Manager, Faculty Pension Plan

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Job Profile

Job Title

Department

Compensation Range

The Compensation Range is the span between the minimum and maximum base salary for a position. The midpoint of the range is approximately halfway between the minimum and the maximum and represents an employee that possesses full job knowledge qualifications and experience for the the normal course employees will be hired transferred or promoted between the minimum and midpoint of the salary range for a job.

Posting End Date

Note: Applications will be accepted until 11:59 PM on the Posting End Date.

Job End Date

At UBC we believe that attracting and sustaining a diverse workforce is key to the successful pursuit of excellence in research innovation and learning for all faculty staff and students. Our commitment to employment equity helps achieve inclusion and fairness brings rich diversity to UBC as a workplace and creates the necessary conditions for a rewarding career.

Job Summary

The UBC Faculty Pension Plan (the Plan or FPP) is among the most valued benefits offered by UBC and helps faculty and administrative executive staff invest and save for their financial future and retirement. The UBC Supplemental Arrangement is an extension of the FPP. FPP members who have reached their maximum annual contributions to the FPP will have their excess contributions directed to the UBC Supplemental Arrangement. Both Plans are administered by the UBC Pension Administration Office (PAO) under the direction of the UBC Faculty Pension Board and in partnership with the VP Human Resources (VPHR) Portfolio.

The FPP is a defined contribution pension plan with just over 7350 members and an asset value of approximately $3.4 billion. The UBC Supplemental Arrangement an extension to the FPP has approximately 1400 members and $145.6 million in total assets.

The Manager is responsible for providing strategic leadership and managing clerical and professional staff for member servicing the administration and co-administration with Sun Life of the Faculty Pension Plan (FPP) the Supplemental Arrangement (SUPFAC) and the Employee Benefit Plan (EBP) utilizing knowledge in all areas of retirement income domestic and international taxation investment and cash flow planning and other broad aspects of estate planning.

Responsible for answering enquiries from members other UBC departments and the Plans service providers as required. Leading and managing the team and fostering a collaborative environment to ensure that the Plan administration is efficient and effective with member service being the key focus.

The Trustees of the FPP the University and the UBC Pension Administration Office or its respective employees do not provide financial advice nor endorse any particular advisors.

Organizational Status
This position reports to the Director Pensions. Consults with the Executive Director Pensions and others in Accounting and Finance IT and Communications as well with other University department. Directly supervises the Faculty Pension Plan administrative clerical and professional staff.

The Manager works closely with the Plans service providers such as the recordkeeper custodian actuary and other third party financial suppliers. Manages key external relationships with outside agencies such as CRA and the BC Financial Services Authority (BCFSA) to ensure the Plans administration adheres to rules legislation and privacy laws.

Work Performed

• Provides strategic leadership and manages a team of clerical and professional staff which includes recruiting evaluating disciplinary action and terminating. Fosters and mentors an environment that supports training and continuous learning and develops and implements annual work plans. Ensures staff are well trained and are pursuing jointly determined developmental objectives. Leads and manages staff in establishing priorities and determining deadlines to manage overall workflow.

• Analyses and makes recommendations to Director Pensions for the need and cost of additional resources to meet strategic goals and objectives.

• Provides strategic advice on best practices and collaborates with senior management to review develop and implement pension governance model to ensure the Plans are being managed in accordance with the goals and objectives of the Board and meet specific fiduciary criteria required by various and communicates regularly with other pension administrators from the industry to ensure best practices are being followed. Facilitates group discussions to achieve required outcomes.

• Co-administers services delivered by the recordkeeper/custodian with oversight to ensure service level adherence and timely issues resolution.

• Manages monthly quarterly and yearly administrative schedules with the administrative team. Develops and implements a year-end schedule. Manages the pension plan year end process with team members.

• Provides leadership and mentorship to staff by being fully knowledgeable on practices relating to eligibility contributions member termination or retirement and government legislation. Develops and documents procedures relating to the functions of the Plans including the annual audit maintaining an Operations Guide and leading the team on required operational standards.

