Pensions Project Accountant

About the job Pensions Project Accountant

Purpose of the job

To provide effective support to the Head of Pension Fund Investment in meeting the requirements of Pensions Services covering governance, accounting, investments and actuarial services and for a range of other Council wide projects as required.

• To ensure the Pensions division meets its statutory and financial responsibilities by providing strategic management in the full range of pensions functions covered within the pensions team. The Pensions Project Accountant will need to work with the Head of Service and the Group Accountant to ensure delivery of investment, pensions accounting, actuarial and governance services.

• To play a key role in managing the financial position of fund employers. The post holder will be responsible for obtaining contribution rates for new employers and cessation valuations for those exiting the Fund. They will also be responsible for collation, monitoring and reconciliation of pension fund contributions.

• The Pensions Project Accountant will need to build relationships with both internal and external stakeholders at all organisational levels and provide proactive, high quality and informed financial advice at all levels of operational decision making, with the necessary challenge and/or justification where necessary.

• The post holder will require both a breadth and detail of understanding to deliver services to the Head of Pension Fund Investment and assist in making accurate judgements around timescales, benefits, costs and risks. The Pensions Project Accountant will have to adapt rapidly to shifting demands and priorities, and will be focussed on providing a responsive service to the Head of Pension Fund Investment. This will mean that the post holder needs to be flexible and adaptable, with a high level of professional credibility.

Main areas of responsibility

• Working with the Pensions Accounting team in being responsible for ensuring accurate accounting records for the Pension Fund and in particular to the Pension Fund closedown process at year end and to actively contribute to the Pension Fund Annual Report and Accounts ensuring the accuracy of the financial, performance and statutory information included.

• To be responsible for the collation, monitoring and reconciliation of the pension fund contributions and to liaise with employers and the third party administrator to ensure payment of contributions (employer and employee) is in line with regulatory requirements.

• To manage the pension aspects of TUPE arrangements undertaken by the Council and other employers. This includes arranging all necessary documentation including contractual arrangements, financial aspects (including contribution rates) and ensuring that staff subject to TUPE are kept informed of their pension arrangements.

• To calculate employer contribution rates for new employers as they enter the Fund following a TUPE exercise. To liaise with the Funds actuary in regard to the calculation of cessation valuations when employers exit the Fund, either as contracts cease or when the last active member has left their employment. To ensure the receipt of any exits deficits from employers, and the payment of any exit credits to employers, where required.

• To be responsible for informing all employers in the Fund of their contribution rates following the triennial valuation exercise, ensuring their payroll providers are updated with the appropriate rate changes.

• To arrange for additional administration charges to be raised against employers not complying with the Pension Administration Strategy.

• To assist in compiling a range of Pensions Committee and Pensions Board papers covering around 8 meetings per year on a wide range of pension related reports and to make recommendations to the Head of Service where required.

• To play a key role alongside the Head of Service to deliver pension related procurements across the section as required, including working on tender documentation, evaluation of contractor submissions, compiling Committee papers and making recommendations on the appointment of providers.

• To provide operational cover for the Treasury function when required deputise for the Treasury & Banking Officer in their absence with responsibility and be responsible for the daily treasury operations. When required, the postholder will be responsible for ensuring that the Council has sufficient cash to meet its daily cash flow requirements and for investing any surplus cash in accordance with relevant law and Council policy.

• To provide accurate financial information as necessary for statistical returns, Freedom of Information requests and other information requests (internal and external), as required by the Head of Service.

• To liase with the Fund Actuary to deliver employer accounting reports to fund employers.

• To assist the Group Accountant with information requests and reconciliations required by the Fund Actuary to aid the actuarial work on funding and investments.

• To arrange payment of allowances for Pension Board members and Pensions Committee members for agreed oversight and governance services carried out in their roles.

• To work with the Head of Service to ensure suitable governance arrangements are in place for the Fund and that these meet the requirements of relevant legislation, guidance and Codes of Practice.. This includes maintaining a register of conflicts of interest , a register of breaches and assisting with the completion of scheme returns to the pensions regulator.

• To undertake other duties commensurate with the grading of the post as may be determined.

Essential requirements

• Ability to self-manage to meet deadlines in accordance with management or corporate reporting timetables, including demonstrable ability to manage multiple tasks and projects.

• Ability to interpret complex financial and legislative information and assess the implications for projects across the directorate.

• Ability to interpret and communicate complex financial and legislative information effectively to a wide range of internal and external partners and stakeholders.

• Ability to demonstrate a track record of applying strong analytical skills and lateral thinking to develop creative and innovative service solutions.

• An understanding of issues affecting the LGPS but also a wider appreciation of pension issues.

• An understanding of procurement in Local Government.

• Ability to establish and maintain communication with internal and external individuals and groups of all levels of seniority on complex and potentially difficult/sensitive issues.

• Can identify creative/innovative ways to maximise financial and other resources – consistently strives to do more with less.

• Takes on challenging tasks and assignments and is able to develop new skills and take on new areas of work in line with the needs of the organisation and the team.

• Keeps abreast of latest thinking, new trends and developments in a wide range of relevant areas and applies/takes action accordingly.

• Required to work outside of normal office hours and to attend evening meetings or committees, for which no overtime will be paid.

Certifications and qualifications

• Qualified or nearly qualified CIPFA/ACCA or equivalent or equivalent by experience.

• Broad ranging experience within a financial environment.

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• Good IT skills and the ability to use a wide range of IT packages to an advanced level including Microsoft Excel, financial information systems.