Our client, Kenya Ports Authority Pension Scheme (KPAPS) is a DC/DB Pension Scheme that provides retirement benefits to employees of the Kenya Ports Authority. The Scheme wishes to recruit a transformational individual to occupy the position of Pension Scheme Administrator.
The position is responsible for ensuring the Scheme complies with the relevant legislation and the Terms of Authorization issued by RBA through establishing procedures of sound governance for the Scheme and advising the Board of Trustees on developments in governance issues and scheme performance within the strategic plan. The position is will oversee all the day to day operations of the Scheme.
- Ensures that the Scheme is run and managed in accordance with the Law and the Trust Deed rules and regulations by abiding by the current regulations and organizational policies and procedures designed and implemented to promote a cohesive work environment.
- Provides leadership and direction to all departments by setting high-level goals with departmental heads, performance oriented objectives and working together on attaining such goals by closely monitoring the operations and ensure adherence to established code of conduct.
- Provides guidance, leadership, and direction to the Management Team in order to facilitate the achievement of the Scheme’s Vision, Mission and Values.
- Initiates, co-ordinates and participates in the conceptualization and development of the Scheme strategic plans and objectives and facilitate the implementation and monitoring of the same in liaison with the Board of Trustees.
- Establishes and maintain an effective system of communications throughout the Scheme to ensure that the responsibilities, authorities, and accountabilities of the entire workforce are clearly defined and understood.
- Ensures the formulation and implementation of the customer service delivery strategies for the Scheme as well as keeping abreast of industry developments on pension through market and business research.
- Ensures that the annual report, accounts and other financial statements of the Scheme are prepared within the required time limits. Ensure that the fund managers, property managers and custodians are acting in the best interest of the Fund.
- Oversees the planning for the Scheme and ensure that work plans and the budget are implemented within the Strategic Plan of the Scheme.
- Liaises with the Trustees, the Regulator RBA, KRA and the Scheme service providers in the course of administration of the Scheme.
- Ensures proper books of accounts, prepares management accounts and budget forecast, cash flow planning and financial report for deliberation by the Board of Trustees.
- Ensures effective maintenance of records of the Scheme, which include up to date individual membership records of serving employees, retired members and the rate of their basic pensions, actuarial records, assets of the Scheme and income tax reports.
- Advices trustees abreast of all legal, regulatory and advisory developments affecting pension Schemes and general investment.
- Avails the required data of the Scheme to the service providers to enable preparation of statutory returns to the Authority as well as submission of the required statutory returns to the Retirement Benefits Authority
- Liaises with regulators – including Commissioner of Income Tax and Retirement Benefits Authority- on all laws or regulations that may affect the Scheme.
- Receives investments from fund managers, property managers and custodian as well as liaise with the service providers to ensure efficient performance; report on performance to the Board of Trustees
- Establishes and maintain an efficient system of internal controls for income and expenditure of the Scheme to ensure benefits are paid to members in a timely manner and ensure the assets of the Scheme are properly and efficiently managed
- Confirms payments of benefits are done in accordance with Trust Deed rules and regulations and further ensures that the payment made to eligible members is computed correctly.
A Master’s degree in Business Administration, Finance, Commerce, Accounting, Actuarial Science or a related field;
A Bachelor’s degree in Business Administration, Finance, Commerce, Accounting, Actuarial Science or a related field;
Must have completed the Pension Management course offered by RBA
The candidate must have at least ten (10) years' experience, five (5) of which should be in a management role in the Pensions field.
- Strong leadership and skills to foster teamwork; develop and motivate staff, resolve conflicts as well as ability to provide direction, guidance, momentum and vision in order to achieve organizational objectives;
- Strong expertise in strategic management, project planning and budgeting, resource management, implementation as well as monitoring and evaluation;
- Ability to empower staff by removing obstacles hindering the achievement of strategic objectives, focusing on results and delivering what is promised, on time and within budget;
- Ability to maintain high standards of integrity; establish straightforward, productive relationships; treating individuals with fairness and respect, demonstrating sensitivity for ethnic, cultural and gender differences;
- Ability to initiate and implement planned organizational change, adapt to rapidly changing conditions as well as align programmes in the appropriate direction with cohesiveness and a sense of urgency
All candidates must ensure that their CVs contain working telephone numbers and email addresses, and a list of at least three (3) referees with their current contacts; and attach certificates proving compliance with Chapter 6 of the Constitution of Kenya.