Bulk Annuity Transition Lead in Bristol

Location: Bristol, Watford or London Office

Job Summary

The role provides 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 is a specialist for defined benefit pension administration and bulk annuity business, with an in-depth understanding of the entire bulk annuity process and the external market. Ensure effective and complete stakeholder management through the transition process until the final premium is completed, communicated and settled, ensuring Trustees have the best customer experience at all times.

Responsibilities

• 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.
• Serve as the main contact for your own portfolio of new client installs, attending beauty parade, regular 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 that 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 the 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 the finalised data schedule is agreed to a satisfactory level for handover to operational teams.
• Be a point of reference on technical issues and administrative 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.
• Ensure that 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 a robust audit trail.
• Act as lead on data cleanse process for assigned projects, agreeing project plans with internal and external stakeholders and updating as required if 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.
• Provision of technical information both verbally and in writing.
• 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 the team across Aptia and Canada Life is 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, particularly deferred liabilities.
• Experience of working on projects or implementations.
• Understanding of DB pensions, pension scheme administration requirements and systems.
• 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 meet tight deadlines.
• Good knowledge of all products, processes and procedures within the team.
• Able to assist between all teams as demand requires.
• Able to develop good working relationships within the team and with internal and external customers.

Benefits

We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that is regularly reviewed. As a Canada Life UK colleague, you will receive a competitive salary and a comprehensive reward package including a generous pension and bonus scheme, along with income protection, private medical insurance and life assurance. We also offer other benefits and support services as well as regular personal and professional development.