Pensions Risk Management Specialist
3 weeks ago
RMPP De-Risking Pensions Specialist - Hybrid Work Environment
Royal Mail Pensions is in the process of establishing a new team focused on De-Risking Pensions and Data Professionals within the Pensions Service Centre (PSC). This initiative aims to enhance the delivery of 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 routines and calculations throughout a member's life in the RMPP. You will evaluate the accuracy of the data stored in the Pension Administration system, providing system extracts and designing tests, while also supporting Bulk Data migrations and reconciliations with external entities for the RMPP.
Your responsibilities will include:
- Designing checks for data integrity, completeness, and accuracy, generating reports, and offering relevant extracts or summaries of the data with clear explanations.
- Analyzing large data extracts and summarizing findings to inform decisions and solutions for necessary rectification actions.
- Collaborating with colleagues in a structured manner, ensuring all discrepancies are documented, thoroughly investigated, and resolved within set deadlines, while providing regular updates.
- Working together with the De-Risking team and the broader Pensions Service Centre to devise solutions for any outstanding pension benefits, record-keeping, and administrative processes, facilitating post-migration calculations and payments of any residual benefits in RMPP.
- Producing and testing any required system change requests, including specified reports under contract (e.g., triennial valuations), and ensuring the final migration to selected insurance providers and/or advisors.
- 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, providing clear explanations of how results were derived.
Candidate Profile
The ideal candidate will possess a broad and deep understanding of Defined Benefit structures, particularly those with complex benefit schemes.
Additionally, you should have:
- The capability to navigate ambiguity and demonstrate evidence of generating solutions.
- The ability to manage your own workload and operate independently without 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-developed numerical and analytical skills, with experience handling large volumes of complex data.
- Highly developed communication and influencing skills, with experience engaging with senior internal and external stakeholders, as well as professional advisors.
- Excellent PC skills, particularly Advanced Excel, with experience managing large data files, queries, and validations; experience with Microsoft Access is desirable.
Royal Mail supports a hybrid working policy, but some flexibility regarding work location for regular office attendance, meetings, and workshops will be necessary.
Additional Benefits
- RMG Share Schemes - partnership and matching share offer.
- 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.*
- Supportive and generous company sick pay.
- Your Wellbeing - 24/7 access to services and tools for physical and mental health, financial and social support and advice, available for you and your family.
- Lifestyle benefits - options to purchase a car, bike, home technology, or mobile phone, along with a range of health benefits and insurance products, allowing for regular salary deductions that may save on tax.*
- Financial support - resources to help manage debt and enhance financial knowledge, including debt consolidation and savings plans.*
- Peace of mind with - Healthcare CashPlan, Dental Cover, Additional Life Insurance, Hospital & Death Benefit Plans; options for Voluntary Critical Illness Insurance.
- Free & discounted RMG products - including free keep safe & redirection services, partner discounts.
- Free stamps during the holiday season.*Available only to permanent employees.
At Royal Mail, we value our workforce and strive for our employees to take pride in their roles. With our extensive assets, infrastructure, and scale, we play a vital role in the communities we serve, making billions of deliveries each year. We manage the largest B2B customer database in the UK and are among the largest employers, providing one in every 194 jobs.
A robust support network is essential for operations of this magnitude, with departments such as HR, Legal, Finance, IT, Risk & Governance, Customer Experience, and Sales & Marketing all integral to optimizing, automating, and digitizing our operations.
Next Steps
The subsequent stage of the selection process will involve a virtual interview featuring 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, which we want to be an opportunity for you to showcase your abilities. To facilitate this, we will provide you with your interview questions in advance, allowing you time to prepare and ensuring you have your best examples ready. Royal Mail Group values trust and our people. We understand that not every candidate will meet all criteria for the role. If your experience differs from the job requirements but you believe you possess the relevant skills to contribute value, we encourage you to share your story with us. We are proud of 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; please indicate your requirements in your application.
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