Fresh Roles at Eskom Pension and Provident Fund

Oversee specialist benefits processing for administrators and social workers

• Prepare up to date, accurate, monthly reports and statistics for the Specialist Benefits Processing Manager
• Ensure that audit controls are in place and audit requests are closed timeously
• Update Benefits Allocation Checklist to ensure fair and equitable allocation of death benefit claims
• Oversee benefits administrators’ responsibilities including;
  • Perform quality assurance on claim forms and supporting documents received according to applicable workflow, rules and legislation to ensure claims are accurate and compliant.
  • Validate the exit claim form to the exit movement received via Eskom interface.
  • Manage the allocation and reconciliation of member contributions to ensure that all contributions are correctly recorded
  • Ensure accuracy of all claim documentation and member information
  • Verify applicability of member options to Fund Rule and Legislative requirements.
  • Ensure that all data is accurately captured by benefits administrators into the system
  • Validate the manual calculated Final Average Emoluments to ensure accurate application in the exit calculation in all areas.
  • Re- calculate the pre commutation value for the death of a pensioner claim, before loading dependants for a benefit

• Ensure that all death claims are processed accurately and timeously
• Process and monitor pensioners information within given timeframes

Ensure that all queries and complaints are timeously resolved and escalated where necessary

• Manage the administration system, checking that accurate record keeping and query management is adhered to.
• Attend to enquiries, cooperate and provide information on legal complaints.

Project Management support

• Keep abreast with changes in relevant guidelines and other legislation, to make recommendations where policies and procedures need to be amended.
• Recommend processes and procedures that are relevant to the section and enhance service delivery.

Provision of administration services to beneficiary and guardian cases; implementation of Management Benefits Committee

• Coordinate the investigation and implementation of decisions, requests and referred cases, with reports and recommendations being submitted to BC, MP& BP or other internal departments.
• Manage the suspension, addition, termination and reinstatement of beneficiaries (widows and minor children) in compliance with Fund rules and legislation.
• Ensure guardian changes are affected and children are properly placed with suitable guardians.
• Check the accurate payment of benefits to the correct beneficiaries.
• Follow up on needs assessment conducted and guardian cases identified where there is a misuse of benefits.
• Contribute to the compilation of manuals / guidelines for guardians.
• Co-ordinate the submission of trust advance applications and ensure that these are submitted timeously to Corporate Secretariat
• Ensure the timeous payment of the trust advance payments to the beneficiaries
• Monitor the use of children’s instalment lump sum accounts and pension benefits to reduce the number of unnecessary requests for advanced payment.
• Ensure that all customer and stakeholder enquiries are accurately and sensitively resolved or escalated to the appropriate level.

People Leadership 

• Manage planning of resource requirements, ensure sufficient capable resources are in place to meet service delivery demands, maintaining the effective and efficient capability of the department.
• Build a high performing team where the best people are deployed in the right roles and deliver against strategy.
• Ensure that all employees are motivated, developed.
• Manage employees’ performance and ensure that their individual and collective performance is of the required standard.
• Implement and maintain an effective system of internal controls and delegations of authority for the department, to ensure that accountability for decisions made.
• Inspires, aligns and engages employees around the vision and strategy of the Fund, maximising employee engagement and willingness to invest discretionary effort. 

Requirements

Required Minimum Education/Training

• Relevant Bachelor Degree. Registered with professional bodies - where applicable.

Required Minimum Work Experience

• At least 5 years job-related experience which should include at least 1 year’s experience in a supervisory role.
• Knowledge of any African Language is an advantage.

Technical Competency Requirements

• Working knowledge of Pension Fund Rules
• Basic knowledge of Income Tax Act, Divorce Act, Pension Funds Act, Child Care Act, Marriage Act, Recognition of Customary Marriage Act, Mental Health Act
• Working knowledge of Benefit administration
• Knowledge of Law - Section 37 (C) allocation of death benefit lump sums
• Valid driver’s licence

CLOSING DATE: 20 FEBRUARY 2024

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Description

Conduct Risk Analysis and Quantitative Research 

• Independently (with minimal oversight and supervision) verify investment performance data using our multi asset class risk system to confirm data integrity and check that there are no outliers in terms of fund, market, benchmark and liability data.
• Compare data across performance and risk systems to ensure uniformity of data and run analysis on this performance data to produce usable information.
• Further carry out investigations on any identified outliers, drill down into the data and engage with our Investment Administration team and our various internal and external Portfolio Management teams.
• Conduct performance and risk analysis per portfolio, per asset class, providing interpretations and resolutions of investment issues and flagging points of concern.
• Identification of key risk drivers and attribute performance returns to those attributes with the aim of helping to maximise returns per unit risk.
• Inform and advise the office of the CIO on emerging trends and important analysis timeously.
• Build mathematical/statistical (including machine learning) models to support investment decision making and determine impact of investment decisions made.
• Work closely with or drive the design and implementation of quantitative research projects.
• Nurture the growth of junior staff in either risk management or quantitative research. 

