POSITION DESCRIPTION

Transcription

1 POSITION DESCRIPTION Position Title Superannuation Plan Administrator Level 4 (Insurance) Date: October 2014 Group: Reports to: Employment Status: WA Local Financial Services Pty Ltd Team Leader Permanent Full-time SECTION 1 CORPORATE PROFILE The WA Local Government Superannuation Plan (WALGSP) is a leading industry fund servicing approximately 43,000 members, predominately within the local government sector and including some 20 percent outside of the local government sector, funds under management in excess of $2b. WA Super (WALGSP) has established a service company (WA Local Financial Services Pty Ltd, trading as Western Financial) which delivers the full range of services required by the members. WESTERN FINANCIAL MISSION To enhance our members wealth to achieve a satisfactory level of retirement adequacy according to their individual requirements. The critical success factors are as follows:- 1. TOP QUARTILE INVESTMENT PERFORMANCE 2. RETIREMENT ADEQUACY FOR MEMBERS 3. ACHIEVEMENT OF ORGANISATIONAL SIZE & SCALE 4. COMPETITIVE PRODUCTS, SERVICES 5. SUPERIOR MEMBER SATISFACTION 6. EFFECTIVE GOVERNANCE

2 The key requirements of Western Financial are to:» Conduct all administration for superannuation fund members;» Deal with various funds managers - primarily through the Chief Executive Officer - seeking advice and input and place funds on behalf of members;» Assist members in establishing a satisfactory level of Retirement Adequacy and through wealth creation;» Remain competitive and increase the assets under management to a level at which economies of scale are maximised to their fullest potential.» Growth via the retention of existing retiring members by delivering retirement planning services and pension products;» Growth via the retention of existing members and the attraction of new members and superannuation funds to the group;» Ensure effective governance practices and the provision of quality cost effective insurance options and other services to members;» Manage all compliance matters on behalf of the Funds administered to ensure that they meet all of the statutory and legal obligations;» Liaison with APRA, ASIC, AUSTRAC and the ATO to ensure good administration compliance as well as relationships. POSITION SUMMARY The Insurance Administrator will:» Manage all complex insurance issues, including the insurance contract; and assume responsibility for the insurance portfolio and relationship with the insurer;» Manage all member death claims;» Manage the income protection claim payments with the insurer» Assist with the change or update of the Fund s insurance products or insurance provider.» Providing assistance to the Plan Administration Manager and Team Leaders as required;» Provide assistance to WA Super employees with insurance queries;» Assist in the development and regular reviews of all Insurance Administration policies, procedures and induction manuals;» Ensure all member communications meet governance requirements in liaison with the Business Process and Compliance Manager;» Assist with Business improvement and training issues throughout the team; and» Participate in job rotation as required. Position Description Plan Administration (Insurance) Page 2 of 8

3 SECTION 2 KEY WORKING RELATIONSHIPS INTERNAL Chief Executive Officer Members of the Board of the Trustee Business Unit Managers and Staff EXTERNAL ALGSA Compliance Group Relevant industry associations including, ASFA, IFSA, FEAL, ALGSA, LGMA, WALGA, ATO, ASIC. Members & potential members of Fund Major service providers to the Fund and Quadrant First. SECTION 3 KEY RESULT AREAS AND KEY PERFORMANCE INDICATORS KRA BEHAVIOURAL DESCRIPTORS KPI 3.1 Insurance Underwriting» Manage all complex insurance issues, including the insurance contract; and assume responsibility for the insurance portfolio and relationship with the insurer;» Provide assistance to staff on complex insurance issues;» All member insurance changes are to be loaded;» Review member applications for cover to determine if underwriting is required;» Where underwriting is required the appropriate paperwork to be forwarded to the Insurer;» Set up new insurance cover for members and confirm details in writing;» Liaising with Medical Providers and the member to organise medical examination, blood tests and other medical assessments required;» Advise members about loading and exclusions imposed on cover; and» Monitor and report to Manager on insurance arrangements with insurer including adherence to SLA and policy conditions.». As per procedure.» RZ49 Insurance Management Framework Position Description Plan Administration (Insurance) Page 3 of 8

4 3.2 Claims Administration Death Salary Continuance Total & Permanent Disability 3.3 Insurance Maintenance» Manage all member temporary/permanent disability, salary continuance insurance and death claims;» Answer all member queries and requests regarding insurance claims for death,» Assist clients and their beneficiaries (if applicable) making insurance claims;» Collate and post appropriate claims pack to member;» On receipt from the member prepare documentation to be sent to the Insurer and upload on UWPlus;» Undertake initial assessment of members claims;» Prepare claims staking information;» Reporting for all claims in consultation with the Plan Administration Manager where required;» Liaise with insurer regarding status of claims;» Deal with complaints in relation to insurance decisions as per the Funds complaints policy;» Review declined claims to ensure insurers decision is in line with insurance policy documents and that all claims that have a reasonable chance of success have been pursued in the best interests of the beneficiary; and» Prepare Board Reports.» Maintain adequate procedures to ensure that the activities in relation to the IMF are carried out as per the IMF, Insurance Strategy, insurer s policy document and service level agreements.» Notification of any issues that may materially affect the insured benefits offered to, or the insured benefits acquired for the benefits of beneficiaries to the Manager, Risk Manager or Fund Secretary eg failure of insurer, poor claims acceptance.» Maintenance of appropriate records to ensure prospective insurers can properly» As per the procedure.» RZ49 Insurance Management Framework» RZ49 Insurance Management Framework (IMF) Position Description Plan Administration (Insurance) Page 4 of 8

