Principal Administrator, Treasury & Payroll | Liverpool, UK
Full-time
Mid
Description
Principal Administrator, Treasury & Payroll
Job Description
Overview
Responsible for high quality, accurate and timely standards, fully compliant with legislative requirements and the policy conditions or rules governing each of the products or schemes. This role will carry out the full range of administrative tasks within their team, as required for the specific products or schemes. They will assist the Team Manager with work prioritisation. In addition, the individual will check the work of peers and other administrative staff, assisting the Team Manager with the coaching and development of team members.
The role holder will contribute to the profitability of the business by identifying and capitalising on commercial opportunities to generate additional fees for work requested and carried out outside of the standard agreements in place.
They may also deputise for the Team Manager.
Key Accountabilities and main responsibilities
Operational Management
• As a subject matter expert, process complex member and scheme level tasks:
• Using technical knowledge, experience and initiative
• Working autonomously and proactively to ensure agreed service standards, policy conditions, legislative deadlines and quality standards are met or exceeded
• Adhering to current procedures and corporate style
• Performing a quality control function on work completed by peers or less experienced members of the team, taking full responsibility for sign-off of the work
• Attending meetings both internally and externally representing own service area, either on own or supported by a more senior member of staff.
• Deal directly with scheme trustees, scheme members, other 3rd party trustee advisers, sponsoring employers, government regulatory bodies using technical knowledge and experience to ensure effective, accurate and timely communication is achieved.
• Prioritise and plan own / team work
• Identifying and communicating potential bottlenecks/problem areas to line manager with appropriate solutions
• Identifying any chargeable work falling outside agreements in place and preparing estimates of charges for authorisation by line manager or communicating that the work cannot be completed, as appropriate.
• Participate in team and business projects to achieve business goals.
• Collaborate with the wider business teams as required to ensure governance aspects are consistently integrated
• Actively coach and mentor less experienced members of the team, acting as a point of reference
• Maintain a comprehensive level of functional and technical expertise in all Treasury and Payroll functions
• Deputise for Team Manager in their absence
Governance & Risk
• Peer review completion of Accounting for Tax Returns and Annual TRAFS to HMRC within in deadlines given, assisting Team Manager
• Ensure accuracy in preparation of quarter end and year financial reports
• Leverage expertise to ensure that regulatory frameworks and compliance requirements are met, with adequate controls in place
• Ensure accurate completion of Office of National Statistics forms, Asset Transfer reconciliations and other more complex reconciliations
• Oversee maintenance of the monthly payroll schedule, ensuring compliance will all processes and sign off monthly payrolls for transmission by the due date, including running of all necessary reports and control totals where necessary
• Maintain a thorough understanding of scheme specific rules as they impact on the individual payrolls processed. Oversee the checking and input of daily notifications for amendments received by post/RTI e.g. tax code changes, bank changes etc and all relevant queries.
• Have a hands on role, and manage the payroll implications in the project to migrate all schemes to a new administration platform
• Oversight on the process covering year-end reports and production of P60's, including submission to HMRC
• Monitor the production of payslips and Certificates of Existence as required. Transmit PAYE to HMRC by the due date. Check data received from the Audit Commission's National Fraud Initiative.
• Review and manage, together with the Team Manager, BACS limits across all appropriate client bank accounts
• Work with the various teams to sign off processes and associated testing material
• Work with industry bodies to share and gather best practice principles
• Report any suspected breaches of regulations or administrative errors to Senior Management and Compliance Teams immediately on discovery
The above list of key accountabilities is not an exhaustive list and may change from time-to-time based on business needs.
Experience & Personal Attributes
• Technical Pension Accounting and Payroll expertise
• 5+ years' experience of Pension Scheme Accounting and Payroll functions - essential
• Customer focus and ability to deal appropriately with customer enquiries
• Excellent written and verbal communication skills, with the ability to communicate at all levels and tailor style to suit various audiences, with attention to detail
• Strong planning and organisation skills with the ability to manage conflicting priorities
• Excellent occupational pensions legislative and regulatory knowledge
• Understanding contractual terms of each scheme or product
• Detailed knowledge and proven experience of the full range of service team related activities, processes and procedures
• Relationship and stakeholder management skills
• Proficient in the specialised area of Pension Scheme Accounting and Payroll
• Ability to build and develop relationships
• Professional qualification for the role undertaken, or progressing towards such qualifications (FPC, PMI, QPA, IPP, ACCS, CIMA etc) is highly advantageous
About Us
MUFG Pension & Market Services is a global, digitally enabled business that empowers a brighter future by connecting millions of people with their assets - safely, securely and responsibly.
