What's Happening?
First Actuarial has appointed Claire Fuller and Robert Hurst as co-heads of administration, marking a strategic move towards a new era of digital scheme administration. Robert Hurst, with 27 years of experience
in pensions administration, has held various roles at Capita, Kerr and Company, and Aon before joining First Actuarial as process manager in 2020. Claire Fuller, who has been with First Actuarial since 2013, previously held positions at Towers Watson and Xafinity, focusing on systems and data analysis. Their combined expertise in technology and process management aims to enhance the firm's administration function, particularly in light of regulatory focus on data quality and the development of pensions dashboards.
Why It's Important?
The appointment of Hurst and Fuller is significant as it reflects First Actuarial's commitment to adapting to technological advancements in pensions administration. This move is expected to improve member experience through robust processes and high-quality data management. As the industry faces increasing regulatory scrutiny, the leadership duo's focus on data quality and guidance is crucial for compliance and operational efficiency. Their involvement in PASA (Pensions Administration Standards Association) further underscores their role in shaping industry standards, potentially influencing broader practices in pensions administration.
What's Next?
Looking ahead, Hurst and Fuller will continue to engage with industry initiatives and advancements, particularly in digital technologies and regulatory compliance. Their active participation in PASA suggests ongoing contributions to setting standards for process and data quality in pensions administration. This could lead to further innovations and improvements in member-focused services, aligning with industry trends towards digital transformation.
Beyond the Headlines
The appointment highlights the growing importance of digital transformation in financial services, particularly in pensions administration. As technology continues to evolve, firms like First Actuarial are increasingly prioritizing digital solutions to enhance service delivery and regulatory compliance. This shift may also prompt other firms to reevaluate their administration strategies, potentially leading to widespread industry changes.
