Pension Administration Financial Specialist
The Pension Benefits organization offers a fast-paced, dynamic environment requiring strong analytical skills and knowledge of or the desire to become knowledgeable in the area of defined benefits and non-qualified plan administration and supporting legacy systems. The Pension Benefits organization administers a defined benefit plan for over 20,000 participants using an in-house system, 3rd party web-based products and services, and various Excel and Access programs and macros. This position facilitates the alignment and improvement of policies, processes and programs.
Without appreciable direction, applies expertise to directly contribute to the technical/functional aspects of pension administration. Exercises considerable latitude in determining objectives and approaches to assignments.
50% - Plan and leads projects; and performs tasks and analyses related to :
1. Current pension administration and/or benefit calculations;
2. Development of new approaches and methods in support of pension administration objectives;
3. Data and calculation analyses;
4. QDRO processing;
5. Analysis and documentation of plan provisions or processes; and/or
6. Internal, defined benefit or SOX audit requirements.
Performs complex analyses, makes recommendations for solutions and facilitates cross-functional interactions for process improvements. Documents processes and procedures in compliance with SOX. Performs analysis of benefit provisions, data and calculations, reconciliations, validation and generation of reports meeting internal financial, regulatory compliance and SOX reporting requirements. Provides input to department objectives and long-range goals. Keeps current within area of specialty in support of project assignments.
35% - Performs analyses to complete the annual valuation processes working within established internal and SOX controls and processes. May interface with the Plan actuary, pension administrators and/or the pension technical team to provide accurate census data, making recommendation for and executing changes. Responds to actuary data questions. Reviews and analyzes status/progress and prepares variance analysis reports apprising management of trends and anomalies which effect benefit calculations.
15% - Works on special projects as requested, including providing solutions to complex pension benefit problems including documentation, evaluation and testing related to system upgrades implementation, including: mapping of past and future practices; highly complicated benefit calculations; historical data analyses; current and future source data. Implements operational controls including SOX. Recommends and performs process improvements and corrective actions
Analytical skill to evaluate, prioritize, and categorize data in various forms and formats. Must demonstrate advanced skills in MS Excel and MS Access. Demonstrates strong analytical skills and ability to provide leadership to projects with focus on work product quality and efficiency. Capable of working well under pressure and able to prioritize multiple projects. Excellent communication skills with hands-on approach to process improvement and effective problem resolution. Requires an individual who is independent, self-motivated, a team player and who embraces the challenges of change. U.S. Citizenship, Permanent Residency or other status as a U.S. Person required
Bachelor’s degree in Business Administration, Accounting or Finance required; CPA / MBA preferred. Requires at least 10 years of experience or an equivalent combination of education and experience in retirement benefits, finance, accounting, audit and/or systems development. Experience in defined benefits strongly preferred. Must demonstrate advanced skills in MS Excel and MS Access. Demonstrates strong analytical skills and ability to provide leadership to projects with focus on work product quality and efficiency. Capable of working well under pressure and able to prioritize multiple projects. Excellent communication skills with hands-on approach to process improvement and effective problem resolution. Requires an individual who is independent, self-motivated, a team player and who embraces the challenges of change. U.S. Citizenship, Permanent Residency or other status as a U.S. Person required.
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