Senior Retirement Fund Specialist

4 weeks ago

Old Toronto, Ontario, Canada Ontario Teachers' Pension Plan Full time
Senior Pension Fund Administrator

Join our dynamic team at Ontario Teachers' Pension Plan.

Position Overview:

The Pension Fund Administration team is responsible for overseeing and managing the operations that ensure the prompt processing and precise maintenance of benefit payments and contribution records. The Senior Pension Fund Administrator is essential in facilitating the complete execution of pension payroll and contributions from members and employers in a timely and accurate manner.

Collaboration:

This position collaborates closely with various internal and external teams to deliver accounting expertise, resolve intricate issues, perform data analysis, and prepare pertinent reports.

Key Responsibilities:

  • Ensure accurate gross to net calculations and timely pension payments for pensioners, survivors, ex-spouses, and child survivors, adhering to relevant legislation.
  • Manage monthly payroll for pensioners and survivors, including statutory deductions and other necessary adjustments.
  • Reconcile database pre-file error reports and address discrepancies.
  • Review and rectify errors in pension service reports as per established schedules.
  • Implement spousal split agreements effectively.
  • Maintain service delivery standards by prioritizing tasks and following up as needed.
  • Assist payroll service providers in resolving ongoing issues related to payments and tax documentation.
  • Support the completion of retro payroll runs, monthly reconciliations, and reporting.
  • Contribute to year-end processing and reconciliation activities.
  • Assist with the annual inflation adjustment process for all pensioners.
  • Stay updated with legislative changes and reporting requirements.
  • Ensure accurate and timely employer remittance administration activities, impacting financial and tax reporting.
  • Monitor employer remittances and guide the Member Information Management team.
  • Investigate and resolve discrepancies in employer remittance payments through collaboration with Employer Relations.
  • Coordinate application of Federation Strike Payments across departments.
  • Prepare journal entries related to employer remittance payments.
  • Conduct month-end GL accounts reconciliation for employer remittance payments.
  • Collaborate with cross-functional teams to gather necessary data for remittance payments.
  • Perform data analysis on trends and consult with departments regarding irregularities.
  • Communicate financial statuses to relevant departments.
  • Assist in preparing compliance and audit reports.
  • Participate in cross-functional meetings and identify continuous improvement opportunities.
  • Support the creation and maintenance of internal procedures and training for new team members.
  • Occasionally provide coverage for related roles within the Pension Fund Administration team.

Qualifications:

  • Post-secondary education in Business Administration or Accounting.
  • A minimum of 4 years of experience in accounts receivable or payroll.
  • In-depth knowledge of the Income Tax Act and provincial legislation related to Pension Fund Administration.
  • Strong understanding of accounting principles and a solid mathematical aptitude.
  • Excellent verbal and written communication skills.
  • Proven analytical skills with meticulous attention to detail.
  • Demonstrated organizational skills with the ability to manage multiple priorities effectively.
  • High level of confidentiality and discretion.
  • Adaptability to changing environments.
  • Ability to follow established procedures and regulations.
  • Familiarity with the Teachers' Pension Act and internal processes.
  • Strong relationship-building skills in team structures.

What We Offer:

  • Competitive salary and benefits.
  • Opportunities for professional growth and development.
  • A flexible work environment that combines in-office collaboration with remote work options.
  • Employee discount programs.

At Ontario Teachers', we value diversity as one of our core strengths. We are committed to creating an inclusive workplace where all employees feel respected and empowered.

Application Process:

If you are ready to embrace new challenges and advance your career, we encourage you to apply. Accommodations are available for candidates with disabilities throughout the recruitment process.

About Us:

At Ontario Teachers, our talent is our greatest asset. We provide a work environment that fosters innovation, celebrates diversity, and rewards excellence. Join us in delivering exceptional service and retirement security to our members.

Your Talent. Your Experience. Our Future.

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