Pensions Risk Management Specialist

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

Your nearest office locations include Bristol, Edinburgh, Liverpool, Manchester, or Sheffield.

Royal Mail Pensions is expanding its team by incorporating De-Risking Pensions & Data Professionals. 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 Professional, you will cultivate a comprehensive understanding of the data maintained and its implications on the routines and calculations throughout a member's lifecycle in the RMPP. You will evaluate the integrity 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 delivering relevant extracts or summaries of the data with clear explanations.

• Analyzing and comparing extensive data extracts to summarize findings for decision-making and 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 on progress.

• Working in partnership 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 residual benefits in RMPP.

• Producing and testing any necessary system change requests, including reports specified 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 profound understanding of Defined Benefit structures, particularly those with complex benefit schemes.

Additionally, you should demonstrate:

• The capability to navigate ambiguity and provide evidence of generating solutions.

• The ability to plan your own workload and operate independently without constant supervision.

• Experience that showcases you as a strong team player, whether virtually or in person, while also being able to work autonomously using your initiative.

• Well-honed numerical and analytical skills, with a background in managing large volumes of complex data.

• Highly developed communication and influencing abilities, with experience engaging with senior internal and external stakeholders, as well as professional advisors.

• Proficient PC skills, particularly Advanced Excel, with experience in handling large data files, querying, and validation; knowledge of Microsoft Access is desirable.

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

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 policy.

• Your Wellbeing - 24/7 access to services and tools for physical and mental health, financial, and social support and advice 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 and potential tax savings.

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

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

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

• Complimentary Stamps during the holiday season.
*Benefits available only to permanent employees.

Your Career in Safe Hands

At Royal Mail, we value our employees and strive for them to take pride in their work within our organization.

We possess the assets, infrastructure, and scale that others lack, yet we are deeply integrated into the communities we serve, facilitating billions of essential deliveries each year. We manage the largest B2B customer database in the UK and are among the largest employers in the country, providing one in every 194 jobs.

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

Royal Mail is an innovative organization committed to reducing emissions and enhancing air quality in our communities. This includes investments in technologies like electric vehicles, drones, alternative fuel trucks, and energy improvements to our facilities.

Next Steps

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

Trust is the cornerstone of 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 it to be 'your' interview. 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 both trust and our people.

We do not expect every candidate to meet all the criteria for the role. If your experience differs from the job requirements but you believe you possess the relevant skills to contribute value, we would love to hear from you.

Royal Mail takes pride in our diverse employee network groups and their active role in fostering belonging and promoting a positive work environment. We are firmly committed to inclusion and passionate about our workforce reflecting the communities we serve. We are happy to accommodate any adjustments you may need during the application and hiring process. Please include these details in your application if necessary.

For more information on Royal Mail Group and our values, please refer to our website.