Specialist, Pension Operations

University Pension Plan Ontario; Toronto; Hybrid; CAD 65,000 - 90,000; Full time

Job summary

University Pension Plan Ontario is seeking an experienced Pension Services professional to join our team in downtown Toronto. Reporting to the Manager, Complex Transactions, you will reconcile membership pension data and report key measures to stakeholders, while supporting transactions and the Client Experience team as a subject matter expert.

The role is hybrid, based in Toronto with about two days in the office each week, and offers opportunities to influence pension administration across UPP

Qualifications

• Completed college diploma or university degree with 3+ years of strong pension administration experience.
• Experience with defined benefit, defined contribution and hybrid plans.
• Ability to read and interpret pension plan texts and translate provisions into operations.

Responsibilities

• Serve as subject-matter expert on UPP plan provisions and reconcile membership pension data.
• Calculate pension benefits using system tools and offline calculators; review transaction cases and payment streams.
• Monitor employer transactions, including contributions data, and ensure timely data recording and reconciliation.

Skills

Pension administration

SQL

Power BI

Excel VBA

PowerAutomate

Data visualization

Reporting

Data reconciliation

Member data handling

Education

College diploma

University degree

Job description

The Role

Reporting to the Manager, Complex Transactions, this is a fantastic opportunity for an experienced Pension Services professional to join a team of high performing professionals to make a great impact.

You will be involved in a variety of activities within Pension Services and provide subject-matter expertise on the UPP and participating universities’ prior plans. Your role will include acting as a team lead to reconcile membership pension data and reporting key measures to stakeholders. The role also includes supporting the transactions and payroll team and interacting with the Client Experience team as a subject matter expert.

This role is based in downtown Toronto under a hybrid work policy, allowing employees the flexibility to work remotely and in-office (approximately two days per week in-office).

This posting is for an existing vacancy.

Specific Accountabilities

UPP is uniquely positioned in its flexibility to build an internal foundation from the ground up. We approach this build thoughtfully and methodically, with a careful focus on building a strong base, operational efficiency and excellent member and employer experience. We are creating a digitally enabled service experience for our members.

Pension Administration

• Become a subject-matter expert of UPP plan provisions.
• Calculate pension benefits using system tool, along with offline calculators.
• Assess feasibility of workarounds for system-generated member calculations.
• Peer review transaction cases and payment streams.
• Monitor employer transactions, including the collection, recording and reconciliation of contributions and data.
• Ensure compliance with the pension plan text, all legally prescribed timelines, and internal policies; ensure that all data is accurate and comprehensive.
• Ensure all benefit payments, including monthly pension payroll, are paid accurately and on time via the trustee.
• Prepare and/or coordinate statutory reporting requirements, such as annual member statements, pension adjustments, and quarterly pension adjustment reversals.
• Remain current on pension benefit trends, practices and procedures, and evaluate and recommend adjustments.
• Other projects and activities, as assigned.

Service Delivery

• Deliver best-in-class service to our members, participating employers and universities.
• Act as a primary contact for queries regarding member data, contribution data captures, and connecting with client Experience Team.
• Recommend improvements to pension administration.
• Guide team on delivering services with legislation timelines.
• Provide accurate and timely reporting to all stakeholders regarding general and specific provisions of the benefit and pension plans.
• Exhibit an ability to listen, negotiate and communicate goals; share knowledge, experience, and responsibility with the team to achieve the highest standards of professionalism.

Qualifications & Experience

• Completed college diploma or university degree with 3+ years of strong pension administration experience in the pension or financial services industry.
• Experience in a broad range of pension plans, including defined benefit, defined contribution and hybrid plans.
• Experience reading and interpreting pension plan texts and translating provisions to be used operationally.
• Strong ability to self-diagnose member data issues correctly.
• CEBS or PPAC would be an asset.
• Experience working with university pension plans related to UPP would be a strong asset
• Experience coding SQL, Data visualization (PowerBI/Domo), Mail Merge, PowerAutomation, Excel VBA, and Reporting best practices would be a strong asset.

Attributes

• A passion for delivering a great pension experience from enrollment to retirement, with a proven ability to develop and maintain effective working relationships.
• Good numeric skills to ensure accuracy in calculations of pension entitlements, payments and deductions.
• High emotional intelligence.
• Self-motivated, flexible, and adaptable to changing priorities and new challenges.
• Logical and detail oriented.
• Strong commitment to innovation and continuous improvement.
• Ownership mindset.
• Strong conflict resolution skills to manage complaints and escalations from members and employers.
• Strong oral and written communication skills and an ability to communicate complex information clearly and at a level appropriate for the member and employer.
• Professional, client-focused approach to colleagues and assignments.
• Seeks out experiences that may change perspective or provide an opportunity to learn new things.
• Ability to organize, set priorities and work independently.
• Excellent judgment and clear and precise communication skills, including a high degree of diplomacy and confidentiality with the ability to adapt communication style to the audience.