Servicing Manager, Retirement Services - HOST

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GCB5 Servicing Manager, Retirement Services - HOST

The role of the Servicing Manager - WBS is to provide trustee, technical and administrative supervision of all aspects of the Group’s HNW Self Invested Personal Pension Scheme (SIPP) and Flexible Retirement Account (FRA) which is a subsidiary of the SIPP.

In this respect they will be responsible for providing administration duties, training and coach junior and new members of employees as well as daily oversight of the SIPP & FRA servicing administration tasks. You will need to carry out client service activities with HNW clients and their internal/external advisers providing technical guidance to enable their instructions to be carried out correctly and within the boundaries of legislation and HMRC and regulatory guidance.

Working closely with junior and new team members, coaching and training on role specific tasks, including but not restricted to; allocating work, checking calculations, signing off administration tasks and ensuring deadline and service levels are achieved. You will act as a signatory of the scheme in all respects of administration, from property documentation, investment application and payment mandates. You will be reviewing and enhancing procedures, whilst also identifying where new procedures and/or controls are required to amend the approach to working methodology.

You will be responsible for identifying and resolving risks within the business with an additional focus on situations to ensure the scheme remains compliant with HRMC and FCA rules and regulations. You will require knowledge of the FCA’s CASS Client Money, Client Assets and Mandate rules. You will also need to identify and promote recommendations for new initiatives to ensure future compliance and risk avoidance.

You must have a complete knowledge of the administrative and technical aspects of SIPP & FRA client service and administration.A broad level of technical knowledge which extends to potential investments including property, available to this scheme in the market place. You will be responsible for ensuring that both the administration and the actions taken on the scheme is in line with primary legislation and HMRC guidance.

This role requires a great level of inter-personal skill for managing expectations of HNW individuals and both internal and external stakeholders. Due to the nature of the role, it is essential that the successful candidate has a proven background in SIPP client service and administration and thorough knowledge of pension rules and regulations.

The role will require you to:

    Continually consider the FCA’s principle of ‘Treating Customers Fairly’ (TCF) and apply to all operational and marketing activities.

      Continually reassess the operational risks associated with the role that is inherent to the business, taking account legal and regulatory requirements, operating procedures and practices and the impact of new technology.

        Adhere to and be able to demonstrate adherence to internal controls.

          Manage, develop and retain employees in line with HSBC’s aspirations

            Take supervision of and liaison with the servicing team administrators – with particular reference to key regulatory and reputational risks and case specific technical issues.

              Identify, escalate and propose resolution of case specific technical issues that arise within the portfolio of SIPP & FRA to Head of Retirement Services, WBS. Where relevant managing the change to operational procedures reduce future risks.

                Ensure completion of key deliverables for the business throughout the year.

                  Assignment to lead projects within Retirement Services - WBS, alongside regular duties.

                    Propose technically sound and informed SIPP & FRA Death Benefit recommendations in readiness for approval to Head of Retirement Services - WBS

                      Provide pension technical and operational support to HNW customers and internal/external advisors.

                        Provide training & coaching to members of the servicing team, ensuring compliance with operational procedures.

                          Checking of all employees client correspondence and any calculations involved

                            Conduct line management responsibilities as directly assigned or delegated by the Head of Retirement Services - WBS.

                              As member of the Management Team, ensure all HMRC/FCA/TPR regulatory requirements reporting deadlines are met.

                                Continually consider and implement such enhancements in practice to fully meet the FCA’s principle of ‘Treating Customers Fairly’ (TCF) & CASS regulations

                                  Continually reassess the operational risks associated with the role and inherent in the business, taking account of legal and regulatory requirements, operating procedures and practices and the impact of new technology

                                    Devise/implement procedures and policies which ensure effective communication.