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Manager (Back Office Administration)

LIC Pension Fund Ltd.
Equivalent of Scale II in PSU Banks
Closing date
Jul 28, 2024

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Job Function
Credit Analysis
Industry Sector
Asset Management
Employment Type
Full Time


LIC PFL is a Pension Fund Manager (PFM) appointed by Pension Fund Regulatory and Development Authority (PFRDA) in 2017 under NPS to manage pension contributions of Government & Private Sector employees

As on 31-Mar-2023, LIC PFL’s assets under management (AUM) were Rs 253,250 Crores, a 28% share in addressable market. LIC PFL has been achieving year-on-year growth of about 25% in the AUM

LIC PFL’s business is competitive while being tightly regulated; therefore, LIC PFL has taken a lead to devise employee-friendly and performance-enabling HR Policies and is keen to hire and retain performing  professionals to avail business growth and offer career growth

Purpose of the Role

  • Support smooth operations of Front Office
  • Maintain, as directed by PFRDA, accurate & updated records of Client Corpus per NPS Scheme, investments and trail of all transactions per asset class in portfolio of LIC PFL
    • [PFRDA. The Pension Fund maintains books of accounts, records, registers and documents relating to operations of pension schemes. This is important to ensure compliance with the rules and regulations, as well as to facilitate an audit trail of transactions and business continuity at all times]
  • Ensure Regulatory compliances
    • [PFRDA. The Pension Fund submits periodical and compliance reports as required by the PFRDA / NPS Trust]
  • In addition, role holder shall take up responsibilities as directed by CFO or Head of Department

Role Abstract
Expectations from this role are defined and directed by PFRDA; operations of this role have automated as they have been cast and codified in PFRDA-approved investment management software tools that LIC PFL has installed. In addition, PFRDA periodically notifies whatever is missed out in software. The professional in this role has to follow system’s workflow and be alert to non-conformances, deviations, and, accordingly, raise flags for course corrections. The role addresses all back-office tasks pertaining to investment

Demographic Profile of Candidate

  • Age profile (years): 28 to 35
  • Gender Preference: Equal opportunity
  • Language: Read, Write, Speak in English 

Qualification profile

  • Graduation: Any Graduate
  • Post-Graduation: MBA (Finance); CFA, CA

Profile of prior experience

  • Overall Min: 5 years 

Relevant experience definition

  • should have worked in a back-office of any institutional investor with Clients in India or overseas; understands business environment – regulatory oversight; risks especially as customers seeking  igher returns on investments
  • should have gained high proficiency in use of any 1 or 2 of popular investment software products supporting high volume of transactions; understands low tolerance to errors 
  • should be familiar with computations of NAV

Source-map sectors

  • (*) institutional investors such as hedge funds, PE groups, MFs, pension funds, trusts, and family offices

Source-map roles

  • back-office Associate; Team Lead

Compensation payable

  • Annual fixed compensation is Rs 16.05 Lakhs. Together with variable compensation (best individual performance against agreed KPIs PLUS Company performance), maximum annual compensation Professional can potentially earn is Rs 21.72 Lakhs.
  • Benefits extra as per LIC PFL’s HR Policies

Competency Profile of Candidate

Functional Competencies

  • high proficiency in use of investment software product(s)
  • accounting principles; bank transactions of clearances & settlement
  • PFRDA directives to PFMs in regard to data and compliances

Behavioral Competencies

  • compliance-oriented
    (in using a software aligned to with PFRDA guidelines)
  • alert in raising flags; quick escalation
    (especially while creating masters & when proposals are not
    aligned to LIC PFL’s investment philosophy)
  • skills in verbal & written communication
    (while dealing with banks and portfolio Company for reconciliation, clearances & settlements)
  • stamina for executions of daily tasks while ensuring smooth operations; attention to detail (no back-log, at end-of-day, of un-reconciled transactions)

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