Operations TPA Manager

Rothesay is a UK insurance company purpose built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £50bn of assets and securing pensions for over 810,000 people. We secure pensions for over 170 pension schemes and insurers including British Airways, Post Office, ASDA, National Grid and Aegon.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

Job Title:           Operations TPA Manager

Role type:          Permanent

Operations Divisional Overview

The Operations division is an integral part of the independent control and support structure whose key mandate is to establish and maintain an effective control environment. Robust control and risk management drives our Business.

Operations strategy is underpinned by 3 guiding principles- Payments, Policyholders and Data Management. These 3 principles drive our processes and controls, and are essential for reputation, risk/capital management, and TPA management.

In addition, Operations provides solutions to new structures, monitors contractual and regulatory obligations and creates efficient and cost saving processes. It is also a member experience unit providing best-in-class policyholder service, client management and TPA management.

General activities of the operations team include:

• Act as an independent control over transactions of the Business
• Trade capture and risk mitigation to ensure bookings are an accurate reflection of business risk
• Execution and management of lifecycle events
• Support of project teams in department-wide initiatives
• Development of technology infrastructure to support the risk management and processing capabilities of transaction

The TPA Management Team ensures our TPAs (a) provide a best-in-class policyholder experience to protect our reputation, and (b) maintain accurate data as this feeds directly into our risk management model.

This role will suit a person who is a self-starter, creative with process, confident in managing projects to strict deadlines, confident in communicating with a range of internal and external stakeholders, who can work independently as well as being part of a small team, and who is able to communicate effectively and demonstrate initiative. It is key that the candidate understands the role that Operations plays in a financial services firm such that they can ensure processes implemented fit in with the wider scope of the team.

The position available gives the candidate a lot of autonomy and it is important that they are driven to deliver against targets whilst managing time and expectations independently. The role would ideally suit a candidate with +7/8 years’ work experience in the pensions sector.  Due to the dynamic nature of this role, previous work experience is essential.

Responsibilities:

• Manage performance of third party administrators - SLAs / KPIs, delivery against initiatives
• Deliver first-class member/policyholder service (including active TCF engagement)
• Perform operational reviews and audits of processes and calculations
• Compliance and complaints management
• Coordinate and implement key strategic initiatives
• Cost and budget management
• Efficiency drives - continuous improvement initiatives focusing on processes and core controls
• Client relationship management
• Keep abreast of legislative and industry practice changes and implement these in the business

Skills & experience:

Mandatory:

• Possess a degree from a leading university in a relevant subject and/or have relevant industry qualifications
• Pensions knowledge
• Strong understanding of risk management and control principles
• Accuracy and absolute attention to detail
• Ability to manage multiple tasks across and stay focused on the operational risks
• Strong Excel skills
• Project management experience
• Ability to manage own workload and work as part of a team

Preferred:

• Good pensions, insurance and/or reinsurance experience
• Knowledge and understanding of the longevity risk market (eg: buy-outs, buy-ins, longevity swaps, reinsurance)
• Experience of third party administration - processes, procedures, management
• Ability to analyse complex documentation and summarise key operational controls required to risk manage transactions
• Very strong communication skills with ability to clearly articulate issues to senior management

Rothesay competencies

• Dedication to role – Motivated to provide an effective support service across all facets of role
• Team Player – Demonstrates evidence of being a strong team player, collaborates well with others and encourages other admin team members
• Communication – Ability to communicate what is relevant and important in a clear, constructive and concise manner
• Organised - Ability to work under pressure and prioritise workload in a fast paced environment. Ability to work autonomously with limited supervision
• Creative and innovative – Looks for ways to improve current processes and help develop creative solutions that have practical value for the admin team
• Judgement and Problem Solving – Proactive, sees the big picture and willing to be flexible to solve issues as they arise

Inclusion Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role.