Claims Specialist - Pensions
Within this role you will process compensation claims across product work streams specifically for pensions and support the delivery of technical guidance and training to our outsourced claims processing partners. You will also deliver where appropriate, and as your manager directs the Thematic claim process. Claims must be completed accurately, managing customer expectations and always being mindful of the customer experience. You must possess knowledge of assessing pension claims and calculating redress using specialist software (RECAL or PRESS).
Who we are
At FSCS we keep people’s lives moving by protecting them when authorised financial services firms fail. We are the single, independent UK compensation scheme for all regulated financial services, the first of its kind in the world. The Scheme protects deposits in banks, building societies and credit unions as well as insurance policies, investment advice and services and home finance. We are non-profit and independent and a great place to work if you enjoy making a difference to people's lives.
At FSCS we recognise and reward people’s hard work and contribution and actively support personal and professional development. Our people make a difference to other people’s lives and we like to recognise their impact through social events, team lunches and away days, fund raising activities and giving back events.
We are committed to ensuring that everybody feels there are no barriers when applying for our roles. All our roles are offered with flexibility in mind plus we are keen to make any reasonable adjustments to enable you to fulfil the role. We offer all roles as either part time or full time with the added benefit of flexible working.
We put the customer at the heart of everything we do at FSCS. Our values are designed to ensure that all staff are able to affect the impact on our customers:
· We always do what we say we will do. People can trust us to deliver.
· We put FSCS and what FSCS is trying to achieve above all else.
· We have the humility to acknowledge when we are wrong and learn from our mistakes.
· We encourage constructive and appropriate challenge.
· We are brave and honest in questioning each other and receptive to questions ourselves.
· We strive daily to add greater value for all our customers.
· We believe in our collective strength. We work better together.
· We respect each other’s expertise and use it to achieve common goals.
· We work as one to do what we agree is right.
What the role will deliver
- Accurately processed claims that generate accurate decisions and accurate compensation payments with specialist knowledge in pension products
- Accurate technical and process guidance provided to outsource partners
- Identification and resolution of Thematic issues
- Effective training delivered
- Value for Money benefits delivered ( either hard cost savings or non-financial benefits such as risk reduction or improved customer experience)
Delivery of Claims Process
- Process claims in line with rules, policies and SLA’s
- Ensure good governance of all dealings with outsourced partners, tracking progress and delivering to SLAs
- Maintain training materials and deliver training to outsource partners
- Take responsibility for keeping outsource partners up to date with process changes
- Enable outsource partners to deliver services in accordance with FSCS rules and policies; including visiting outsourcers, running surgeries, and delivering training
- Provide technical support and guidance to outsourcers, applying knowledge and experience of Scheme rules and policies for different product types
- Liaise with failed institutions, insolvency practitioners and other third parties enabling claims issues to be resolved effectively post declaration
- Keep process manuals and training materials up to date and accessible to other users, maintaining security and version control
- Contribute to default and contingency planning activities as required
- Support the delivery of specific deposits activity as required
- Apply knowledge and experience of financial services products to investigate a wide range of compensation claims establishing whether a claim is eligible for compensation and calculating compensation due
- Complete relevant claim checklists within Siebel to the appropriate standards
- Identifies and resolves specific technical / legal / policy issues, liaising with colleagues outside the team as required
- Work collaboratively with to ensure approach adheres to rules, policies and legal requirements
- Build effective relationships internally and with third parties including FCA, PRA, Insolvency Practitioners to assist FSCS readiness and resolution of claims issues where required
- Ensure good governance of claims in place for effective reporting
- Ensure risks to delivery are identified and effectively managed
- Contribute to contingency planning activities as required
Claims Process Maintenance and Process Improvement
- Collaborate with other Technical Claims team colleagues to ensure the consistent, effective and efficient processing of customer claims
- Identify opportunities to improve the process and act effectively in taking them forward as appropriate
- Be a positive role model and advocate for change
- Take on support and supervisory tasks allocated by your manager.
- Deputise for your manager as required.
- Provide coaching and mentoring to junior members of the teams around key aspects of the role
- Ensure that any required statistics are maintained in the required format
- Undertake ad-hoc projects as and when required
The role holder will be required to work off-site which may involve being away from home overnight.
What we are looking for
- Demonstrate knowledge of assessing pension claims and calculating redress using specialist software (RECAL or PRESS)
- Demonstrate technical claims knowledge
- Demonstrate technical knowledge of claims assessment process, including new thematics
- Demonstrate expert knowledge of FSCS rules, policies and processes.
- Demonstrate technical knowledge of Deposits process
- Demonstrate knowledge of FSCS Systems
We have a generous benefits package offering a competitive salary, 26 days’ holiday plus Bank Holidays, pension, discretionary bonus, enhanced maternity and shared parental pay and leave, health and dental insurance and more. We are based in the City of London in corporate offices with excellent access to major transport links.