Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa in 1937. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, general and Medical insurance.

Job Ref. No: JLIL195

Role Purpose

The role holder is responsible for managing a team that ensures the conservation of existing business and delivers superior services to retirement benefits business clients. This role focuses on maintaining full compliance with established procedures and guidelines as outlined in the operations manuals.

Main duties and responsibilities:

Strategy

• With the guidance of the Head of Department, oversee the implementation of strategies to conserve existing business within the retirement benefits segment.
• Identify opportunities for business growth, market expansion, and product/service enhancements in the pension administration segment. Monitor key performance indicators and metrics to assess business performance and identify areas for improvement.
• Conduct market research and analysis to identify emerging trends, competitive landscape, and customer needs, influencing strategic decision-making.
• Conduct financial analysis, identify cost-saving opportunities, and recommend strategies to improve profitability and operational efficiency. Work with internal teams to implement system enhancements and automation.

Operational

• Business Growth: Manage the conservation of existing business and offering alternative products to existing clients e.g., annuity, cross sell and following up/providing leads for new business.
• Manage the administration of retirement benefits plans for corporate clients.
• Ensure accurate record-keeping of participant data, contributions, and benefit calculations.
• Ensure superior service delivery, addressing client inquiries, concerns, and requests promptly and effectively.
• Monitor client satisfaction levels and implement measures to enhance client experience.
• Maintain up-to-date records and handle all necessary documentation.
• Provide exceptional customer service to retirement benefits business clients.
• Address inquiries and resolve issues related to retirement plans promptly.
• Assist clients with plan updates, changes, and participant communications.
• Educate clients on plan features, compliance requirements, and industry best practices.
• Streamline administrative processes to minimize errors and maximize productivity.
• Statistical Analysis & Returns: Preparing summary/ statistical reports of the Retirement Benefits schemes.
• Also preparing returns in respect of the Retirement Benefits schemes as assigned for submission within the timelines provided. Monitor key performance indicators and implement measures to achieve targets.
• Generate reports and provide timely and accurate information to clients.
• Collaborate with internal stakeholders to meet reporting obligations.

Compliance

• Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
• Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
• Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
• 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.

Leadership and People

• Building the team capabilities and ensuring adequate succession planning within the department
• 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.
• Conduct regular performance evaluations, set goals, and provide constructive feedback to team members.

Requirements

Key Competencies

• Attention to detail and accuracy in retirement plan administration.
• Strong customer service and relationship management skills.
• Knowledge of retirement benefits regulations and compliance requirements.
• Analytical and problem-solving abilities to resolve complex issues.
• Excellent organizational and time management skills.
• Strong communication and interpersonal skills.

Qualifications

• Bachelor’s degree in Insurance, Finance, Business or any other related course
• Diploma in Insurance
• TDPK,LOMA/CII/IIK Qualification

Relevant Experience

• Minimum 4-6 years’ experience in a similar role
• In-depth understanding of retirement benefits plans and their administration.
• Proficiency in retirement plan enrollment, contributions, and benefit calculations.
• In depth knowledge of regulatory requirements and compliance standards in the pension industry.
• Familiarity with retirement plan record-keeping systems and software.
• Strong data analysis and reporting skills