Sr. Specialist, Pension Accounting

5 months ago

Toronto, Canada Healthcare of Ontario Pension Plan Full time

Why you’ll love working here:

high-performance, people-focused culture

our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves

membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security

competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, and newly extended maternity/parental leave top of 26 weeks)

optional post-retirement health and dental benefits subsidized at 50%

yoga classes, meditation workshops, nutritional consultations, and wellness seminars

access to an annual wellness reimbursement program for health and wellness-related expenses for permanent and temporary employees

the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

Job Summary:

Reporting to the Manager, Pension Accounting, the Senior Specialist, Pension Accounting Operations is primarily responsible for the execution/processing of:

1. Daily banking transactions such as incoming employer/member contributions, recovered benefit overpayments, and updating benefit payments status in the pension administration system;

2. Pension benefit payments and associated taxes; and

3. Refunds to members/employers.

What you will do:

Pension Accounting Operations

Process incoming payments which include contributions from employers and members and recovered benefit overpayments and ensure these are recorded accurately, completely and in a timely manner in all financial systems.

Process all pension benefit payments (monthly pension payroll, terminations, transfers, etc.) and associated taxes and ensure these are recorded appropriately in all sub-ledger systems and the general ledger.

Update member benefit payment records for any payment status changes (returned/missing/ cleared cheque payments) in the pension administration system.

Process contribution refunds to employers or members and ensure these are processed accurately, completely, and timely manner as per approved instructions from Plan Operations.

Work with various stakeholders within and outside of HOOPP to ensure that pension transaction related issues are identified, investigated, escalated as needed, and resolved in a timely manner.

Collaborate with the Plan Operations team to ensure service level agreements are understood, maintained and adhered to that would ensure positive employer/member experience.

Provide support to other team members in addressing/resolving operational issues and member inquiries or concerns. Document and maintain business procedures relevant to the job function.

Participate in team initiatives or special projects when required.

Governance, Risk and Controls:

Recommend ways to improve the efficiency of operational processes while ensuring strong internal controls remain and assist in the implementation upon approval by the Manager.

Update pension process narratives and participate in the quarterly ICFR attestation on core pension processes in support of the ICFR program, as delegated

Assist the divisional audit contact for Pension Accounting in responding to questions and providing information relating to pension accounting processes requested by internal and external auditors, as delegated

Assist in the department business continuity program on assigned processes, as appropriate, and participate in the plan readiness as required.

What you bring:

University degree in Finance or Business.

2+ years’ finance industry experience.

Proficiency in Microsoft office products (Excel, Word, PowerPoint, Planner, Outlook).

Experience in large ERP with good understanding of sub-ledger to GL process flow an asset

Experience in an automated Pension environment an asset

Detail-oriented, organized, and thorough in managing deliverables.

Strong interpersonal and communication skills (verbal and written) with the ability to build relationship with team members and stakeholders.

Self-motivated, highly focused, ability to deliver with little to no direction.

Strong ability to effectively collaborate in a remote environment.

Ability to manage routine and high-volume work while meeting tight deadlines

Eager to learn and willing to assume expanded responsibilities as required.

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