Headquarters:

Kitchener, ON

Year founded:

1983

Number of employees:

Phone:

519 743 9000

Email:

info@penad.ca

Website:

penad.com

LinkedIn:

linkedin.com/company/penad-pension-services-limited

“We prioritise embracing cutting-edge technologies, creative problem solving and continuous improvement to enhance our premium funding solutions and provide exceptional value to our clients”

Matthew Price

President and Chief Executive Officer

Marina Yeoman

Vice President, Service Delivery

Anzhela Nochovna

Director, Systems Development

Leadership

Matthew Price is a seasoned executive with nearly 25 years of experience across insurance, financial services, pension and benefits administration, and enterprise technology. His career is defined by a commitment to operational excellence, regulatory integrity, and the modernization of complex administrative systems. Rising through progressively senior roles, he has led large-scale transformation initiatives, strengthened organizational capabilities, and built high-performing teams. As CEO of Penad, Price brings deep domain expertise and strategic vision to advancing the company’s leadership in secure, reliable benefits administration. Outside his professional responsibilities, he is actively involved in youth football in the Waterloo Region, supporting player development and community engagement with the same dedication that guides his leadership.

President and Chief Executive Officer

Matthew Price

Marina Yeoman is the vice president of service delivery at Penad, bringing over 25 years of experience in insurance, financial services, and technology delivery. Her career is built on a deep understanding of complex administrative environments and a proven ability to lead teams through operational transformation. Yeoman excels at aligning technology, process, and client expectations to ensure consistent, high-quality service outcomes. Known for her steady leadership and commitment to continuous improvement, she drives service excellence across all client engagements. Her strategic insight and hands-on experience make her a key contributor to Penad’s reputation for dependable, client-focused delivery.

Vice President, Service Delivery

Marina Yeoman

Anzhela Nochovna is the director of the Systems Development Group at Penad, where she leads both data initiatives and the company’s software development team. With strong expertise in data analysis, system planning, and process optimization, she ensures Penad’s platforms remain accurate, reliable, and adaptable. Known for her collaborative and solution-driven approach, Anzhela aligns technical development with business needs, supporting efficient operations and strengthening Penad’s commitment to innovation and service excellence.

Director, Systems Development

Anzhela Nochovna

BRETT BASTOW, IQUMULATE PREMIUM FUNDINGs

Leadership

Beth Waller

Vice President, Strategic Consulting Services

Beth Waller is a seasoned pension operations and consulting leader with more than two decades of experience spanning pension administration, financial services, and technology-enabled service delivery. She is recognized for driving operational transformation, implementing innovative administration models, and enhancing efficiency across complex, multi-office environments. Bethany’s expertise includes plan interpretation, legislative compliance, system implementation, data integrity, and end-to-end administration strategy. She excels at building high-performing teams and delivering client-focused solutions that strengthen service quality and regulatory alignment. As Penad’s vice president of Strategic Consulting Services, Bethany partners closely with clients to design scalable, modern administration strategies that elevate outcomes and support their long-term success.

Vice President, Strategic Consulting Services

Beth Waller

Rob Fuller

Head of School (10-12)

Rob Fuller commenced as head of school (Years 10–12) in 2024. He joined Kingswood College from Ivanhoe Girls’ Grammar School, where he was director of curriculum. He is a passionate teacher of politics, history and English and has held roles such as year level coordinator and curriculum leader across the middle and senior years. He is deeply committed to supporting students through their VCE journey and enhancing teacher practice. At Kingswood, Fuller has introduced improved subject selection processes, reimagined the Student Representative Council and strengthened student-centred initiatives that promote resilience, character and meaningful real-world learning experiences.

Head of School (10-12)

Rob Fuller

Stevens & Associates Lawyers is a leading and trusted employment law firm based in Sydney known for delivering high-quality legal expertise in the area of employment law and industrial relations across Australia, alongside a proven track record of effectively and swiftly resolving a variety of workplace law issues. In the past year, the firm’s growth has been notable. It has: • experienced a 213% growth in the number of client matters, increasing from 149 client matters in the 2022 financial year to 390 client matters in the 2023 financial year • improved its online visibility, leading to over 50 online enquiries each month and a conversion rate of client leads of up to 40% • significantly expanded the breadth and type of matters that it advises on day to day, which has increased the firm’s skillsets, diversity and resilience • expanded its community outreach by collaborating with local Sydney venues for client seminars and continuing active participation in a Sydney small/family business group Stevens & Associates Lawyers has adapted to digital trends by implementing an effective strategy with SEO and web design, resulting in a structural shift that has seen increased representation of employees where the firm previously mainly advised employers. The firm’s recognition as a “Fast Firm” attests to its momentum in the employment law space.

