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Creating Standard Operating Procedures for your Superannuation Funds Manager work can be difficult and take time. That’s why we’ve created these example Superannuation Funds Manager SOPs so you can jumpstart your SOP creation process. We want to help you set up your Finance systems and processes by taking these sample SOPs and building out your own SOPs template library. By having all your Finance procedures in one place, your team will have the information they need at all times. Let’s look at some Superannuation Funds Manager SOP examples.
1. Investment Strategy SOP: The purpose of this SOP is to outline the investment strategy for the superannuation fund, ensuring that it aligns with the fund’s objectives and risk appetite. The scope of this SOP includes determining asset allocation, investment guidelines, and risk management procedures. The Superannuation Funds Manager is responsible for developing and implementing this SOP. References to other SOPs may include the Risk Management SOP and the Compliance SOP.
2. Member Enrollment SOP: This SOP details the process for enrolling new members into the superannuation fund. It includes the necessary documentation, eligibility criteria, and procedures for collecting and verifying member information. The scope of this SOP covers the entire member enrollment process, from initial application to account setup. The Member Services team is responsible for executing this SOP. References to other SOPs may include the Data Privacy SOP and the Account Administration SOP.
3. Contribution Processing SOP: The purpose of this SOP is to provide guidelines for processing member contributions into the superannuation fund. It outlines the procedures for receiving, reconciling, and allocating contributions to individual member accounts. The scope of this SOP includes both employer and member contributions, as well as any associated reporting requirements. The Contributions Processing team is responsible for executing this SOP. References to other SOPs may include the Financial Reporting SOP and the Compliance SOP.
4. Benefit Payments SOP: This SOP outlines the process for processing and disbursing benefit payments to eligible members. It includes procedures for calculating benefit amounts, verifying member eligibility, and coordinating with external service providers, such as insurance companies or pension funds. The scope of this SOP covers all types of benefit payments, including retirement, disability, and death benefits. The Benefit Payments team is responsible for executing this SOP. References to other SOPs may include the Claims Management SOP and the Compliance SOP.
5. Investment Performance Monitoring SOP: The purpose of this SOP is to establish a framework for monitoring and evaluating the performance of the superannuation fund’s investment portfolio. It outlines the key performance indicators, reporting frequency, and analysis techniques to assess the fund’s investment performance against benchmarks. The scope of this SOP includes regular monitoring, reporting, and review of investment performance. The Investment Analysis team is responsible for executing this SOP. References to other SOPs may include the Risk Management SOP and the Compliance SOP.
6. Compliance and Regulatory Reporting SOP: This SOP outlines the procedures for ensuring compliance with relevant laws, regulations, and reporting requirements in the superannuation industry. It includes guidelines for monitoring regulatory changes, maintaining compliance records, and preparing and submitting regulatory reports. The scope of this SOP covers all compliance and regulatory reporting obligations of the superannuation fund. The Compliance team is responsible for executing this SOP. References to other SOPs may include the Risk Management SOP and the Internal Audit SOP.
7. Member Communication SOP: The purpose of this SOP is to establish guidelines for effective communication with superannuation fund members. It outlines the procedures for providing regular updates, educational materials, and responding to member inquiries or complaints. The scope of this SOP covers all member communication channels, including mail, email, website, and call center. The Member Services team is responsible for executing this SOP. References to other SOPs may include the Data Privacy SOP and the Complaints Handling SOP
Looking for SOP templates for your Superannuation Funds Manager work? We’ve got you covered. You can build out your company SOPs using the sample SOP information above (added to our template) or our team can put together a starter SOPs template based on your Superannuation Funds Manager work. Get in touch if you’ve got questions about the quickest way to build out your Finance SOPs library.
