Director, Pension

1 month ago


Toronto, Ontario, Canada Mackenzie Financial Corporation Full time
Job Description

Grade: P9

Referral Level: Level 3

Division: IGM- Human Resource

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $252 billion in total assets under managements. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management and Mackenzie Investments

Under IGM Financial's unique business model based on leading brands and multi-channel distribution strategy is Mackenzie Investments, founded in 1967. Mackenzie Investments is a holistic asset-management partner for thousands of Canadian financial advisors and the investors they support.

At Mackenzie Investments You Can Build Your Career with Confidence.

We have a vision and a strategy that will challenge the way business in this industry is done and help Canadians be successful in the ways that mean the most to them. As part of our team, you will do some of your best work, develop some of your most valuable skills and give back in ways that make a difference in the lives of Canadians. We are proud to be recognized as one of Canada's Top Employers by Mediacorp Canada Inc. for empowering our employees with the tools to thrive while working remotely, while also providing resources to ensure physical and mental wellness were put front and centre.

Join an unstoppable team that is embedded in continuous learning, understanding, and knowledge sharing. You will thrive in our supportive environment where you can indulge your curiosity to learn, while receiving the feedback you need to refine your skills and abilities. We are dedicated to offering a hybrid work environment when applicable.

Mackenzie Investments is a diverse workplace committed to doing business inclusively - this starts with having a representative workforce We encourage applications from all qualified candidates that represent the diversity present across Canada - including racialized persons, women, Indigenous persons, persons with disabilities, 2SLGBTQIA+ community, gender diverse and neurodiverse individuals, as well as all who may contribute to the further diversification of ideas.

Position:

Responsible for the development and management of the pension, retirement and savings plan strategies for the IGM Group of Companies including the Defined Benefit Pension and SERP, Defined Contribution Pensions and SERPs, Group RRSP and Employee Share Purchase Plan. Lead the pension committee process and manage external vendor partnerships. Stay current on pension plan governance and funding requirements to ensure programs comply with provincial regulations.

Responsibilities:
  • Enhance the processes to managing multiple retirement and savings programs and integrate the approach with the broader Total Rewards strategy.
  • Legislative requirements - as the subject matter expert, monitor and identify emerging developments in legislative, regulatory or standards changes, assess the implications for the organization/industry and keep key stakeholders, including the legal team, pension committees and finance, informed of developments and the status of developing issues. Ensure all regulatory filings are done accurately and on time. Ensure all plan documents are reviewed and updated regularly.
  • Pension Committee Management - manage IGM pension committees, working closely with members and/stakeholders . Ensure ongoing documentation and book of record is maintained.
  • Risk Management - utilizing actuarial expertise, manage funding valuation requirements for the DB pension. As well, partner with key stakeholders in Finance on the year-end accounting for DB pension, DB and DC SERPS and the OPEB as well as the budgeted values for the DC pensions, Group RRSP and ESPP. This includes proxy disclosure where applicable. Monitor and identify emerging risks for all plans but in particular the DB pension and identify strategies to minimize risk. Monitor and forecast ongoing financial implications including cash flow for the DB pension. Review with external actuaries the impact of CIA, CAPSA and other changes on funding and accounting values. Lead annual indexing review and document the decision.
  • Vendor Management - collaborate effectively with pension partners and vendors to provide recommendations to manage and optimize performance of the pension plans and communicate with employees
  • Develop and lead the communications strategy to ensure plan members are educated and understand the retirement program they participate in andwhere applicable understand the impact of their investment choices
  • Partner with team members in the execution of the pension, retirement and savings programs to ensure operationally effective processes are clearly defined, transparent and support an optimal employee experience.
  • Strategic Initiatives: Actively participate or lead strategic initiatives as assigned. This could include for example a redesign of all pension and benefit programs or other matters requiring their analytic skills.
Qualifications:
  • 7-10 years of relevant expertise/experience specializing in pensions policy, administration and governance
  • University degree in a related field
  • Associate of the Society of Actuaries
  • Thorough understanding of pension legislation/regulations/financial and funding requirements
  • Thorough understanding of Defined Benefits pension plans
  • Consulting and communication skills
  • Coaching and mentoring cross functional team members and leaders
Please visit our career page by clicking on the following link:

We thank all applicants for their interest in Mackenzie Investments; however only those candidates selected for an interview will be contacted.

Mackenzie Investments is an accessible employer committed to providing a barrier free recruitment experience. If you require an accommodation or this information in an alternate format at any stage of the recruitment process, please reach out to the Talent Acquisition team who will work with you to meet your needs.

Please apply by August 14, 2024.

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