Through our two businesses MUFG Retirement Solutions and MUFG Corporate Markets, we partner with a diversified portfolio of global clients to provide robust, efficient and scalable services, purpose-built solutions and modern technology platforms that deliver world class outcomes and experiences.
A member of MUFG, a global financial group, we help manage regulatory complexity, improve data management and connect people with their assets, through exceptional user experience that leverages the expertise of our people combined with scalable technology, digital connectivity and data insights.
About the Team
Our MUFG Retirement Solutions division combines its proprietary technology, process and people to deliver a comprehensive financial data solution to its superannuation clients. We support clients across all superannuation fund sectors including government, industry, retail and corporate.
By accompanying our core member and employer administration with a full range of value-added services, we offer the most comprehensive superannuation administration solution on the market. The scale, adaptability and ease of use of our proprietary systems, in conjunction with our integrated analytics offering, allow us to innovate and grow with the needs of our clients.
MUFG Pension & Market Services is building a dynamic, client focused, caring and inclusive culture that is built on the foundations of an entrepreneurial spirit, effective risk management, empathy and trust, and underpinned by its core values.
We are an inclusive employer whose people work collaboratively. We encourage, support and value the various talents and perspectives of our people and promote a flexible and blended work environment where our people can thrive and their wellbeing is supported. We know that diversity drives better client outcomes, continuous improvement, and growth. Be part of the MUFG Pension & Market Services journey and together we will achieve our full potential.
We treat all individuals fairly and equitably and do not discriminate on the basis of diverse characteristics including, but not limited to gender, gender identity, sexual orientation, age, ethnicity, cultural background, physical abilities/disabilities, religious or political belief, marital or family status or carers responsibilities.
Candidates must have the relevant work rights to be considered for an opportunity at MUFG Pension & Market Services. Successful applicants will be required to complete background screening prior to commencement of employment.
Job Description
Overview
Responsible for high quality, accurate and timely standards, fully compliant with legislative requirements and the policy conditions or rules governing each of the products or schemes. This role will carry out the full range of administrative tasks within their team, as required for the specific products or schemes. They will assist the Team Manager with work prioritisation. In addition, the individual will check the work of peers and other administrative staff, assisting the Team Manager with the coaching and development of team members.
The role holder will contribute to the profitability of the business by identifying and capitalising on commercial opportunities to generate additional fees for work requested and carried out outside of the standard agreements in place.
They may also deputise for the Team Manager.
Key Accountabilities and main responsibilities
Operational Management
• As a subject matter expert, process complex member and scheme level tasks:
• Using technical knowledge, experience and initiative
• Working autonomously and proactively to ensure agreed service standards, policy conditions, legislative deadlines and quality standards are met or exceeded
• Adhering to current procedures and corporate style
• Performing a quality control function on work completed by peers or less experienced members of the team, taking full responsibility for sign-off of the work
• Attending meetings both internally and externally representing own service area, either on own or supported by a more senior member of staff.
• Deal directly with scheme trustees, scheme members, other 3rd party trustee advisers, sponsoring employers, government regulatory bodies using technical knowledge and experience to ensure effective, accurate and timely communication is achieved.
• Prioritise and plan own / team work
• Identifying and communicating potential bottlenecks/problem areas to line manager with appropriate solutions
• Identifying any chargeable work falling outside agreements in place and preparing estimates of charges for authorisation by line manager or communicating that the work cannot be completed, as appropriate.
• Participate in team and business projects to achieve business goals.
