Fund Administration Officer

Summary

To provide administrative support for the management of all Mutual Funds, Unit Trust, Pooled Funds and Other Arrangements administered by JMMB or its related entities

Responsibilities

LIASE WITH: Internally 📞 General Manager - Client Partnership 🕒Frequency & How: As needed, via telephone, in writing, and in person 💬Reason: Escalate issues, get authorization for using exceptional rates, request signatures for documents, and receive general guidance on delivering financial planning advisory services. 🏦 Manager - Client Partnership (Bank) and FLG Manager 🕒Frequency & How: Daily, via telephone, in writing, and in person 💬Reason: Escalate issues, get authorization for using exceptional rates, request signatures for documents, and receive general guidance on delivering financial planning advisory services. 💼 Other FLGC Team Members 🕒Frequency & How: Daily, via telephone, in writing, and in person 💬Reason: Facilitate or expedite client transaction requests. 💰 Treasury (Department) 🕒Frequency & How: Daily, via telephone, in writing, and in person 💬Reason: Facilitate or expedite client transaction requests (e.g., breaking accounts, changing tenure, rates, forward contracts). 📋 Credit Admin 🕒Frequency & How: Daily, via telephone, in writing, and in person 💬Reason: Facilitate loan processing (LU, disbursement, loan closure, etc.). ⚖️ Credit Risk Management (CRM) 🕒Frequency & How: Daily, via telephone, in writing, and in person 💬Reason: Support adjudication and debt recovery. 🔄 Central Operations Department 🕒Frequency & How: Daily, via telephone and in writing 💬Reason: Facilitate wire transfer inquiries, follow up on client requests, etc. 📝 Compliance 🕒Frequency & How: As needed, via telephone and in writing 💬Reason: Provide additional due diligence. ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ As Financial Partnership Officer (FPO) at JMMB, there are several key competencies that are important for success in this role. These include: 📊 Financial Analysis ✅Analyzing financial statements, assessing creditworthiness, and evaluating potential clients' financial health. ✅Understanding financial ratios, conducting cash flow analysis, and assessing risk. 🤝 Relationship Building ✅Building and maintaining relationships with clients, partners, and stakeholders through effective communication, networking, and interpersonal skills. 💼 Sales and Business Development ✅Identifying new business opportunities and expanding JMMB's client base through strong sales and negotiation skills. ✅Lead generation, prospecting, and negotiation to achieve targets and drive growth. 💡 Financial Products and Services Knowledge ✅In-depth knowledge of various financial products and services offered by JMMB, including credit facilities, investment products, and other banking solutions. ✅Understanding of JMMB's CRM policies and procedures. ⚖️ Compliance and Risk Management ✅Ensuring compliance with regulatory requirements and adherence to internal and regulatory policies and procedures to mitigate risks. 🤝 Teamwork and Collaboration ✅Collaborating with colleagues and cross-functional teams within JMMB to achieve collective goals and ensure cohesiveness. 📈 Industry and Market Knowledge ✅Staying updated with industry trends, market conditions, and the competitive landscape to provide valuable insights and guidance. 💻 Technology and Digital Literacy ✅Proficiency in using banking and investment software, digital tools, and financial technology platforms to enhance processes and customer experience in the digital landscape. ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖ ➖

• JMMB RS Corporate:

  • • Monitor contribution email on a daily basis.
  • • Reconcile contributions received for corporate clients against listings; where there are discrepancies, perform relevant investigations.
  • • Perform daily reconciliation of the JMMB Bank Settlement Account and other bank accounts.
  • • Liaise with Bank Recon/CP in verifying banking confirmations for further credit to members' corporate Savesmart accounts – Provide monthly report of outstanding contributions.
  • • Follow up with Transfer Value In and obtain relevant documentation from each respective institution.
  • • Respond to ongoing queries from members, employers, and pensioners.

• JMMB RS Retail:

  • • Assist with the preparation of Retirement Benefit Payouts.
  • • Monitor and execute members' requests via the pension online portal in accordance with the established Service Level Agreement.
  • • Follow up with Retirement quotations, notify CROs, and liaise with clients to ensure completeness.
  • • Assist with processing and execution of leavers’ requests, which includes – Preparing and distributing packages relating to death, transfer, retirement, or refund to members and/or Trustees.

• Superannuation Plans/Schemes:

  • • Assist with the preparation and distribution of Annual Benefit Statements.
  • • Arrange annuity payments for new and existing pensioners.
  • • Support the review of transactions initiated on Pension Master Online (PMO) for execution in Work Manager (e.g., switches, updates).
  • • Collate information to support the administrator in the preparation of internal and external, regulatory and non-regulatory reports – such as reports to Tax Administration Jamaica (TAJ), Annual Reports (Actuarial Valuation Data), Trustee quarterly reports, and FSC’s Certified Financial Report.
  • • Generate members' data for review by the Senior Administrator and subsequent submission to the FSC and TAJ for each pension plan according to its respective year-end.
  • • Update fund pension systems with new enrolments, update requests, and transfer details from external providers on behalf of existing members.
  • • Address questions or concerns from Members/Trustees.
  • • Maintain a log of client issues, maintaining a registry of actions taken and obligations to be met – reporting periodically to the company head on action taken.
  • • Draft third-party correspondence for review by relevant senior officers.
  • • Assist with the movement of documents to facilitate and/or obtain authorised signatures.
  • • Act as relief for the Fund Administrator when necessary.

• General:

  • • Solicit retirement quotations from insurance companies and/or actuarial firms.
  • • Liaise with insurance providers regarding confirmation of payment to retirees.
  • • Provide support at seminars/functions structured to promote Fund Services or the product solutions offered by JMMB.
  • • Perform any other duties, which may be assigned from time to time.
  • • Promote the JMMB’s philosophy of the Vision of Love and its unique culture.
  • • Be engaged in the transformation process for the continuous improvement of the JMMB and its associated companies.

Required Skills

• • Proficiency in oral and written communication.
• • Good level of proficiency in the use of computer, particularly spreadsheets.
• • Proficiency in filing and record keeping
• • Good research, analytical and presentation skills.
• • High level of interpersonal skills.
• • Detail oriented

Qualifications

• • First Degree in Management Studies, Business Administration, or related filed.
• • At least two (2) years’ work experience in a similar capacity.
• • The Jamaican Securities Course would be a distinct asset
• • Basic knowledge of the statutory regulations and Acts governing the operations, namely the Pension Act and Regulations, Money Laundering Act, Companies Act, Financial Institutions Act, and all other Acts governing the Financial Services Sector.

Additional Information and Instructions

➖➖➖➖➖ How to Apply: Submit applications to flgc@jmmb.com by May 22, 2025 Please include the title or role you are applying for in the subject line of your email. Only shortlisted candidates will be contacted.

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