Pension & Benefits Specialist

Job Title : Pension & Benefits Specialist

Location: Chennai

About Barclays

Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

Risk and Control Objective

Take ownership for managing risk and strengthening controls in relation to the work you do

Working Flexibly

We're committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business. Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers' and clients' needs. Whether you have family commitments or you're a carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life. If you would like some flexibility, then please discuss this with the hiring manager, and your request will be reviewed subject to business needs.

Hybrid Working

Structured Hybrid Role

At Barclays, we offer a hybrid working experience that blends the positives of working alongside colleagues at our onsite locations, together with working from home. We have a structured approach where colleagues work at an onsite location on fixed, 'anchor', days of the week, for a minimum of two days a week or more, as set by the business area (or nearest equivalent if working part-time hours). Please discuss the working pattern requirements for the role you are applying for with the hiring manager. Please note that as we continue to embed our hybrid working environment, we remain in a test and learn phase, which means that working arrangements may be subject to change on reasonable notice to ensure we meet the needs of our business.

Introduction

The role holder will have responsibility for the performance, governance and administration of the pensions provisions of the organisation to produce an efficient service and delivery solution, maximising efficiency and performance of the defined benefit and contribution schemes in India. The remit of the role will be across all locations and all legal entities within India.

What will you be doing

Oversee day-to-day pension management and the administration of funds, assist in development of the pensions policies, review and discuss pensions structure with the trustees, group pensions team, investment managers and other advisers.

Maintain and improve mechanisms for the provision of pensions, including surveying and measuring the governance, performance, administration and outcomes and disseminate feedback to the appropriate persons/entities.

To ensure HR Leaders have an effective oversight that monitors the defined benefit (DB) plans anf defined contribution plans (DC) through thirdparty administrators, pension adminsitrators and committees, and address associated issues and queries received from all sources.

Support the HR leaders in their strategic advise to the Trustees of the Gratuiity and Provident fund Schemes in India.

Act as the Scheme Secretary to the Schemes

Administer all meetings of the Pension Scheme Trustees including any Board and sub-committees.

Prepare agendas and all relevant documentation for meetings and ensure they are well structured, accurate and are available in advance each meeting.

Support the Chair in ensuring that meetings are conducted efficiently and effectively.

Attend all meetings and ensuring that appropriate advisers and service providers are also in attendance so that each committee receives appropriate advice to enable Trustees to make informed decisions.

Producing timely and appropriate minutes of meetings and ensuring that any follow up work arising from meetings are actioned.

Ensure Trustees have adequate knowledge and understanding of the Scheme and to arrange appropriate Trustee training as required.

Ensure the provision of appropriate, reliable, and timely information to the Pension Scheme Trustees to enable them to fulfil their responsibilities. Including, but not exclusively, legal, statutory, investment performance, and financial information.

Responsible for the maintenance of proper actuarial, and/or relevant financial records, designing and verifying adequate controls and appropriate information databases.

Ensure statutory accounts and other statutory information is provided in a prompt and accurate manner. This includes managing the Scheme audit as well.

Ensure all Scheme Members (contributing, deferred, pensioners) are provided with information, which is compliant with the relevant disclosure regulations and, where possible, meets 'best practice' criteria.

Provide a user-friendly information support service to Scheme Members.

Act as principal contact with the Scheme Actuaries, Legal Advisors, Investment Advisors, Fund Managers, and Auditors.

Ensure accuracy and timely reporting (content and format as agreed) on a regular basis or as otherwise required by local or Group HR, finance and other teams.

Maintain responsibility for performing all duties in compliance with related legal/statutory regulations, professional duties, responsibilities and obligations.

Responsible for design, implementation and administration of employee benefit programmes across all locations and entities in India.

Responsible for all colleague communication material, working in conjunction with the plan administrators and the internal communication teams.

Ensure all ad hoc duties pertaining to the Scheme are delivered, as required.

Expect to be part of special projects as are reasonably required of your job role, from time to time

Responsible for reporting and governance of the employee pay allowances in India.

Support the India benefit lead in day to day India pension and benefits related operational requirements and queries.

What We're Looking For

Experience in managing benefits in a fast-paced organisation and building successful collaborative relationships at all levels, with a focus on responding positively to a constrantly changing environment and competitive local landscape.

Demonstrable ability to manage complex vendor relationships

Good Analytical and Problem Solving ability

Shows understanding and sensitivity to diversity,great Interpersonal skills

Able to consistently demonstrate integrity, initiative and commitment to the business combined with outstanding project management, budgeting and prioritisation skills

Demonstrated abilityto influence and partner with a diverse and global team in a highly matrixed structure

Skills That Will Help You In The Role

Degree in business, HR or related field

Demonstrable practical experience of administering a small, or medium-sized pension scheme.

Sound up to date technical knowledge of pensions, regulatory developments, and requirements is essential.

Excellent written and verbal communication skills

Good knowledge of social security related legislations & employment laws.

Advanced user of Microsoft office, Word, Excel and Powerpoint.

Strong Stakeholder Management skills

Strong attention to detail

A team player and flexible in terms of working hours.

Worked in HR, Reward or benefits function managing in a regulated PLC environment

Possess a professional membership or have an equivalent HR experience with knowledge of benefit practices

Ability to develop multi-year road map for Benefit plan design and delivery with continuous cycles of Improvement

Proven ability to implement and automate processes; to develop ad-hocreporting to meet specific business needs and inquiries

Strong data analysis skills to make data-backed decisions

Capability to execute change management seamlessly.

Where will you be working

Chennai

Be More at Barclays

At Barclays, each day is about being more – as a professional, and as a person. 'Be More @ Barclays' represents our core promise to all current and future employees. It's the characteristic that we want to be associated with as an employer, and at the heart of every employee experience. We empower our colleagues to Be More Globally Connected, working on international projects that improve the way millions of customers handle their finances. Be More Inspired by working alongside the most talented people in the industry, and delivering imaginative new solutions that are redefining the future of finance. Be More Impactful by having the opportunity to work on cutting-edge projects, and Be More Valued for who you are.

Interested and want to know more about Barclays Visit home.barclays/who-we-are/ for more details.

Purpose, Values and Mindset

We deploy finance responsibly to support people and businesses, acting with empathy and integrity, championing innovation and sustainability, for the common good and the long term.

Our values underpin everything we do: Respect, Integrity, Service, Excellence and Stewardship.

Respect

We harness the power of diversity and inclusion in our business, trust those we work with, and value everyone's contribution.

Integrity

We operate with honesty, transparency and fairness in all we do.

Service

We act with empathy and humility, putting the people and businesses we serve at the centre of what we do.

Excellence

We champion innovation, and use our energy, expertise and resources to make a positive difference.

Stewardship

We prize sustainability, and are passionate about leaving things better than we found them.

Our Mindset shapes how we take action, living by our Values, driven by our Purpose, always with our customers and clients at the heart of what we do; our Mindset is to Empower, Challenge and Drive.

Empower

Trust and support each other to deliver. Make decisions with those closest to the topic. Include diverse perspectives. Celebrate success and learn from failure.

Challenge

Question whether things can be done better. Use insights based on data to inform decisions. Be curious about how we can adapt and improve. Speak up and be open to alternative viewpoints.

Drive

Focus on outcomes. Deliver with pace. Be passionate and ambitious about what we do. Take personal responsibility. Actively build collaborative relationships to get things done.

Full time