• Collaborate with the wider business teams as required to ensure governance aspects are consistently integrated
• Actively coach and mentor less experienced members of the team, acting as a point of reference
• Maintain a comprehensive level of functional and technical expertise in all Treasury and Payroll functions
• Deputise for Team Manager in their absence
Governance & Risk
• Peer review completion of Accounting for Tax Returns and Annual TRAFS to HMRC within in deadlines given, assisting Team Manager
• Ensure accuracy in preparation of quarter end and year financial reports
• Leverage expertise to ensure that regulatory frameworks and compliance requirements are met, with adequate controls in place
• Ensure accurate completion of Office of National Statistics forms, Asset Transfer reconciliations and other more complex reconciliations
• Oversee maintenance of the monthly payroll schedule, ensuring compliance will all processes and sign off monthly payrolls for transmission by the due date, including running of all necessary reports and control totals where necessary
• Maintain a thorough understanding of scheme specific rules as they impact on the individual payrolls processed. Oversee the checking and input of daily notifications for amendments received by post/RTI e.g. tax code changes, bank changes etc and all relevant queries.
• Have a hands on role, and manage the payroll implications in the project to migrate all schemes to a new administration platform
• Oversight on the process covering year-end reports and production of P60's, including submission to HMRC
• Monitor the production of payslips and Certificates of Existence as required. Transmit PAYE to HMRC by the due date. Check data received from the Audit Commission's National Fraud Initiative.
• Review and manage, together with the Team Manager, BACS limits across all appropriate client bank accounts
• Work with the various teams to sign off processes and associated testing material
• Work with industry bodies to share and gather best practice principles
• Report any suspected breaches of regulations or administrative errors to Senior Management and Compliance Teams immediately on discovery
The above list of key accountabilities is not an exhaustive list and may change from time-to-time based on business needs.
Experience & Personal Attributes
• Technical Pension Accounting and Payroll expertise
• 5+ years' experience of Pension Scheme Accounting and Payroll functions - essential
• Customer focus and ability to deal appropriately with customer enquiries
• Excellent written and verbal communication skills, with the ability to communicate at all levels and tailor style to suit various audiences, with attention to detail
• Strong planning and organisation skills with the ability to manage conflicting priorities
• Excellent occupational pensions legislative and regulatory knowledge
• Understanding contractual terms of each scheme or product
• Detailed knowledge and proven experience of the full range of service team related activities, processes and procedures
• Relationship and stakeholder management skills
• Proficient in the specialised area of Pension Scheme Accounting and Payroll
• Ability to build and develop relationships
• Professional qualification for the role undertaken, or progressing towards such qualifications (FPC, PMI, QPA, IPP, ACCS, CIMA etc) is highly advantageous
About Us
MUFG Pension & Market Services is a global, digitally enabled business that empowers a brighter future by connecting millions of people with their assets - safely, securely and responsibly.
Through our two businesses MUFG Retirement Solutions and MUFG Corporate Markets, we partner with a diversified portfolio of global clients to provide robust, efficient and scalable services, purpose-built solutions and modern technology platforms that deliver world class outcomes and experiences.
A member of MUFG, a global financial group, we help manage regulatory complexity, improve data management and connect people with their assets, through exceptional user experience that leverages the expertise of our people combined with scalable technology, digital connectivity and data insights.
About the Team
Our MUFG Retirement Solutions division combines its proprietary technology, process and people to deliver a comprehensive financial data solution to its superannuation clients. We support clients across all superannuation fund sectors including government, industry, retail and corporate.
By accompanying our core member and employer administration with a full range of value-added services, we offer the most comprehensive superannuation administration solution on the market. The scale, adaptability and ease of use of our proprietary systems, in conjunction with our integrated analytics offering, allow us to innovate and grow with the needs of our clients.
MUFG Pension & Market Services is building a dynamic, client focused, caring and inclusive culture that is built on the foundations of an entrepreneurial spirit, effective risk management, empathy and trust, and underpinned by its core values.
We are an inclusive employer whose people work collaboratively. We encourage, support and value the various talents and perspectives of our people and promote a flexible and blended work environment where our people can thrive and their wellbeing is supported. We know that diversity drives better client outcomes, continuous improvement, and growth. Be part of the MUFG Pension & Market Services journey and together we will achieve our full potential.
We treat all individuals fairly and equitably and do not discriminate on the basis of diverse characteristics including, but not limited to gender, gender identity, sexual orientation, age, ethnicity, cultural background, physical abilities/disabilities, religious or political belief, marital or family status or carers responsibilities.
Candidates must have the relevant work rights to be considered for an opportunity at MUFG Pension & Market Services. Successful applicants will be required to complete background screening prior to commencement of employment.