“IQumulate is on a technology journey, and we’re just getting started”

Wayne Tower, IQumulate Premium Funding

Tina Flyger

Head of People and Culture

Matthew Westwood-Hill

Chief Information Security Officer

Kathy Pallasis

Manager, Human Resources

Pam Chhabra

Manager – Residential Strata

Tina Flyger commenced as head of people and culture in 2024. With over 15 years of human resources experience, she believes people are the cornerstone of any organisation. She takes a collaborative approach, working closely with executives, managers and teams to shape and deliver effective strategy. She is a dynamic, approachable and highly experienced people and culture leader, with a background spanning both schools and industry. Flyger’s expertise is key to nurturing staff and students, strengthening relationships, and fostering a positive, forward-looking culture that supports the continued growth and success of the Kingswood College community.

Head of People and Culture

Tina Flyger

Matthew Westwood-Hill is a seasoned cyber security leader with over 20 years’ experience in digital forensics, incident response and information security. He has led teams at SBS, CyberCX, and Ernst & Young, managing major incidents and aligning security strategies with business goals. Westwood-Hill is known for his innovative, risk-reducing solutions and clear communication with executives and regulators. He drives awareness, compliance and resilience through training, policy and strategic planning. A frequent speaker and media contributor, he holds advanced qualifications in cyber security and digital forensics and is a recognised expert witness committed to continuous learning and emerging threat readiness.

Chief Information Security Officer

Matthew Westwood-Hill

Kathy Pallasis, manager, human resources at Frontier Software, leads HR strategy and operations from Melbourne. She oversees policy development, employee relations, and internal communications, working closely with senior leadership and cross-functional teams. Pallasis is known for her clear, responsive communication and collaborative approach. She manages employee records, supports strategic planning and coordinates workplace logistics. With experience in enterprise software, payroll systems and governance, Pallasis is a trusted resource for internal stakeholders. She holds a humanities degree, is a member of AHRI, and actively contributes to continuous improvement and inclusive workplace practices through policy and operational leadership.

Manager, Human Resources

Kathy Pallasis

Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager. As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.

Commercial Manager

Stephen McMillan

One culmination of these efforts has been the real-world, needs-based IQEdge solution. A one-stop online quoting tool designed for both the Australian and New Zealand markets, IQEdge delivers quotes in under 60 seconds. Plus, the solution offers quote comparison and quote versioning capabilities, enabling users to review vital historical and financial data in a single page view. IQEdge can streamline and automate application processing, underwriting document verification and payment collection, cutting the need for manual labour and minimising processing errors. A digital “self-service” platform, IQEdge, reduces the need for customer and administrative support. Meanwhile, borrowers can access their accounts, make payments and manage their policies independently and through sales and support teams, which are always available for further assistance. “We’ve created a quality platform that simplifies the quoting process yet amplifies the customer experience,” says Gordon. “It’s a real game changer.” IQumulate offers an online digital quoting tool to clients. The best-in-market solution enables IQumulate to tailor funding offerings to brokers that align with their prefered distribution channel.

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What does IQumulate have in mind for the future? “IQumulate is on a technology journey, and we’re just getting started,” says Wayne Tower, CEO. “Through continuous engagement with our clients, partners, marketplace and industry, we will listen to the needs as they arise and position our business to be agile and respond to changes as they occur. “Faster decision-making innovations such as AI-powered decision support systems can expedite the underwriting and approval process, leading to quicker responses to clients. This can improve client satisfaction and potentially attract more business, creating a competitive advantage with the potential to allow IQumulate to command premium pricing or capture a larger market share. “As forward-thinkers with a digital and ‘do it better’ mindset, we collectively and proactively look to learn and improve on our customer experience for our clients, paving the way for successful business outcomes for our clients and our business in the coming years ahead. “We’re excited for the future and look forward to what’s on the horizon.”

