The duties and responsibilities:
Complaints Management:
Develop, implement, and maintain a robust complaints management framework in line with FSCA regulations and industry best practices.
Receive, log, and categorize complaints from retirement fund members, beneficiaries, employers, or other stakeholders.
Investigate complaints thoroughly, liaising with internal departments (e.g., administration, legal, investments) and external parties (e.g., employers, service providers) as needed.
Ensure complaints are resolved within prescribed timelines as per regulatory requirements and internal SLAs.
Provide clear, fair, and accurate responses to complainants, ensuring alignment with TCF principles.
Investigations and Financial Rectification:
Conduct detailed investigations into complaints or data anomalies that have come to the attention of the employee benefits team, identifying errors or discrepancies that have caused financial loss to members.
Perform calculations to determine the correct financial position of members, including adjustments for contributions, investment returns, benefits, or other entitlements.
Recommend and implement corrective actions to restore members to their rightful financial position, ensuring accuracy and fairness.
Identify the cause of the discrepancy and whether a change in process, training of relevant stakeholders or disciplinary action is required or warranted.
Document all investigation findings, calculations and conclusions for transparency and audit purposes.
Regulatory Compliance:
Ensure all complaints processes, investigations, and financial rectifications comply with the Pension Funds Act, FSCA Conduct Standards, and other relevant legislation.
Prepare and submit complaints-related reports to the FSCA and other regulatory bodies as required.
Stay updated on changes in legislation, regulations, and industry trends affecting retirement funds and complaints management.
Stakeholder Engagement:
Act as the primary point of contact for complainants, ensuring professionalism and empathy in all interactions.
Liaise with the Pension Funds Adjudicator, FSCA, and other external bodies when complaints escalate.
Collaborate with internal teams to address systemic issues identified through complaints and investigations.
Data Analysis and Reporting:
Maintain accurate records of all complaints, investigations, calculations, and resolution outcomes.
Analyse complaint trends to identify recurring issues and recommend process improvements.
Prepare regular reports for senior management and the Boards of Trustees on complaints performance, trends, financial rectifications, and risks.
Training and Awareness:
Train staff on complaints handling procedures, investigation techniques, and TCF principles to enhance customer service standards.
Promote a customer-centric culture within the organisation.
Risk Management:
Identify potential risks arising from complaints or financial errors and escalate issues that may impact the organisation’s reputation or compliance.
Implement measures to mitigate risks and prevent recurrence of issues.
Role Qualifications and Experience:
Bachelor’s degree in Law, Business Administration, Finance, Actuarial Science, or a related field is advantageous.
A postgraduate qualification or certification in Compliance, Retirement Fund Management, or Dispute Resolution is advantageous.
Minimum of 5 years’ experience in a complaints management, compliance, or customer service role, preferably within the retirement fund or financial services industry.
Proven experience in conducting investigations and performing financial calculations to rectify member losses in a retirement fund or similar financial context.
Experience working with regulatory bodies such as the FSCA or Pension Funds Adjudicator is highly desirable.
Knowledge: In-depth understanding of the South African retirement fund industry, including the Pension Funds Act and FSCA regulations.
Familiarity with TCF principles and their application in financial services.
Strong knowledge of financial calculations related to retirement fund contributions, benefits, and investment returns.
Knowledge of dispute resolution processes and principles.
Skills and Competencies
Technical Skills: Strong analytical and problem-solving skills to investigate complaints and perform accurate financial calculations.
Proficiency in complaints management systems, financial modeling tools, and MS Office (Excel, Word, PowerPoint).
Ability to interpret and apply regulatory requirements and perform complex calculations to rectify financial errors.
Interpersonal Skills:
Excellent communication skills (written and verbal) to interact with diverse stakeholders.
High emotional intelligence and empathy to handle sensitive member complaints.
Strong negotiation and conflict resolution skills.
Personal Attributes:
Detail-oriented with a commitment to fairness, accuracy, and transparency.
Ability to work under pressure and manage multiple complaints and investigations simultaneously.
Proactive and solution-oriented mindset.
High ethical standards and integrity.
Key Performance Indicators (KPIs)
Timely resolution of complaints within regulatory and internal SLA timeframes (e.g., 30 days as per FSCA guidelines).
Accuracy of investigations and calculations to restore members to their correct financial position.
Positive feedback from complainants on resolution process and outcomes.
Reduction in recurring complaints through identification and resolution of systemic issues.
Accurate and timely submission of regulatory reports.
Effective collaboration with internal and external stakeholders to resolve complaints.
Working Conditions: Standard office hours with occasional after-hours work to meet deadlines or handle urgent complaints.
May require travel for meetings with stakeholders or regulatory bodies.
Hybrid work may be considered, depending on organisational policies.
Regulatory Requirements: Must be a fit and proper person as per FSCA requirements.
Compliance with continuous professional development (CPD) requirements, if applicable.
FOR MORE INFORMATION:
Email: recruit@sygnia.co.za
Should you not hear back from us in 14 days, please consider your application unsuccessful.
Disclaimer:
Please be advised that your personal information shared on your resumes will only be used as part of the Sygnia recruitment process for the role applied for. It will not be shared with any third parties for any other reason.