An opportunity exists within the Human Resources Department, Sans Souci to fill the position of  Pensions Administrator

JOB SUMMARY
Supports the governance of LUCELEC’s pension schemes through effective administration of the Company’s Defined Benefit (DB) and Defined Contribution (DC) Plans.

ESSENTIAL DUTIES

• Maintains accurate and reliable pension records for all active members, pensioners, and deferred pensioners by verifying, reconciling, and coordinating updates with the external Pension Administrator to support precise benefit calculations and compliant reporting.
• Monitors pension contributions and benefits by ensuring timely remittance of payroll deductions to Administrators and Investment Managers and facilitating the accurate and prompt processing of benefits to maintain scheme funding integrity and member confidence.
• Supports the Board of Trustees by monitoring compliance with the Trust Deeds and Rules and the Insurance Act and ensuring follow-up on all matters, such as execution of Supplemental Trust Deed and Rules and Deed of Appointments to prevent breaches and protect the legal standing of the pension schemes.
• Compiles and submits all required data to auditors, regulators and actuaries, ensuring accuracy and compliance with reporting standards.
• Supports the preparation of the Annual IAS19 and funding valuation reports by collating and submitting the data to the actuaries by the deadline date to promote transparent reporting and long-term sustainability of the pension schemes.
• Collaborates with Finance and Accounts Department and the external auditors to resolve queries and provide required audit documentation.
• Supports the preparation of pension updates and reports by compiling fund performance data, membership statistics, and compliance information to ensure the HR and Audit, Risk and Compliance Committees and the Board receive timely and accurate reports for decision-making.
• Supports the implementation of Board approved actuarial recommendations by drafting communication to the Company and Trustees, monitoring contribution adjustments, and ensuring adherence to funding requirements that support financial sustainability.
• Manages the issuance of member annual statements by requesting, verifying, and tracking submissions from external Pension Administrators to promote transparency and assist members with retirement planning.
• Supports the Trustees by ensuring that Investment Managers provide performance reports and other relevant information to allow   the Trustees to evaluate fund performance during regularly scheduled Trustee meetings.
• Provides governance support to the Board of Trustees by serving as Secretary, scheduling and coordinating meetings, preparing agendas and minutes, and tracking follow-up actions to promote informed, compliant, and efficient governance.
• Processes invoices from pension service providers, including life insurance attached to the Pension Schemes, by verifying charges against contracts, deliverables, and service levels to ensure cost control, accountability, and value for money.
• Implements pension processes for retirements and resignations by coordinating actuarial notifications, pension calculations, and communication with employees to ensure accurate and timely benefits.
• Facilitates onboarding and orientation for new Trustees by providing essential information, arranging training and support to enhance understanding of roles, responsibilities, and governance requirements.
• Engages effectively with all pension stakeholders, including Administrators, Investment Managers, accountants, auditors, actuaries, regulators, insurers, members, and pensioners, by maintaining open communication, resolving issues promptly, and ensuring smooth pension operations.
• Assists with the drafting of new and revised pension policies and procedures for Management and Trustee approval, ensuring alignment with legislative requirements, regulatory changes, and industry best practices to maintain compliance and operational efficiency.
• Provides operational updates to the Manager, Employee Relations, through regular briefings and monthly reports to support timely issue resolution and continuous improvement.
• Maintains current knowledge of pension legislation, regulatory requirements, and industry developments by participating in professional learning, reviewing publications, and maintaining networks to ensure ongoing compliance and protection of member benefits.
• Liaises with key stakeholders, including pensioners, trustees, accountants, auditors, regulators, actuaries, external administrators and investment managers, to ensure efficient execution of pension administration functions and strengthen compliance with Financial Services Regulatory Authority (FSRA) regulations and trust deed and rules.
• Performs any other job-related duties as assigned.

QUALIFICATIONS AND EXPERIENCE

1. Associate Degree in Business Administration, Human Resources or a related field, plus a minimum of four (4) years’ experience in pension administration.
2. Professional certification in pensions administration (eg. QPA, QKA) is desirable;

KNOWLEDGE, SKILLS AND ABILITIES

• Strong knowledge of Pension Scheme Administration and employee benefits management and corporate governance principles;
• Sound knowledge of and ability to interpret departmental guidelines and standard operating procedures, Collective Agreements, Labour Act, the National Insurance Corporation Act and Regulations, the Trust Deed and Pension Rules for LUCELEC Staff and Insurance Act;
• Effective problem-solving, conflict resolution, employee relations and decision-making skills, and ability to manage time in a dynamic environment, meet deadlines and remain calm under pressure;
• Effective time and stress management skills;
• Excellent team player with effective interpersonal skills and a high level of emotional intelligence;
• Prioritize tasks, meet deadlines and maintain meticulous records;
• Excellent adaptation, organizational and time management abilities;
• Proficient computer literacy skills; ability to manipulate software applications such as word processing, spreadsheets, databases and presentation programmes, as well experience with HR information systems;
• Ability to effectively exchange information, that is, oral and written communication, feedback, facilitation, active listening and diplomacy;
• Ability to respond effectively to legislative and organizational changes;
• Ability to exercise initiative, judgment and tact in the execution of duties;
• Ability to integrate Company core values throughout all business practices;
• Ability to effectively develop and maintain relationships with management, staff, partners and stakeholders at all levels.

If you have any queries on this vacancy, please email slouisy@lucelec.com or cfrancis@lucelec.com. Do not email your resume to slouisy@lucelec.com or cfrancis@lucelec.com, instead upload your resume on our portal.  You will only be allowed to submit one document; therefore, you can collate your cover letter, resume and/or certificates into one document to facilitate upload.