Supervisor - Pensions Administration

ICBL is Barbados’ largest general insurance provider, writing business in all areas of general insurance including, Property, Liability, Accident, Motor, Marine, Aviation and Transit Insurance. ICBL also offers insurance coverage for Individual and Group Life, Individual and Group Health, Annuities, Individual and Group Pensions.

Applications are invited from suitably qualified persons to fill the position of Supervisor – Pensions Administration in the Asset Management Business Unit. The position is at the level of Grade 4 in the Company’s compensation structure and will report to the Investment Manager.

Major Areas of Responsibility:

• Prepares and submits reports in good time for meetings of the Trustees of the ICBL’s Defined Benefit and Defined Contribution Pension plans in which he/she will participate.
• Ensures new business and retention targets for the pension line of business are met.
• Prepares monthly and quarterly reports for the Investment Manager.
• Maintains and updates pension and benefits processes and procedures where necessary.
• Supervises the work of the Pensions Administrator and assists with meeting critical deadlines e.g. the punctual payment of pensions to ICBL pensioners.
• Liaises with internal Business Units and the external Actuary to ensure the relevant documents and fees are submitted to the Financial Services Commission (FSC) in a prompt and timely manner.
• Provides recordkeeper duties for ICBL’s Defined Benefit and Defined Contribution Pension plans.
• Prepares data for the IAS19 Reports and Triennial Valuations.
• Liaises between ICBL and key stakeholders e.g. regulatory bodies, Actuaries and clients.
• Follow up with pension clients to encourage their compliance with regulations.
• Meets periodically with pension clients to discuss the performance of their portfolios as well as changes in legislation or investment strategy that would affect pension plans.
• Performs other related duties assigned and necessary for the development of the Insurance Corporation of Barbados Limited.

Qualifications, Experience and Skills

• A Bachelor’s Degree in Accounting, Economics or Finance.

• A minimum of five years’ experience in the pension business.

• Two (2) years at Supervisory level and/or a qualification in Supervisory Management.

• Sound knowledge of the responsibilities of the Pension Administrator as described in the Occupational Pension Benefits Act (OPBA).

• Strong problem solving and analytical skills.

• Excellent customer service and communication skills that demonstrate professionalism.

• Excellent interpersonal and organizational skills with the ability to multi-task and work autonomously.

• Ability to work under pressure and adhere to strict deadlines.

• Proficient in Microsoft Office Suite, especially Microsoft Excel.

Compensation

A competitive remuneration package will be offered in accordance with qualifications and experience.

Deadline Date for Applications

Thursday, October 24, 2024