Adam Basaldella

Manager – Claims

Product Manager

Claire Watson

Commercial Manager

Stephen McMillan

Claire Watson

Product Manager

Claire Watson

Product Manager

Claire Watson

“Our long history has shaped a deep understanding of the industry, allowing us to anticipate client needs and design systems that manage complexity with confidence”

Matthew Price, Penad Pension Services

“Clients value that we pair reliable technology with a collaborative, people-focused approach, building trust, clarity, and shared success over the long term”

Matthew Price, Penad Pension Services

Ivan Verescuk

Chief Executive Officer and Managing Director

Shaun O’Brien

Head of Underwriting

Emily Walker

Head of Strata and Development

Rex Oakman

Head of Operations and Risk

Sandy Newton

Head of Underwriting

Andrew Mitchell

Manager – NSW

Michael Prokopis

Manager – Southern Region

Pam Chhabra

Manager – Residential Strata

Jeffrey Valdivia

Manager – Commercial Strata

Adam Basaldella

Manager – Claims

When a company has spent more than 40 years working through the practical realities of pension and benefits administration, its technology reflects only part of what shapes its success. For Penad Pension Services, much of its strength comes from a partnership model that has supported clients through regulatory change, evolving plan structures, and periods of growth. “Our long history has shaped a deep understanding of the industry, allowing us to anticipate client needs and design systems that manage complexity with confidence,” explains CEO Matthew Price. “Clients value that we pair reliable technology with a collaborative, people-focused approach, building trust, clarity, and shared success over the long term.” That philosophy underpins Penad’s identity and its recognition among BPM’s 5-Star Technology Providers for 2025. Penad describes its culture as one grounded in integrity, innovation, and a firm commitment to partnership. The organization points to a mix of deep administrative experience and current, adaptable technology that gives clients confidence the platform can meet day-to-day needs and handle the technical demands that come with detailed plan rules.

IQumulate invests in education and people, which are vital to attracting new business and talent to the company. “We have long tenures for several of our key staff, including some in leadership positions, and this sound working knowledge of our business, practices and industry provides great insights and a wealth of experience to offer our clients,” says Bastow. “Our new head of sales, Graeme Gordon, formerly manager for New Zealand, joins us in Australia to drive our sales strategy and lead our team to successful outcomes for our clients and our business. We look forward to great things ahead with Graeme as he continues to be active and present in the New Zealand market as well as building sound working relationships and new connections in Australia.” Clients can also expect a lot from working with IQumulate. “Through active engagement with our trusted broker network, IQumulate provides relevant information, education and training content,” says Graeme Gordon, head of sales. “Our clients can expect IQumulate to support their business in several ways, providing an understanding of what premium funding solutions are available and how IQumulate can spread the cost of insurance and help borrowers get the right level of insurance cover to free up their cash flow for other expenses or business growth opportunities. Premium funding is often considered a tool for those who simply cannot afford to pay their premiums in full. While this is certainly a significant driver for many, it is also successfully used by profitable companies who use premium funding to manage their cash flows more wisely or better manage their liquidity.”

Medal

Recruitment Solutions Software

Benefits

Compensation

Culture

Diversity, equity and inclusion

Innovation

Reputation

Sustainable programs

Overall

Its technology follows the same partnership-first approach. Penad focuses on configurable tools that apply complex rules accurately, reduce routine work, and fit into client environments without disruption. Clients want systems that help them meet reporting and compliance obligations, and Penad builds with that in mind. Each update draws on years of hands-on experience, and the roadmap shifts as clients, regulators, and industry partners bring new priorities to the table. The result is a platform shaped by long practice rather than abstract design. Leadership helps keep that balance intact. Under Price, the platform has continued to grow with a clear view that technology should reinforce the expertise behind each plan. His team includes Marina Yeoman in service delivery, Bethany Waller in strategic consulting, Hannah Jailall in client relationships, and Anzhela Nochovna in systems development. Their roles touch different parts of the client journey and contribute to how Penad responds to operational needs. Modernization has been a consistent theme over the past two years. Penad has introduced AI tools, expanded system functions, and added integrations that improve accuracy and keep day-to-day work moving. These changes are intended to support analytical and administrative tasks and reduce the time spent on repetitive work. The company looks at value through tangible outcomes such as accuracy gains, faster turnaround, strong integration performance, and the long relationships that have defined much of its history. Onboarding also follows a guided process. Penad oversees configuration, customization, data migration, training, launch support, and ongoing assistance. The team understands the administrative detail behind each plan and works with clients step by step so the transition is manageable and predictable. Penad intends to broaden its reach. It is assessing opportunities in new regions, expanding AI capabilities, and building out integrations to support a wider range of administrative needs. As Price notes, “Penad’s future is one where advanced technology and human expertise work in harmony, empowering organizations to navigate complexity with confidence, and positioning us to lead the next generation of pension and benefits administration across Canada and beyond.”