PenOp Launches Academy to Equip New Pension Industry Employees

By LOVETH AZODO, Lagos

The Pension Operators Association of Nigeria (PenOp) has launched its inaugural Induction Academy, a new initiative aimed at preparing fresh recruits in the pension industry with the knowledge and skills essential for the job.

The Association made this known in a statement, according to them, the academy’s first edition, recently concluded, targeted employees who had joined the industry within the last six months to two years.

The four-day program covered five key modules, designed to offer a comprehensive understanding of the pension industry. Topics ranged from pension fund investment strategies and risk management to customer service, compliance, and fraud awareness. The training was led by seasoned experts, both active and retired, bringing decades of industry experience to the sessions.

PenOp CEO Oguche Agudah emphasized the importance of initiatives like the Induction Academy, noting the pension industry’s interest in integrating experiences from other sectors while ensuring new employees understood the industry’s history and guiding principles.

Adaobi Okoye, Head of People & Training at PenOp, opened the event, stating that the academy’s goal was to provide participants with a deep understanding of the intricacies of the pension sector. She highlighted the diverse group of facilitators who were brought in to deliver content that promoted both professional growth and practical application.

Participants explored a variety of critical topics, including investment strategies and risk management within pension portfolios. Another module focused on contributions, benefits, and data management, stressing the importance of accurate record-keeping and understanding the regulatory frameworks governing pension administration.

Compliance and fraud awareness were also key topics, where the facilitators stressed the need for integrity, professionalism, and vigilance in detecting and preventing fraud within the industry. The academy concluded with sessions on customer service and ethical leadership, offering best practices on client relationship management and highlighting the role ethics play in effective leadership.

The academy attracted 41 participants, who actively engaged in case studies, real-life scenarios, and interactive discussions. Participants were awarded certifications upon completion of the program, signifying their readiness to make meaningful contributions to the industry.

The Induction Academy is set to become a continuous program, aimed at onboarding and equipping new employees entering the pension industry in Nigeria.