Manage and monitor the Fund’s asset managers in terms of their portfolio mandates

• Monitor and evaluate the effectiveness of the investment decisions and optimisations of investment returns of the Fund’s asset managers (internal and external).
• Develop and maintain relationships with investment and banking communities which should enable access to market research, trends and statistics.
• Perform performance and risk-return analysis and provide recommendations to CIO as and when required.
• Assess and monitor investment portfolio and Fund level risks and performance attributions.
• Generate reports analysing investment performance.
• Assess performance against stated benchmarks.

Manage the Risk System

• Act as the Risk system super-user, ensuring availability of analysis on the system.
• Verify that the system is up to date.
• Verify that the scenario testing reports are set up within the system so that the system is adopted within business.
• Convert investment scenarios into Risk system definitions.
• Liaise with the Risk system provider on all issues, technical and otherwise.
• Develop customised reports.

Conduct ad-hoc research and analysis 

• Identify and conduct proactive risk analysis and quantitative research.
• Conduct this proactive analysis and research around changes in the risk profile of the Fund, market asset classes return drivers, and individual portfolio management (not an exhaustive list).
• Interpret ad-hoc analysis and research, identifying the need for follow-up analysis and research, and then conducting or facilitating that analysis or research.
• Advise the office of the CIO on the effects of blended decisions (the aggregation of all mandates within an asset class or of all the asset classes within the context of an investment strategy).
• Provide input into due diligence studies, alongside other stakeholders.

Requirements

TECHNICAL COMPETENCY REQUIREMENTS  

• In-depth knowledge and understanding of quantitative and risk financial practices, principles, and procedures. A proven track record of being able to translate these into practical application.
• Knowledge of legislation governing investments
• Knowledge of legislation governing JSE
• Knowledge of CFA Code of Conduct or other body espousing highest professional standards
• Knowledge and understanding of portfolio management process.
• Knowledge and understanding of asset classes and instrument types (including modelling, pricing and trading)
• Knowledge and understanding asset and liability modelling.
• In-depth skills of financial and investment modelling
• In-depth skills in programming, database and software management, machine learning will be advantageous.

REQUIRED MINIMUM EDUCATION/TRAINING

• Honors degree in mathematics, statistics or actuarial science, engineering or equivalent, including finance, investment or commerce. Master’s level degree will be advantageous.
• A professional certification or significant progress towards a Certificate in Investment Performance Measurement (CIPM), CFA, Financial Risk Manager (FRM) certification will be advantageous.

REQUIRED MINIMUM WORK EXPERIENCE

• At least 5 years job-related experience
• Exposure to Asset-Liability Modelling would be advantageous 

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Description

VERIFY INVOICES 

• Obtain monthly invoice reports and request related statements, review information and follow up on creditor invoices, so that invoices are received timeously from creditors.
• Check invoices for compliance to legislative requirements and capture invoices received into the procurement system, according to standard procedure.
• Obtain payment authorisation for invoices received and forward them to the relevant section for further processing.
• Capture invoices on the procurement system and verify accuracy of amounts invoiced against correlating information, contact relevant stakeholders to resolve differences identified.
• Process credit notes for goods returned and invoices incorrectly issued, according to procedure in a timely manner.
• Assist in following-up on open items for purchase orders and goods received vouchers, as instructed by the Financial Manager / Accountant.
• Reconcile and make payments of the pensioner payroll suppliers and liaise with the Fund Accountant / Benefit Accounting Manager and Supervisor.
• Assist in followings-up open items in the payroll (pension) suppliers’ creditor accounts.
• Reconcile the Fund payroll suppliers as part of the payment process.

RECONCILE CREDITORS

• Perform monthly creditor’s reconciliations between aging analysis and supplier statements, achieving accurate information by due dates.
• Follow-up on any errors/discrepancies with the relevant stakeholders, resolving issues identified timeously.
• Check that appropriate supporting documents are attached to reconciliations in accordance with policy requirements.
• Check that monthly creditor statements are received from creditors for reconciliation, follow up where necessary to access statements not received.
• Reconcile and make payments of the pensioner payroll suppliers and liaise with the Fund Accountant / Benefit Accounting Manager and Supervisor.
• File all source documents and reports in an accessible manner.

PROVIDE ADMINISTRATIVE SUPPORT TO THE TEAM 

• Follow up with relevant internal and external stakeholders to access documentation to be submitted in the preparation of reports and schedules, as necessary.
• File working papers for audit purposes, checking that all audit requirements have been addressed.
• Process invoices to cost centres and ledger accounts, ensuring that they are correctly allocated.
• Provide a list of accruals for the processing of monthly provisions, monthly.
• Prepare accruals for review by the Financial Accountant and process journal entries for monthly accruals, ensuring accuracy of information.
• Follow-up on dated invoices, accessing the information required to resolve them timeously.
• Raise payment requests for the team as requested

Requirements

TECHNICAL COMPETENCY REQUIREMENTS 

• Basic knowledge of debit / credit principles
• Knowledge of procurement systems
• Ability to conduct cash book reconciliations
• Strong numerical skills
• Excel Intermediate
• Business online (Standard Bank)

REQUIRED MINIMUM EDUCATION/TRAINING

• Relevant Diploma

REQUIRED MINIMUM WORK EXPERIENCE

• 2 years job-related experience, specifically within an Accounts environment