Description
As the Pension Analyst - Terminations, you will be responsible for pension terminations and pre-retirement death benefit processing, payments made to former plan members, as well as re-occurring monthly activities, ensuring accuracy and confidentiality.
Responsibilities:
- Accurately calculate and process pension packages for terminating RBC defined benefit plan members within 30 days of termination processing.
- Accurately calculate pension entitlement for beneficiary of deceased RBC defined benefit plan members within 30 days of receipt of notification of death.
- Accurately calculate and process pension payouts for employees terminating from RBC Pension Plans.
- Accurately prepare and distribute PARs to employees following termination from all RBC pension plans.
- Review the rehired reports to ensure letters are not sent and/or values are not paid out.
- Ensure that report of new enrolments for the Caribbean Plan is directed to appropriate parties.
- Second signoff on termination payouts.
- Ensure tracking and reporting of all deferred pension elections and payouts by custodian are accurate and up-to-date.
- Ensure follow-up letters are sent to RBC pension plan terminated members who have not responded.
- Review and maintain department procedures on a quarterly basis.
- Act as back up for other processes in the department.
- Assist with other projects as assigned.
Requirements:
- Well organized with the ability to prioritize work effectively
- Good oral and written communication skills/computer skills
- Strong decision making ability and ability to take the task to completion with minimal instruction
- Good understanding of Pension Standards Act, ITA and provincial pension legislation.
- Self-starter
- Strong PC skills (Microsoft Excel, Word)
Nice to Have:
- SAP knowledge
- Business Knowledge Functional Expertise
- Pension Plan Administration Certificate
- Understanding of actuarial concepts
- RBC net & HR Self-Serve Tools
- Knowledge of RBC Pension Program
What's in it for you?:
- Opportunities to do challenging work
- Opportunities to take on progressively greater accountabilities
- Opportunities to building close relationships with clients
- Access to a variety of job opportunities across business and geographies