Operational Risk Specialist

2 months ago

Birmingham, Birmingham, United Kingdom Hymans Robertson Full time

About the Role

Hymans Robertson is seeking an experienced Operational Risk Coordinator to join our Third Party Administration (TPA) Risk department. As an Operational Risk Coordinator, you will play a key role in providing best practice and dispute resolution advice to our pensions teams across the TPA business unit.

Key Responsibilities

  • Provide high-quality practical advice in response to client and member complaints to the internal administration teams.
  • Provide technical guidance in line with the Pensions Ombudsman and Regulators requirements.
  • Identify risks in the business unit and support the embedding of controls into processes across the TPA business unit.
  • Review letter drafts prepared by the admin teams in response to the complainant.
  • Support the admin teams in reviewing or drafting any client communications that may be required.
  • Carry out root cause analysis and identify if other members are impacted; then work to resolve the underlying issues and roll out any changes to the admin teams.
  • Prepare requests for and coordinate compensation payments.
  • Provide pension technical advice on more complicated cases.
  • Evaluate and escalate cases to management, TPA Leadership Team, and Legal and Risk, as required, providing a summary of the cases and recommendations for next steps.
  • Identify risks to the Business Unit and propose controls to help mitigate these risks.
  • With guidance from the TPA Operational Risk Manager, analyze and help prepare Management Information for the TPA Leadership Team and the firm's Management Group.

Requirements

  • Significant experience of working in the pensions industry, ideally an administration environment with commensurate DB and DC pensions technical knowledge, is essential.
  • Experience in handling risk events/errors and complaints, with an awareness of industry best practice in pensions administration.
  • Excellent verbal and written communication skills with experience of interfacing with senior-level stakeholders.
  • Proficient in processing and/or understanding of third-party pensions administration processes, such as, Transfers, Retirements, Deaths, and Divorces.
  • Confident in providing clear, transparent, and fair communications to internal and external stakeholders.
  • Strong analytical skills and attention to detail.
  • Excellent IT skills, including working with MS Word and Excel and experience of a pension administration system.

What We Offer

  • A competitive salary and access to our profit share scheme.
  • A flexible selection of employee benefits, so you can choose a package that best matches your lifestyle and needs.
  • A collaborative and encouraging work environment where your thinking and ideas are encouraged.
  • On-site mental health and wellbeing assistance.
  • A commitment to helping you develop both personally and professionally, with mentoring opportunities and access to our award-winning learning portal, Aspire.
  • Regular social activities, in addition to three days paid volunteering leave each year and a day's leave to celebrate your birthday.
  • Hybrid working so you can enjoy the positive wellbeing of working from home as well as the benefits of meeting colleagues in our sociable, modern office environments.

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