Team Leader- Pension Claims at Jubilee Insurance

Job Ref. No: JLIL 243

Role Purpose

The role holder will be responsible for managing and overseeing the processing of pension claims, ensuring timely and accurate settlement, and maintaining compliance with regulatory requirements. The role holder will lead a team of claims officers, develop and implement strategies to improve claims processing efficiency and foster a culture of excellence and compliance.

Main Responsibilities

Strategy

• Claims Processing Strategy. Develop and implement strategies to streamline and enhance the pension claims process. Set performance targets for the pension claims team and monitor progress. Identify opportunities for process improvements and implement best practices.
• Automation and Process Re-engineering. Leverage technology to automate routine processes and optimize workflows. Identify areas for automation and process re-engineering to reduce manual intervention and increase efficiency.
• Stakeholder Engagement. Engage with key stakeholders, including pension fund administrators and regulators, to ensure alignment with industry standards and regulations. Develop and maintain strong relationships with external partners to facilitate smooth claims processing.
• Risk Management. Identify potential risks in the pension claims process and develop mitigation strategies. Ensure the pension claims processing strategy aligns with the overall business objectives and risk management policies.

Operational

• Claims Management. Oversee the daily operations of the pension claims team, ensuring timely and accurate processing of claims. Review and approve high-value and complex claims.
• Ensure compliance with internal policies and regulatory requirements.
• Customer Service. Ensure a high level of customer service is maintained throughout the pension claims process.
• Address and resolve escalated customer complaints and issues promptly.
• Reporting and Analysis. Prepare regular reports on pension claims processing performance, highlighting key metrics and trends. Analyze the pension claims data to identify patterns and areas for improvement.

Corporate Governance

• Compliance. Ensure adherence to all regulatory requirements, industry standards and the company’s policies in the administration of premiums. Implement and maintain robust internal controls to mitigate risks and ensure compliance with relevant laws and regulations.
• Ensure all claims processing activities comply with relevant laws and regulations. Stay updated on changes in pension and insurance regulations and adjust processes accordingly.
• Internal Controls. Develop and implement robust internal controls to prevent fraud and ensure the integrity of claims processing. Conduct regular audits and reviews to ensure compliance with internal controls and policies.
• Policy Development. Develop and update pension claims processing policies and procedures to ensure they are current and effective. Ensure policies are communicated and adhered to by the claims team.

Leadership & Culture

• Team Leadership. Lead, mentor, and develop a team of claims officers, providing guidance and support. Conduct regular performance evaluations and provide constructive feedback.
• Culture of Excellence. Promote a culture of excellence, accountability, and continuous improvement within the pension claims team. Encourage a customer-centric approach to claims processing.
• Training and Development. Identify training needs and develop training programs to enhance the skills and knowledge of the pension claims team. Ensure the team stays updated on industry trends and best practices.

Key Competencies

• In-depth knowledge of life insurance regulations and industry practices.
• Leadership. Strong leadership skills with the ability to motivate and develop a high-performing team.
• Analytical Thinking. Excellent analytical skills to assess claims data and identify trends and areas for improvement.
• Communication. Strong verbal and written communication skills to interact effectively with internal and external stakeholders.
• Customer Focus. A customer-centric approach with a commitment to providing excellent service.
• Problem-Solving. Effective problem-solving skills to address and resolve complex claims issues.

Academic Background & Relevant Qualifications

• Bachelor’s degree in Business Administration, Finance, Insurance, or a related field.
• Professional certification in insurance or pensions (e.g., CII, IFoA) is a plus.
• Minimum of 3-4 years of experience in claims management within the life insurance or pension industry.
• Proven track record of leading and managing a team of claims officers.
• Experience in developing and implementing claims processing strategies and policies.