The Pension Operators Association of Nigeria (PenOp) has successfully concluded the   inaugural   edition   of   its   Induction   Academy,   a   targeted   training   program designed   to   provide   new   employees   in   the   pension   industry   with   essential knowledge   and   practical   skills.

The   program  is   tailored  to   employees   who   have joined the industry within a six month to two-year time period.

The inaugural edition covered five comprehensive modules, offering a well-rounded curriculum   that   spanned   pension   industry   fundamentals,   customer   service, investment   strategies,   ethics,   compliance, fraud  awareness,   and   leadership.

The sessions were  facilitated  by  seasoned   industry  experts,  who  were  either  serving within the industry or retired.

The CEO of PenOp, Oguche Agudah, underscored the importance of engagements like this to the participants. He stressed that the industry was looking to tap their experiences from other industries, but was also keen to ensure that they understood the history, and ethos of the industry.

 Adaobi   Okoye,   Head   of   People   &   Training   at   PenOp,   kicked   off   the   event, underscoring   the   academy’s   primary   goal:   to   equip   participants   with   a   deep understanding of  the   intricacies  of the  pension   sector.

 She  introduced  a  diverse  group of expert facilitators who  delivered dynamic, engaging content focused on professional growth and practical application.

Over  the course  of  the  four-day  program,  participants delved into  critical topics, which included; Pension   Fund   Investment   Strategies   &   Risk   Management.

This   session   explored investment products, financial markets, and how to manage risk effectively within pension portfolios.

Next was Contributions, Benefits, and Data Management. This module emphasized the   importance   of   accurate   record-keeping   and   the   regulatory   frameworks   that govern pension administration.

Followed   by   Compliance   and   Fraud   Awareness.

This   session   focused   on   the importance of  maintaining integrity,  professionalism, and vigilance  to detect and prevent fraud within the pension industry.

Lastly,   it   covered   Customer  Service   &   Ethical   Leadership  where   the   facilitator shared best  for fostering strong client opreationships and emphasized the crucial role ethics play in active leadership.

The program attracted 41 participants, who actively engaged in case studies, real-life scenarios, and interactive discussions. The academy provided a solid foundation for new employees, empowering them with valuable insights into customer service, risk management, and ethical leadership. Upon completing the program, participants were awarded certifications, signaling their   readiness   to   make   significant   contributions   to   the   industry.

This   will   be   a continuous program that will seek to induct new entrants into the pension industry on an ongoing basis.

About PenOp

PenOp serves as the umbrella organization for licensed Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) in Nigeria, advocating for best practices and advancing the development of the nation’s pension industry