- Entry level
- No Education
- Salary £45,099.00 - £52,615.00 gross per year
The purpose of this role is to lead the operational oversight of Master Trust (MT) administration and associated reporting requirements to key stakeholders.At Lloyds Banking Group, we're driven by a clear purpose - to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. And as the UK's largest retail and commercial bank, we have a footprint that touches nearly every community and household in the UK.
Insurance and Wealth helps around 10 million customers with their long-term protection, retirement and investment needs. We operate through our well-recognised brands, including Scottish Widows for life, pensions and investments. Our Insurance business is one of the largest in the UK, and we have a strong heritage, helping our customers every day with their diverse and critical needs.
In 2018 Scottish Widows won 5 stars at the Financial Adviser Service Awards across all three categories - Life and Pensions, Investments and Mortgages - for the third year in a row.
Scottish Widows Workplace Savings (SWWS) is shaping the future of workplace savings to help people make the most of their retirement. Our ambition is to be a market leading UK workplace savings and corporate pension business.
We are currently looking for an experienced professional to join this team as a Master Trust Technical Lead.
In this role you'll lead the operational oversight of Master Trust (MT) administration and associated reporting requirements to key stakeholders, ensuring the MT schemes are administered in line with Pension Regulator (TPR) and Scottish Widows Master Trust (SWMT) Service Agreement requirement. You'll also support broader oversight of regulatory activity under TPR for our corporate pensions activity.
Your accountabilities will include:
- Provide Stakeholders (SWMT Trustees; MT Strategist Committee, Head of Propositions; Head of Operations; LBG Regulatory Liaison etc.) with necessary updates, reporting and papers as required to support regular governance routines and ad hoc reporting as required.
- Provide oversight of SWMT administration processes to ensure they comply with TPR and SWMT Service Agreement requirements.
- Work with Propositions, Operations and Risk to identify any emerging risks in respect of SWMT administration; and define and oversee the implementation of associated actions plans to address any unacceptable risks.
- Facilitate discussion between SWMT and MT Strategist Committee regarding system and process enhances to support the development of the SWMT.
- Collate reporting from Scottish Widows Workplace Savings (SWWS) Operations and provide associated narrative to support SWMT governance routines, including (but not limited to) papers for quarterly SWMT Board; monthly operational reporting and ad hoc updates as required to key stakeholders.
- Work with Operations, Propositions and Distribution to ensure appropriate action is taken to address any issues in respect of SWMT schemes where employers are not meeting their obligations (e.g. late payment reporting and contribution monitoring) and to provide associated reporting to key stakeholders on action taken and escalate where required.
- To support the timely reporting of any notifiable events to SWMT Trustees, and support the associated narrative and actions to address any events.
- Support upskilling of SWWS colleagues relating to the Master Trust authorisation requirements and facilitate the annual review of the MT 'Systems and Processes' questionnaire.
- Provide oversight and support for other TPR related regulatory activity conducted across the Edinburgh and Cheltenham corporate pension teams
You'll need to have proven knowledge and experience of Master Trust scheme processes and associated Pension Regulator regulations.
You'll also need to have APMI or PRINCE 2 Project Management (or equivalent ) qualification, plus have strong proven experience in internal and External Stakeholder management.
So join us and be part of an inclusive, values-based culture focused on making a difference. Whatever your aspiration, you can also expect excellent benefits, including performance-related bonus, car allowance, private health cover, share schemes and a generous pension contribution, along with the option to choose an additional cash lump sum or pick from a wide range of industry leading benefits.
We support the principles of agile working and will be pleased to consider applications from candidates seeking flexible working arrangements.
Together we make it possible - join us and you'll be part of an organisation that values your contribution and empowers you to make a difference.
- ms project