• May conduct individual meetings with members and their spouses to provide guidance relating to issues of retirement planning retirement income and other retirement benefits as well as guidance on member death or marriage breakdown.

• Manages member servicing staffs delivery of presentations and seminars to meet member expectations and increase engagement.

• Manages the annual Variable Payment Life Annuity (VPLA) and reviews all data and information sent to the actuary and oversees the reconciliation of VPLA membership on an annual basis.

• Manages the compliance and consistency of member communications and records to support the legal and legislative requirements.

• Keeps abreast of changes to pension legislation including the Pension Benefits Standards Act and Regulations the Income Tax Act and Family Relations Act as they relate to pensions.

• Researches interprets and analyzes changes to legislation to identify areas of the Plan Texts that may be non-compliant or inconsistent. Develops strategies to resolve inconsistencies in consultation with senior management and the Plans actuaries and consultants.

• Manages the Supplemental Arrangement Annual Report.

• Collaborates with the Manager Pension Operations and Member Experience and the Communications Coordinator on the design of new communication print and web content. Develops communication strategies with team members and other UBC employees on issues relating to the Plans.

• Writes communications as required by Director Executive Director or Board members.

• Performs other duties as required.

Consequence of Error/Judgement

Good judgment to convey information in a credible transparent objective and a non-prejudicial manner. Inappropriate or inaccurate information places the FPP the Board of Trustees and the Pension Administration Office in a position of significant financial and reputational risk and possible liability. The Board of Trustees maintains the fiduciary responsibility for the FPP and places heavy reliance on the highly professional execution of services offered by the FPP in dealing with the membership.

All member information is confidential and staff must be familiar with the Freedom of Information and Protection of Privacy Act of British Columbia. All staff must be constantly aware that no one including a members manager Director or Dean is permitted to have access to any information. There is zero tolerance for a conscious breach of confidentiality.

Supervision Received
Receives direction and guidance from the Director Pensions. May solicit advice but resolves situations independently and utilizes own judgement and decision making. Given broad latitude to exercise independent judgement in problem solving and in the administration of the pension plan. The Director Pensions is advised of any technical problems and matters involving policy.

Supervision Given
Manages and provides leadership and guidance to the FPPs clerical and professional staff.

Minimum Qualifications

• Undergraduate degree in a relevant discipline. Minimum of five to seven years of related experience or the equivalent combination of education and experience.

• Willingness to respect diverse perspectives including perspectives in conflict with ones own.

• Demonstrates a commitment to enhancing ones own awareness knowledge and skills related to equity diversity and inclusion.

Preferred Qualifications

• Certified Employee Benefits Specialist (CEBS) or other related credentials is strongly preferred.

• Progressive experience in the pensions field working within a complex organizational depth knowledge of defined contribution pension plans and the ability to read and interpret Plan documents and government legislation.

• Strong understanding of pension legislation and regulatory requirements in British Columbia and industry best practices.

• In-depth knowledge of UBC and government benefit programs income tax regulations financial planning strategies and other retirement products.

• Commitment to professional growth staying current with industry trends and applying best practices in pension governance.

SKILLS

• Thorough knowledge of pension plan administration with excellent attention to detail.

• Strong people leadership skills with the ability to lead teams and foster collaboration.

• Strong interpersonal presentation oral and written skills with the ability to convey complex concepts to diverse audiences through both in-person and remote information sessions.

• Innovative and results-oriented with strong analytical organizational and problem-solving skills.

• Able to manage multiple priorities plan and lead projects and work effectively under pressure to meet deadlines.

• A solid orientation to computerized administration systems. Advanced computer proficiency using a wide range of tools including word processing and spreadsheet applications. Proficient in the use of standard reporting tools in pension administration systems to access information and be able to produce statistical reports when required.

• Prior experience with Workday an asset.

• Must be able to exercise tact and discretion and use sound judgement and diplomacy.