Fund Administration Officer

To provide administrative support for the management of all Mutual Funds, Unit Trust, Pooled Funds and Other Arrangements administered by JMMB or its related entities.

MAIN DUTIES & RESPONSIBILITIES:

o Retirement Scheme 

JMMB RS Corporate

 Monitor email on a daily basis – contribution listing and payment confirmations
 Reconcile contributions received for corporate clients against listings; where there are discrepancies perform relevant investigations
 Support with processing contribution on Pension Admin System
 Perform daily reconciliation JMMB Bank Settlement Account and other bank accounts
 Liaise with Bank Recon/CP to verify bank confirmations for further credit to members corporate Fund 30 accounts & provide monthly report of outstanding contributions
 Respond to on-going queries from members, employers and pensioner’s requirements

JMMB RS Retail

 Following up with retirement quotations, notifying CRO’s, liaising with client to ensure completeness of retirement process
 Liaise and support branch network relating to client queries – merging records on UCS with pension system/ member enrolment/ switch requests/ leaver processing/ member update/ processing TV-ins and TV-outs, etc.
 Follow up with branches, to ensure upload of enrolment forms and supporting enrolment documents to UCS
 Daily reconciliation of invested contribution for JMMB RS Retail members between Fund Strategy Fund 30 Account and Pension Admin System

o General – JMMB RS and Superannuation Plans

 Support with reviewing transactions initiated on Pension Master Online (PMO) for execution in Work Manager (E.g. Switches, updates)
 Solicit retirement quotation from insurance companies and or actuarial firm
 Support collation of information to support administrator in the preparation of internal and external, regulatory and non-regulatory reports. Such as:
 Reports to Tax Administration Jamaica (TAJ)
 Annual Reports
 Actuarial valuation Data
 Trustee quarterly report
 FSC’s Certified Financial Report

 List of Selling Agents
 Members’ Hand Book
 Filing of Withholding Tax for Pension Funds, Pooled Funds and Individual Retired Members
 Follow up with Transfer Value-In and obtain relevant documentation from respective institution
 Assist with processing and execution of leavers’ requests, which includes:
- Preparing and distributing packages relating to death, transfer, retirement/ refund to members and/or Trustees
 Assist with preparation and distribution of Annual Benefit Statements and managing client queries after distribution
 Maintain log of client issues, maintaining a registry of action taken and obligations to be met, reporting periodically to the company head on action taken.
 Address question or concerns from Members/Trustees
 Act as relief support for Senior Fund Administrator/ Fund Administrator/ Utility Officer when necessary
 Support effective maintenance of filing room in line with established guidelines
 Liaise with Insurance Providers regarding confirmation of payment to pensioners
 In the event of a wind up, support the coordination and management of overall wind-up process for discontinued Plans. Duties include, but are not limited to, support the collation of relevant submissions to the FSC, Plan’s actuary, Board of Trustees, TAJ and Members
 Monitor and execute member’s requests via pension online portal in accordance with established Service Level Agreement
 Update pension systems with new enrolments, update requests and transfer details from external providers on behalf of existing members
 Log and solicit approvals for internal transfer transaction
 Support with pension payments current paid from the pension plan
 Drafts third party correspondence for review by relevant senior officers
 Assists with the movement of documents to facilitate and/or obtain authorized signatures.
 Provide support at seminars/functions structured to promotes Fund Services or the products solutions offered by JMMB
 Performs any other duties, which may be assigned from time to time.
 Promotes the JMMB’s philosophy of the Vision of Love and its unique culture
 Is engaged in the transformation process for the continuous improvement of the JMMB and its associated companies.

EDUCATION, TRAINING & WORK EXPERIENCE REQUIRED:
 First Degree in Management Studies, Business Administration, or related filed.
 At least two (2) years’ work experience in a similar capacity.
 The Jamaican Securities Course would be a distinct asset
 Basic knowledge of the statutory regulations and Acts governing the operations, namely the Pension Act and Regulations, Money Laundering Act, Companies Act, Financial Institutions Act, and all other Acts governing the Financial Services

Sector.
 Proficiency in oral and written communication.
 Good level of proficiency in the use of computer, particularly spreadsheets.
 Proficiency in filing and record keeping
 Good research, analytical and presentation skills.
 High level of interpersonal skills.
 Detail oriented