The Challenge
Investec Employee Benefits Limited had closed an entire department after outsourcing the administration function for a number of funds. After closing the department, the management team realised that there were still a number of outstanding problems to be resolved, and that the diversity and nature of the problems remaining after such a transaction would make it difficult to find someone suitable to perform the clean-up. Maxine Rockett was appointed to undertake the project.
The Solution
Stage 1. Every single complaint was reviewed and the associated payments analysed via various computer systems.
Each customer received a personal letter advising them of the remedial steps being taken. Where appropriate, payments were authorised either directly to the customer or to the consultants and actuaries who had taken over the funds.
Stage 2. The new team received training on pension laws and the new processes, in order to ensure a smooth transition of the pension fund management.
The Outcome
All the outstanding issues were resolved to the satisfaction of the clients and of Investec Employee Benefits, completing the outsourcing exercise successfully.
Client Feedback
“We were very lucky to come across Maxine. She is a hard worker who requires very little supervision, and is a self-starter with good communication and interpersonal skills. She grasps information very quickly and it takes very little effort to explain a new function or requirement to her. Maxine is a flexible person who can do anything you give her, and she has the ability to work with a diverse range of people, and a diverse range of problems and issues."Head of PSO, Technical Support and Training at Investec Employee Benefits
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