Team Lead, Retiree Benefits - SIPML in Lagos, Nigeria

at Stanbic IBTC Bank

Banking / Financial Services
Minimum Qualification
Bachelor's Degree
Required Experience
1 - 3 years
Employment Type
Full Time
Male or Female

Job Description

Main Purpose of the Job
The Team Lead – Retiree Benefits is responsible for the general supervision and monitoring of payment to retirees, follow up on clients with outstanding documents/requirements for payment and rendering of periodic reports on the activities of the unit.

Key Responsibilities
The Team Lead – Retiree Benefits must ensure the following:
• Act as a 2nd level check in the approval process of benefits applications.
• Timely and Accurate payments to clients based on approvals received from PenCom.
• Timely Processing of payments on AES Funds based on instructions received from Fund Sponsors in accordance with the Funds’ operational documents.
• Effective management of the Programmed Withdrawal payroll for relevant Retiree Funds.
• Review of the Excess Remittance Fund, Death Benefits and Retiree Fund Accounts to ensure clients eligible for payments are contacted and advised to apply and appropriate resolution.
• Effective management and follow up for clients whose payments could not be processed due to issues(ABU).
• Effective management and follow up for clients whose payments were returned by their banks(NEFT).
• Prompt and appropriate responses to email requests from stakeholders with respect to update / information / documentation required for treatment of client’s requests.
• Conducting Annual Annuitant Verification for applicable Retiree Funds.
• Preparation of Prompt and accurate Administrative Fees Invoices for applicable funds.
• Preparation of Statutory Reports as required by the Commission and Fund Sponsors on a monthly basis and based on requests.
• Preparation of Management reports relating to BMU for the Operations Monthly performance Review and Monthly KRI.
• Performing all other duties as may be required from time to time to ensure effective transaction processing.

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