Job Title: Pension Administrator
Hiring Organization: Jubilee
Insurance
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Insurance
Job Type: Full
Time
Salary: KES
Competitive
Date Posted: 11/03/2023
Job Ref. No. JLIL177
Role Purpose
The role
holder will be responsible for ensuring accurate and timely processing of
policy premiums, policy changes, and related financial transactions. The role
holder plays a critical role in managing premium administration processes,
ensuring compliance with company policies and regulatory requirements, and
providing excellent customer service to policyholders.
Main
Responsibilities Operational
Premium
Processing: Receive and process policy premiums, ensuring accuracy and
completeness of information, and adherence to established procedures and
guidelines.
Policy
Reconciliation: Reconcile premium transactions and financial records to ensure
accurate accounting and resolve any discrepancies in a timely manner.
Ensure
that contribution/transfers/premium collection is done efficiently and within
the agreed deadlines.
Liaise
with the New business team, checkoffs and pension administrators to ensure
correct payment schedules are received and updated in time.
Ensure
accurate and timely allocation and approval of contributions/transfers/premium
received.
Timely
communication and follow up with clients, agents on contribution/premium
arrears.
Ensure
GWP/contribution collection targets are met.
Liaise
with Treasury, other business lines, agents/clients to clear any outstanding
payments in the assigned bank accounts.
Ensure
new DDA Mandates are launched to the various banks within the TAT of 3 days and
that the databases for the same is accurate and always updated.
Regularly
run reports on efficiency of various modes of payments and provide daily
activity and other reports as required by Management.
Respond
to all customer queries or inquiries within the TAT of 48 hrs.
Process
Improvement: Identify opportunities for process improvement and efficiency
enhancement within premium administration processes. Collaborate with relevant
stakeholders to implement changes and streamline operations. Improve manual
processes through automation and comply with the internal controls in place.
Any other
duty as may be assigned by your line manager or head of department.
Corporate
Governance
Compliance:
Stay updated with insurance regulations and underwriting best practices to
ensure compliance with industry standards
Adherence
to the laws and regulations of Kenya, the policies and regulations within the
insurance industry and all internal company policies and procedures.
Ensuring
compliance with applicable statutory and regulatory requirements and
establishing mitigation measures against emerging business risks.
Culture
Fostering
a corporate culture that promotes ethical practices and good corporate
citizenship while maintaining a conducive work environment.
Collaborate
with cross-functional teams to develop initiatives that promote a positive and
inclusive company culture.
Individualized
Development Planning: Create personalized development plans that align with
your career aspirations and the organization’s objectives.
Key
Competencies
Attention
to Detail: Ability to work with precision and accuracy, ensuring thoroughness
in premium processing and data entry.
Analytical
Thinking: Strong analytical skills to review premium-related data, identify
discrepancies, and resolve issues.
Customer
Focus: Commitment to providing exceptional customer service, understanding
customer needs, and delivering timely and accurate solutions.
Communication:
Effective verbal and written communication skills to interact with internal and
external
Problem-Solving:
Ability to identify and resolve premium-related issues, exercise good judgment,
and make sound decisions within established guidelines.
Time
Management: Excellent organizational skills to manage multiple tasks,
prioritize workload, and meet deadlines.
Qualifications
Bachelor’s
degree in insurance, Finance, Business or any other related course
Proficient
in the use of Microsoft office suite/packages and project management tools
& methodologies.
Relevant
Experience
Minimum 6
months – 1 year experience in a similar role.
How To
Apply
If you
are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting
the Job Reference Number and Position by 5th
November 2023.
Only shortlisted candidates will be contacted.
