Modupe Gbadeyanka
By Modupe Gbadeyanka
An Initial Management Quality Rating of MQ2(NG)(mq) with a Stable Outlook has been assigned to Stanbic IBTC Pension Managers Limited by Global Credit Ratings (GCR).
The rating shows the pension firm’s strong management team with robust organisational structures, adequate controls, and sound risk management practices, as well as its clear strategy and solid financial position.
The chief executive of Stanbic IBTC Pension Managers, Mr Olumide Oyetan, attributed the rating and success of the company to its commitment to better serve customers without compromising operational excellence.
“We are a member of the Standard Bank Group, Africa’s largest banking group by assets, totalling $170 billion, as of 31 December 2022. This feat has enabled us to leverage the Group’s resources for our portfolio management functions.
“Our sister company, Stanbic IBTC Bank, is also the only AAA-rated Bank in Nigeria today, lending further credence to the Group’s strength and stamina, especially in its leadership and governance structures.
“We deliver pension fund administration and management services to over 1.9 million private and public sector Retirement Savings Accounts (RSA) holders under the Contributory Pension Scheme) through our extensive network of 29 branches and ten service centres nationwide,” he said.
Mr Oyetan noted that the organisation also managed defined benefit plans for large corporates and provided value-added services, including retirement planning advice and personal financial planning.
He described Stanbic IBTC Pension Managers as an organization equipped with a stable and experienced management team with sound management experience to keep the organization ahead of the pack in its operations and practices.
“Our portfolio management is sound, and our investment style is value-based with a long-term bias. We implement a top-down approach in securities selection, which is monitored monthly by the executive committee.
“We also offer our clients transparency and ease of account access through channels such as our secure web portal, 24/7 multilingual contact centre, telephone, email, SMS, and our growing loop of client experience centres,” Oyetan said.
The PFA’s boss noted that the company maintained an adequate operational risk management framework, saying, “We manage cyber and data privacy risks using internal controls reviewed annually by independent third parties to reassure all our stakeholders of our commitment to doing business correctly and safely.”
On his part, the Chairman of the board of Stanbic IBTC Pension Managers, Mr Demola Sogunle, expressed delight in the rating, stating that it was evidence of the company’s dedication to achieving excellence in all areas of its operations.
“We are very delighted to have received this rating from GCR, which recognizes our concrete efforts to maintain the highest standards of corporate governance, risk management, and financial performance,” he said.
The chairman added the rating would boost confidence among Stanbic IBTC Pension Managers’ clients and stakeholders and would affirm the company’s dynamic capability to manage risks and deliver on its commitments.
