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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