Pensions Risk Management Specialist

3 weeks ago

Sheffield, Sheffield, United Kingdom Royal Mail Group Full time

Job Reference Number: 306949

Pensions Risk Management Specialist (Subject Matter Expert) - Hybrid Working

Salary: £36,000 to £42,000 (Dependent on Experience) plus a £1,500 welcome bonus, potential for annual bonuses, and a competitive company pension scheme with excellent contribution rates. Enjoy a generous annual leave package of 25 days, in addition to bank holidays, with increases based on years of service.
Permanent, Full-time

Location: Hybrid working model available.

Royal Mail Pensions is expanding its team to include specialists in Pensions De-Risking and Data Management. This newly established team within the Pensions Service Centre (PSC) is dedicated to providing thorough reporting and analysis for the Royal Mail Pension Plan.

Role Overview

As a Pensions Specialist, you will gain a comprehensive understanding of the data maintained and how it correlates with the various processes and calculations throughout a member's journey in the RMPP. You will evaluate the accuracy of the data stored in the Pension Administration system and will be responsible for generating system extracts, designing tests, and assisting with Bulk Data migrations and reconciliations with external entities for the RMPP.

Your responsibilities will include:

• Designing and implementing checks for data integrity, completeness, and accuracy, generating reports, and providing relevant data extracts and summaries with clear explanations.

• Analyzing large data sets and summarizing findings to inform decision-making and necessary corrective actions.

• Collaborating with colleagues in a structured manner to ensure all discrepancies are documented, thoroughly investigated, and resolved within set deadlines, while providing regular updates on progress.

• Working in partnership with the De-Risking team and the broader Pensions Service Centre to devise solutions for outstanding pension benefits, record-keeping, and administrative processes, facilitating post-migration calculations and payments of any residual benefits in RMPP.

• Producing and testing system change requests as needed, including reports required under contract (e.g., triennial valuations) and ensuring the final migration to selected insurance providers and/or advisors is completed.

• Collaborating with partners on Bulk Data Migration, validation, and reconciliation with third-party systems.

• Preparing and defining bulk mailing extracts for individual Member Statements and addressing member inquiries with clear explanations of how results were derived.

Candidate Profile

The ideal candidate will possess a robust understanding of Defined Benefit structures, particularly those with complex benefit schemes.

Additionally, you should demonstrate:


• The capability to navigate ambiguity and provide evidence of effective solution generation.

• The ability to manage your workload independently without requiring constant supervision.

• Proven experience as a strong team player, whether working virtually or in person, while also being able to work autonomously using your initiative.

• Well-honed numerical and analytical skills, with experience handling large volumes of intricate data.

• Excellent communication and influencing abilities, with a history of engaging with senior internal and external stakeholders, as well as professional advisors.

• Proficient PC skills, particularly in Advanced Excel, with experience managing large data files, queries, and validations; knowledge of Microsoft Access is desirable.

Royal Mail promotes a hybrid working policy, though some flexibility for regular office attendance, meetings, and workshops will be necessary.

Additional Benefits


• RMG Share Schemes - partnership and matching share offers.

• Family-Friendly Support - enhanced maternity pay, paternity leave, adoption leave, and shared parental leave.

• Discounts and Offers - access to over 800 offers to help you save on groceries, outings, holidays, and household bills.

• Generous company sick pay policy.

• Your Wellbeing - 24/7 access to services and tools to enhance your life, covering physical and mental health, financial and social support.

• Lifestyle Benefits - options to purchase a car, bike, home technology, or mobile phone, along with various health benefits and insurance products, allowing for tax savings.

• Financial Support - resources to assist with debt management and financial literacy, including debt consolidation and savings plans.

• Peace of Mind - Healthcare Cash Plan, Dental Coverage, Additional Life Insurance, Hospital & Death Benefit Plans, and options for Voluntary Critical Illness coverage.

• Free & Discounted RMG Products - complimentary keep safe & redirection services, along with partner discounts.

• Free Stamps during the holiday season.

Your Career in Safe Hands

At Royal Mail, we value our employees and strive to create a workplace where they can take pride in their contributions.

We possess the assets, infrastructure, and scale that set us apart, while also being deeply integrated into the communities we serve, facilitating billions of essential deliveries annually. As one of the largest employers in the UK, we provide one in every 194 jobs.

Such a vast operation necessitates a strong support network, with departments such as HR, Legal, Finance, IT, Risk & Governance, Customer Experience, Sales & Marketing playing vital roles in leveraging the latest technology and business strategies to optimize, automate, and digitize our operations.

Royal Mail is committed to innovation and sustainability, actively working to reduce emissions and enhance air quality in our communities through investments in technologies like electric vehicles, drones, and alternative fuel trucks.

Next Steps

The subsequent phase of the selection process will involve a virtual interview, which will include competency-based and role-specific questions.

Trust is fundamental to our operations at Royal Mail. We aim to be transparent about the qualities we seek and to build trust from the outset of your journey with us. The first step is your interview, and we want to ensure you have the opportunity to shine. To facilitate this, we will provide you with your interview questions in advance, allowing you time to prepare and present your best examples.

We understand that not every candidate will meet all the criteria for the role. If your experience differs from the job requirements but you believe you possess the relevant skills to add value, we encourage you to share your story with us.

Royal Mail takes pride in our diverse employee network groups and their active role in fostering belonging and a positive work environment. We are committed to inclusion and passionate about ensuring our workforce reflects the communities we serve. We are happy to accommodate any adjustments you may need during the application and hiring process.

For further information about Royal Mail Group and our values, please refer to our website.

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