Vice President, Pension Policy & Funding
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Reporting to the President and CEO, the Vice-President, Pension Policy & Funding is a key member of the senior management team and leads the development and implementation of pension design, benefits administration and funding policies to support the LAPP Sponsor Board, LAPP Corporation Board of Directors (Board of Directors) and the CEO in the prudent management and administration of the Local Authorities Pension Plan. Primary areas of responsibility include providing pension policy and funding advice, information, education, research and analysis directly to the LAPP Sponsor Board, Board of Directors and CEO; working with the Plan actuary to provide sound advice to the Boards on funding and related issues; and overseeing the performance of LAPP’s pension administration services provider, Alberta Pensions Services Corporation (APS).
KEY ROLES & RESPONSIBILITIES
Pension Policy and Funding
- Provide research and policy advice on a wide variety of issues affecting pension design and management of the liabilities of the Plan.
Manage all actuarial services to the Plan, including supervising third-party actuarial consultants to complete the annual actuarial valuation cycle in accordance with the Sponsor Board’s Funding Policy and applicable regulatory requirements and providing other general actuarial services and funding advice to the Boards.
Work collaboratively with the VP, Investment Policy and Oversight to provide coordinated advice to the Board on assets and liabilities, including through periodic asset-liability management studies and ongoing modelling and assessment of Plan liabilities and funding / investment strategies.
Work collaboratively with the VP, Stakeholder Relations and Communications to acquire input from stakeholders on pension policy, funding and administration issues.
Proactively monitor and research pension policy; benefit administration; demographic, funding, economic and regulatory environments and trends; and advise the CEO and Boards accordingly.
Analyze the Plan text and recommend appropriate plan rule amendments where necessary.
Develop strategic and operational policies for Board approval and undertake ongoing reviews of all policies.
Implement, monitor and manage the Boards’ policy directives and projects.
Analyze, understand and ensure advice complies with governing legislation and regulations.
Work with regulators, both provincial and federal, to resolve regulatory issues.
Liaise as required with APS, Alberta Treasury Board and Finance staff, the Plan actuary and other external service providers to coordinate and optimize policy information and advice to the Boards.
Work with Government of Alberta officials to interpret and implement EPPA legislative requirements.
Together with other members of executive management play a leadership role in preparing and developing the pension policy, funding and administration components of an annual environmental scan of issues and risks potentially impacting the Plan.
Monitor LAPP's Benefit Administration by APS
- Monitor and assess APS performance and compliance with contractual and service delivery standards, including analyzing periodic performance and compliance reports.
- Analyze and advise on benefit administration and policy procedures in use, and recommendations presented, by APS.
- Review and develop service delivery standards and other benefit administration policies to ensure they meet the Plan’s needs and address areas of concern or risk.
- Represent LAPP in the operationalization of its services agreement with APS and develop recommendations for changes as appropriate.
- Work with performance measurement analytics to assess APS’s performance.
- Work with the VP Stakeholder Relations and Communications to ensure appropriate and required member communication and education materials, and materials for employer guidance are developed and provided.
- Oversee effective employer compliance programs for the Plan.
- Manage the overall relationship with APS, including joint development of projects and priorities.
Other Plan Administration Support
- Support the implementation of the adjudicative function for addressing member appeals of administrative decisions, including attending member hearings, working with internal or external legal counsel and assisting with the drafting of decisions.
- Review applications by employers to join LAPP and make recommendations to the Sponsor Board, as applicable.
- Undertake special projects or studies as required by the CEO or the Boards.
- Support the VP, Finance and Risk by providing input related to pension policy, funding and administration risks to the LAPP Enterprise-Wide Risk Management program.
- Work with management colleagues to identify and develop risk mitigation and risk response strategies, and monitor the progress of such strategies.
Communications with LAPP Stakeholders
- Respond to inquiries from stakeholders, with information, advice and decisions.
- Prepare and deliver presentations to various Plan stakeholders throughout the province regarding pension policy and funding matters.
- As a member of the senior management team, jointly responsible for strategic management of LAPP, including strategic planning, and for effective and efficient management of services provided by LAPP.
- Implement specific policy directives and projects as required.
Qualifications & Education Requirements
The ideal candidate:
- A bachelor’s degree in a related discipline (law, political science, commerce, economics, or similar) and a minimum of 10 years of progressively responsible experience in a managerial or professional position in a pension environment is required.
- A designation as an accredited actuary (a Fellow of the Canadian Institute of Actuaries) is highly desirable.
- A post-graduate degree in business is desirable.
Knowledge, Skills & Attributes
- Experience in a pension plan environment.
- Knowledge of pension principles and theories.
- Knowledge of actuarial and financial principles and theories.
- Knowledge of legal principles is desirable.
- Experience in a government environment is desirable.
- Proven managerial abilities are required, including leadership, team-building skills, superlative interpersonal communications skills, an ability to think and act strategically, sound judgement and personal ethics.
Skills and Abilities
- Superlative communication skills (written, verbal and presentation) including an ability to explain complex concepts in plain language.
- Strong ability to access, analyze and synthesize a diverse range of information and creatively formulate logical, credible and politically sensitive solutions to problems.
- Strong ability to work directly with and advise large and diverse Boards.
- Strong ability to support the CEO with advice and information.
- Ability to build professional and productive relationships with colleagues and diverse stakeholders.
- Ability to think strategically and creatively.
- Ability to understand and work with several professional disciplines, and use financial accounting, actuarial and statistical data.
- Ability to work with stakeholders from both management and labour.
- Ability to speak to stakeholders’ meetings and to the public.
- Ability to analyze technical materials, legislation, regulations and legal agreements.
- Ability to deal with public policy and political issues.
- Ability and aptitude to stay current by upgrading skills, researching best practices in pension management.
- Ability to proactively identify, manage and mitigate risks and issues.
- Highly motivated and comfortable working independently, but within a collaborative and team-oriented approach.
- Results-oriented and an effective manager of time and resources.
- Strong customer and client service focus.
- Project management skills.
- Ability to work in fast paced, stressful, politically sensitive, changing and uncertain environment.
- Ability to delegate to and supervise performance of junior staff members.
A competitive compensation package will be provided including an attractive base salary and excellent benefits. Further details will be discussed in a personal interview.
For Information Please Contact
Ardyce Kouri or Sonny Kapoor
Leaders International Executive Search
Suite 501 Fox One
10226 – 104 Street
Edmonton, AB T5J 1B8