Primary Purpose of the Job
At BDO, we believe in investing in our people to help them grow, both professionally and personally. The foundation of our business is strong relationships, with colleagues, clients, and other stakeholders, and we work hard every day to make this a reality. Our commitment is to create unlimited growth by giving our people continuous opportunities and our client's unparalleled support.
BDO's global organisation extends across 164 countries and territories, with 111,307 people working out of 1,803 offices – and we're all working towards one goal: to provide our clients with exceptional service. Our firms across the organisation cooperate closely and comply with consistent operating principles and quality standards.
BDO South Africa has a vacancy for an Employee Benefits Consultant in our Cape Town offices, reporting to the Director of Employee Benefits.
Main Duties and Responsibilities:
Key Performance Areas:
Annual Review of scheme benefits
Advise clients on appropriate benefits in line with market and Clients Industry
Obtain quotes from the marketplace and conduct full costing and benefit analysis
Audit the current benefits to specific industry including costs
Processing of Scheme
Installations and amendments to benefits within required Service Level Agreements (SLA's)
Maintain fund and risk rules
Ensure that risk and retirement data tie up to rules
Obtain investment strategy document
Prepare member communication
Submit to insurer
New entrant/existing client communication packs
Board of Management Meetings
Take, type and send minutes to clients
Setting annual dates for Board of Management meetings with clients and all participants
Action all items from minutes
Provide Board training as and when required
Monitor and ensure risk benefits are structured correctly
Member communication on change of benefits
Investments
Monitor investment performance against peer benchmark as well as costs and appropriate investment strategy
Ensure that investment strategy has been implemented as per instructions from Board
Ensure switch forms are completed correctly and processed
Member Communication
Ensure member booklet is accurate
Ensure accuracy of benefit statements
One-on-one retirement planning & member education
Daily Client Maintenance/Service
Issuing standard documents, such as quarterlies, surveys, legal updates etc. timeously to clients
Prepare and manage reports and documents
Follow up queries and resolve problems of clients, members, and pensioners
Provide advice pertaining to employee benefits, risk, governance and compliance, investments, legislation and pending changes which could impact on each particular benefit programme
Best Practice
Maintain expected performance standards each month, ensuring adherence to required monthly recons, timekeeping, and attendance standards
Ensure accuracy and completeness of all tasks performed within service level agreement
Regular client interaction in a professional and effective manner on both verbal and written communication
Perform additional ad-hoc tasks as and when required across the client service centre to meet commitments made to clients
Remain abreast of new innovations and technologies in the industry
Contribute towards team efficiency and team dynamics/spirit
Development of knowledge of the employee benefits industry and investment matters
Acquaint oneself with relevant legislation i.e. Pension Funds Act, Taxation, FAIS Act etc.
Qualifications, Experience, Knowledge and Skills:
Qualifications:
RE5 and FSP Approved licensed Representative in the following categories:
Long Term Category
Retail Pension Benefits
Pension Funds Benefits
Collective Investment Schemes
CFP or similar qualifications / NQF level 5 minimum
Experience:
3 or more years consulting experience in Employee Benefits
Competencies: Knowledge and Skills:
Behavioural Competencies:
Good verbal/written communication skills
Building trust and relationships
Fostering collaborative teamwork
Professionalism
Strong client orientation
Attention to detail
Ability to prioritise and handle stress
Creative yet organised
Task-driven & delivery-focused
Socially aware and able to work as part of a diverse team
Innovative and willing to share ideas for new ways of working
Ability to work with all levels within an organisation
BDO Core Competencies:
In line with BDO's philosophy REACT
Other:
Innovative positive and enquiring mindset
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