5 3.4 Innovation 3.5 Training and Development of Staff assess insurance being offered or acquired (as per SLA).» Assist in the development and regular reviews of all Insurance Administration policies, procedures and induction manuals including random audits;» Ensure policies, procedures and induction manuals are audited by stakeholders;» Co-ordinate the development of FAQ s for both staff and clients on relevant insurance topics as identified; and» Ensure all common and new insurance queries answered are available on line to staff and clients in a timely manner.» Provide training and development to other Administrators including those backing up the insurance role;» Effective communication, ensure all information relating to the company is filtered down to all staff accurately and in a timely manner;» Assist in the development of staff skills and performance as evidenced by internal and external feedback and participate in staff training sessions, as well as providing positive feedback and encouragement;» Foster and actively encourage a positive, innovative work environment that contributes to the development of the team approach;» Ensure key values and principles of WALFS are upheld; and» Review annually, update regularly as required.» Annually» Minimum of five (5) hours per week» As required. 3.6 Assistant 3.7 Succession Planning» Providing training, mentoring and development for other staff members; and» Checking work and advising of any errors and how to resolve.» To assist other staff as required.» As required» There are a variety of opportunities within the business.» Initially on a daily basis to weekly as required» As required Position Description Plan Administration (Insurance) Page 5 of 8

6 SECTION 4 AUTHORITY LEVELS» Position operates with autonomy within parameters set by the Team Leader and Administration Manager SECTION 5 RESOURCES AND BUSINESS LEVELS WALGSP Number of staff Operational Budget 57 FTE $10m+ SECTION 6 MAJOR CHALLENGES Medium Term (6-12 months)» Build relationships with members and employers to maximise the accuracy of data to the Plan, providing support and information to claimant in a timely and courteous manner;» Ensure all relevant information is forwarded to Insurer and or claimant in a timely manner;» Manage job queue to ensure KPI s are met;» Develop working relationship with Fund s insurer Long Term (over 12 months)» To ensure accuracy of member records in a diligent manner» Provide support and advice on insurance matters to Administrators;» Fortify working relationship with Fund s insurer, identify and resolve issues, implement process improvements and communicate innovative ideas. SECTION 7 COMPETENCY PROFILE Critical Competencies (skills, attitudes, abilities, motivations critical to successful performance)» Exceptional interpersonal skills with the drive and capacity to communicate positively to members and staff throughout all levels of an organization;» Excellent customer service skills with a demonstrated energetic and proactive approach to building and empowering people;» Strong negotiation, influencing and problem solving skills;» Strong administrative, data entry, report writing and organisational abilities;» Strong understanding of the legislative requirements; Position Description Plan Administration (Insurance) Page 6 of 8

7 » Highly computer literate (Particularly in Outlook, Word, Excel and Legrand CRM system, with ability to learn Legrand and Acurity Superannuation management system);» Outstanding people skills with a demonstrated energetic and proactive approach to building and empowering people;» Strong time management skills;» Demonstrated ability to deliver results in a flexible and unsupervised environment. Qualifications (formal, recognized qualifications/professional memberships)» Tertiary qualification in Business Management or related field;» RG 146 accredited for general superannuation advice or ASFA 100, Certificate IV Super Principles; (essential).» Diploma in Superannuation Management (desired but not essential);» Meet the fit and proper standard pursuant to the provisions of the Superannuation Industry (Supervision) legislation and board policy; and» Police Clearance. Experience (include area and level/significance of experience required)» Experience in financial services and/or an office environment (3-5 years);» Experience in the superannuation industry or insurance industry (3-5 years);» Experience with Microsoft Office Suite and CRM System (Intermediate Advanced);» Experience with writing policies and procedures (desirable). Knowledge (technical, management, industry/sector knowledge)» Intermediate Advanced working knowledge of Microsoft Word, Excel, PowerPoint and Outlook;» Intermediate working knowledge Adobe Acrobat;» Intermediate knowledge of Acurity, AOL and report writing functions;» Advanced working knowledge of CRM system;» Advanced knowledge of the Superannuation industry;» Knowledge and understanding of SIS, SG and other ASIC/APRA related Legislation;» Knowledge of insurance products, legislation and claims process;» Knowledge of technology as it relates to the industry. Position Description Plan Administration (Insurance) Page 7 of 8

8 SECTION 8 ACCEPTANCE OF POSITION DESCRIPTION Incumbent s signature Date Reporting Officer s signature Date Position Description Plan Administration (Insurance) Page 8 of 8