going support to Business Development Director to leverage existing relationships to generate additional opportunities.
- Management of existing Trustee client relationships. Will include Trustee \”beauty parades\” and other external client and advisor contact at senior level on an ongoing basis.
- Responsible for managing the onboarding to TPA of new Bulk Annuity Schemes, Data Verification, GMP Equalisation and ensuing this happens within agreed SLAs and overseeing the impact across the broader business.
- Manage a team of administrators to maximise their effectiveness, and continually improve efficiency of BPA operations.
- Ensuring our Bulk Annuity proposition is compliant with all appropriate regulations and in line with relevant Policies and Customer service proposition, performance standards and agreed Service Level Agreements.
- Contribute fully to the Bulk Annuity Leadership Team including presentations at Executive level (as required).
Desired Knowledge / Experience / Skills
- Significant knowledge of, and experience in the UK Bulk Annuity market and operations, gained at a senior level
- Deep knowledge and experience of defined benefit administration
- Extensive experience of managing a team and resource planning is essential
- Analysing and reasoning skills, to reach sound and defensible conclusions / recommendations based on data but being pragmatic as situation and needs dictate.
- Strong communicator with the ability to communicate complex technical and pricing concepts to a variety of stakeholder to enable delivery of desired objectives
- Able to build excellent relationships with people at all levels.
- Understanding and ability to implement/maintain an actuarial control framework.
- Very credible individual who provides assurance to leaders across CLUK and Global on service and outsource governance. Clear understanding of the market and outsource management risks and obligations
Qualifications
- Educated to degree level (desirable).
- Actuarial or Pensions administration qualifications.
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 into things 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 for it to be a significant focus.
\”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.\” Nick Harding, Chief People Officer, Canada Life UK
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.
Seniority level
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Project Management and Information Technology
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Admin Manager - BPA employer: myGwork - LGBTQ+ Business Community
Contact Detail:
myGwork - LGBTQ+ Business Community Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Admin Manager - BPA
✨Tip Number 1
Familiarise yourself with the UK Bulk Annuity market. Understanding the nuances of this sector will not only help you in interviews but also demonstrate your commitment and knowledge about the role.
✨Tip Number 2
Network with professionals in the pensions administration field. Engaging with others in the industry can provide valuable insights and potentially lead to referrals, which can significantly boost your chances of landing the job.
✨Tip Number 3
Prepare to discuss your experience in managing teams and resources effectively. Highlighting specific examples of how you've improved efficiency or resolved conflicts will showcase your leadership skills, which are crucial for this role.
✨Tip Number 4
Research Canada Life UK's culture and values. Being able to articulate how your personal values align with theirs during the interview can set you apart as a candidate who is not only qualified but also a good cultural fit.
We think you need these skills to ace Admin Manager - BPA
Some tips for your application 🫡
Understand the Role: Before applying, make sure you thoroughly understand the responsibilities and requirements of the Admin Manager - BPA position. Tailor your application to highlight relevant experience in managing payroll and administration.
Highlight Relevant Experience: In your CV and cover letter, emphasise your significant knowledge of the UK Bulk Annuity market and any experience you have in defined benefit administration. Use specific examples to demonstrate your expertise.
Showcase Communication Skills: Since the role requires strong communication skills, provide examples of how you've effectively communicated complex concepts to various stakeholders in your previous roles. This will show that you can build relationships at all levels.
Tailor Your Application: Make sure to customise your CV and cover letter for this specific role at Canada Life UK. Mention their commitment to diversity and inclusion, and express how your values align with theirs, particularly in relation to supporting the LGBTQ+ community.
How to prepare for a job interview at myGwork - LGBTQ+ Business Community
✨Understand the Role Thoroughly
Before the interview, make sure you have a solid grasp of the Admin Manager - BPA role. Familiarise yourself with the responsibilities, especially around managing relationships with Third Party Administrators and overseeing payroll processes. This will help you answer questions confidently and demonstrate your suitability for the position.
✨Showcase Your Team Management Skills
Since this role involves managing a team of administrators, be prepared to discuss your experience in team management. Share specific examples of how you've maximised team effectiveness and improved operational efficiency in previous roles. This will highlight your leadership capabilities.
✨Prepare for Technical Questions
Expect questions related to defined benefit administration and the UK Bulk Annuity market. Brush up on relevant regulations and governance frameworks. Being able to discuss these topics in detail will show that you are knowledgeable and ready to tackle the challenges of the role.
✨Demonstrate Your Communication Skills
As a key part of the role involves liaising with various stakeholders, practice articulating complex concepts clearly and concisely. Prepare to explain how you would communicate technical information to non-technical audiences, as this will be crucial in building relationships with clients and trustees.
