This Portfolio Administration Assistant role is central to ensuring the compliance and accurate record-keeping of all assigned retirement schemes. The Officer is responsible for adhering to relevant regulatory frameworks and maintaining proper member records. The role holder also ensures that members are advised on their retirement benefit options at the point of withdrawal and computes and processes the benefits of the members.
Roles and Responsibilities
- Ensuring that administration agreements for all schemes are filed with the regulator and copies are on respective files.
- Ensuring compliance with the Trust Deed & Rules, regulatory requirements as laid down by regulatory bodies including Retirement Benefits Authority (RBA), Kenya Revenue Authority (Income Tax), Capital Markets Authority (CMA) and self-regulating bodies such as Association of Retirement Benefits Schemes (ARBS).
- Coordinating with the client and scheme service providers (custodians, fund managers, actuary and auditors) to ensure smooth and timely processing of tasks.
- Keeping and updating records of all members.
- Validating and processing contributions from the sponsor.
- Ensuring that statements to members and trustees are done and dispatched promptly as laid down in the trustee work calendar.
- Ensuring that computations of members’ withdrawal benefits are done correctly.
- Ensuring that enquiries from intermediaries and clients are addressed fully and promptly.
- Maintaining an updated register of all clients; fees invoices to all clients to be regularly sent based on the agreed charging method.
- Tracking schemes with outstanding contribution on a month-to-month basis.
- Accounting for un-remitted contributions and informing the RBA of the same quarterly.
- Calculating Individual transfer and total surrender values of scheme winding up.
- Liaising with auditors of various schemes for smooth audit.
- May be required to attend trustee meetings on administration issues.
- Developing systems to cope with various needs of the unit.
- Constantly review and recommend systems and processes enhancements / development.
- Regularly ensure that no mail remains unattended for more than 14 days.
- Assisting in preparation of work position report for the monthly meetings.
- Executing any other duties, which may be assigned from time to time.
Requirements
Qualifications and Experience:
- Bachelor Degree in Commerce, Mathematics, Statistics or related discipline from a reputable university.
- Professional qualification(s) in Finance e.g. CPA (K), ACCA or equivalent is considered added advantage.
- Knowledge and understanding in retirement benefits/schemes administration.
- At least 1 year Experience in the field.
Skills and Competencies:
- Excellent communication and presentation skills, including ability to develop proposals, concept papers, position papers as well as write reports and prepare relevant publications.
- High level interpersonal and cross-cultural skills, including ability to build alliances and collaborative relationships with sensitivity to diversity.
- Must be a self-starter, highly organized, and able to work well with people at all levels in the organization.
- Project management skills.
- Strong persuasion and negotiation skills.
- Strong business acumen / business orientation.
- Good customer relationship management skills (internal and external customers).
