Head of Pensions Operations

End Date

Monday 13 January 2025

Salary Range

£0 - £0

Flexible Working Options

Hybrid Working, Job Share

Job Description Summary

JOB TITLE: Head of Pensions Operations

SALARY: £104,992 - £135,872

LOCATION(S): Bristol / Halifax / Leeds / Edinburgh

HOURS: Full-time

WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.

About this opportunity

The Head of Pensions Operations leads the daily administration of Pension Schemes and develops an operational strategy to fulfil the Trustee vision. This role offers an outstanding opportunity to lead a team, implement strategies and make a meaningful impact on our pension operations.

This role is ideal for someone who is outstandingly driven and highly motivated to lead our pension operations. We would love to hear from you if you are ambitious, have a proven track record, and are ready to successfully implement innovative solutions!

Day to Day you will:

1. Lead a team with clear goals and vision.
2. Lead the selection and performance management of key third-party advisers and suppliers to ensure the delivery of high-quality advice and services to the Pension Schemes, through robust strategic relationship management and performance monitoring.
3. Lead the implementation and delivery of a Business & Strategic Plan for the Trustee, derived from overarching strategy, prioritising requirements and ensuring compliant delivery of pension scheme operations.
4. Work with Trustee Chairs of Operations Committee and DC Committee to ensure effective compliance with agreed objectives, using knowledge of UK pension schemes.
5. Budgetary responsibility for c.£40m pa in support of operational delivery.
6. Management and delivery of significant change encompassing both high profile legacy rectification and projects to improve member services and experience through technology advancement.
7. Ensure project timelines, delivery dates and budgets are realistic and achieved.
8. Efficient, timely and cost-effective delivery of pension scheme administration and communications business plan.
9. Lead operational risk of Group pension schemes, reduce risk exposure, improve control framework, and work closely with Senior Pensions Risk Manager.
10. Comply with regulatory requirements, including an effective complaints management process.
11. Tap into networks to stay informed about current and future development opportunities, integrating them into our operations efficiently at the appropriate time for the Group's pension schemes.

Why Lloyds Banking Group

Like the modern Britain we serve, we’re evolving. Investing billions in our people, data and tech to transform the way we meet the ever-changing needs of our 26 million customers. We’re growing with purpose. Join us on our journey and you will too.

What you’ll need:

1. Is professionally pension or actuarially qualified, with deep experience of operating at a senior level representing either Scheme sponsor or Trustee, ideally in the Banking or related sector.
2. Significant knowledge of the operational framework governing UK pension schemes together with evidence of ability to implement robust working processes to ensure compliance.
3. Experience of leading a diverse range of suppliers across multiple service lines to meet common Trustee/sponsor objectives.
4. Demonstrates negotiation and influencing skills.
5. Proven track record of handling large budgets and delivering projects on time and within scope.
6. Strong strategic relationship leadership skills with the ability to build and maintain high-quality, collaborative partnerships.
7. Outstanding leadership capabilities with the ability to encourage and guide a high-performance team.
8. Excellent interpersonal skills, both written and verbal, with a talent for making complex information understandable.

And any experience of these would be really useful:

1. Experience of exposure to the Pensions Regulator preferred, such as through the supervisory regime.

About working for us

Our focus is to ensure we're inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative. And it’s why we especially welcome applications from under-represented groups. We’re disability confident. So if you’d like reasonable adjustments to be made to our recruitment processes, just let us know.

We also offer a wide-ranging benefits package, which includes:

• A generous pension contribution of up to 15%
• An annual performance-related bonus
• Share schemes including free shares
• Benefits you can adapt to your lifestyle, such as discounted shopping
• 30 days’ holiday, with bank holidays on top
• A range of wellbeing initiatives and generous parental leave policies

If you’re excited by the thought of becoming part of our team, get in touch. We’d love to hear from you.

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.