Job Details
Minimum Criteria:
1. Must have experience of doing a similar role for a large local authority
2. Experience of both Pensions and Treasury
3. CIPFA (or other CCAB) qualified
The Head of Pensions & Treasury is lead officer for the in-house pensions team that manages the Barnet Local Government Pension Scheme and provides outstanding leadership and direction on all pension related issues to Barnet Council. You will manage the team that has day-to-day accountability for implementation of pension policy and oversight of external service providers including investment managers, third party administrator, consultants and advisors. You will provide guidance and support to Barnet’s Pension Fund Committee and Local Pension Board in carrying out their duties.
You will be required to ensure that the Barnet Pension Scheme is efficiently administered, that members and participating employers receive a high quality service, that funds are invested in line with agreed strategy, funding policy is optimised, statutory policies are kept up to date and the annual accounts are produced and audited on a timely basis.
You will lead the development and implementation of the Council’s Treasury Management Strategy linked to the Council’s Medium Term Plan. The Head of Pensions and Treasury is expected to provide advice to the S151 officer and elected representatives to inform their Treasury management decision making and will be responsible for maintaining a robust controls framework for the function and delivery under the Treasury policies and practices detailed within the Strategy.
1. Purpose of Job:
The Head of Pensions & Treasury is lead officer for the in-house pensions team that manages the Barnet Local Government Pension Scheme and provides outstanding leadership and direction on all pension related issues to Barnet Council. You will manage the team that has day-to-day accountability for implementation of pension policy and oversight of external service providers including investment managers, third party administrator, consultants and advisors. You will provide guidance and support to Barnet’s Pension Fund Committee and Local Pension Board in carrying out their duties.
You will be required to ensure that the Barnet Pension Scheme is efficiently administered, that members and participating employers receive a high quality service, that funds are invested in line with agreed strategy, funding policy is optimised, statutory policies are kept up to date and the annual accounts are produced and audited on a timely basis.
You will lead the development and implementation of the Council’s Treasury Management Strategy linked to the Council’s Medium Term Plan. The Head of Pensions and Treasury is expected to provide advice to the S151 officer and elected representatives to inform their Treasury management decision making and will be responsible for maintaining a robust controls framework for the function and delivery under the Treasury policies and practices detailed within the Strategy.
2. Key accountabilities:
Pensions
The post is responsible for the investment, administration and financial governance of the Pension Fund including:-
• accounting, budgeting, financial information, monitoring and control of the accounts of the Pension Fund;
• liaising with investment advisor and Fund Managers to ensure that investment strategies are designed to realise optimised returns for the Fund;
• ensuring employers and members receive a high quality administration service
• advising the Fund on governance matters;
• managing relationships with, and the provision of information to, Fund employers;
• and ensuring the pension fund has sufficient liquid cash to meet its commitments and that cash balances are secure and efficiently managed.
Lead on the strategy development and implementation responsibilities of the Pension Fund Committee and Local Pensions Board. These include supporting elected representatives under the proper governance arrangements and the Head of Pensions is expected to provide unfettered advice to elected representatives to inform their decision making.
In liaison with the Scheme Actuary ensure a cost efficient funding policy is developed and that admissions and cessations are processed promptly.
Undertake effective governance of the Pension Fund including strategy implementation through development of corporate governance arrangements, risk management and reporting frameworks, and corporate decision-making arrangements.
Oversee the effective administration of LGPS membership arrangements including meeting key performance targets, resourcing, and compliance.
Ensure that all activities comply with the council’s constitution, Standing Orders, financial regulations, health and safety and safeguarding responsibilities and that effective systems operate manage performance and risk.
Interpret and implement legislative and regulatory requirements including The Pension Regulator’s Code of Practices
Lead on the closure of the Pension Fund accounts, support the external audit opinion and deliver appropriate financial returns
Deliver an effective system of financial controls for all pension related activity
Represent the Barnet Fund within the London CIV pool to provide strategic direction and development of the Fund’s role within the asset pool.
Treasury
Responsible for the preparation and maintenance of the Treasury Strategy, Policies and Procedures.
Continually reassess the Council’s treasury position in light of current developments both within the Council’s capital programme, and within financial markets generally in order for the Council to optimise its position in relation to long term financing options.
Manage the Council’s cash flows, short term investments, short term borrowing and long term borrowing, ensuring compliance with the Council’s approved Treasury Management Strategy Statement.
Assess financing opportunities for the Council, and to advise the Director of Resources around the most opportune sourcing, duration and timing of long term borrowing.
Publish various treasury reports in accordance with the CIPFA Treasury Management Code of Practice to inform members of treasury activity, and to lead on the creation of the annual Treasury Management Strategy Statement.
Actively support the S151 Officer with their constitutional responsibilities in relation to treasury management via the provision of strategic advice, information and horizon scanning to enable them to exercise sound judgment, which is in the best interests of the Council.
Monitor, liaise and review performance of the council’s treasury management advisor.
Advise on investment and funding strategies including investment risk and performance.
Proactively seek and identify commercial opportunities that generate income and provide innovative solutions to service delivery challenges.
Provide financial and investment support to decision making throughout the Council.
3. Leadership and Management:
• Provide leadership that encourages staff to recognise their contribution to the strategic objectives the council has set.
• Foster a high-performance culture including carrying out internal service reviews to improve value for money and efficiency.
• Lead and effectively motivate staff by providing coaching, mentoring, training, professional development opportunities, and appropriate performance management
• Build a credible and responsive team who are respected for their depth of knowledge, expertise and customer focus.
• Deputise for the Director of Resources as required.
• Manage the delivery of cross cutting projects through matrix management.
• Enable and encourage a flexible working environment.
4. Change and Improvement:
• Lead, develop and ensure implementation and review of change management programmes to deliver continual improvement.
• Proactively seek and identify commercial opportunities that generate income and provide innovative solutions to service delivery challenges.
• Proactively seek and take responsibility for implementing internal process improvements, demonstrating the business case for change and benefits achieved
• Instigate, develop and support opportunities for council-wide transformation and alternative service delivery models
• Contribute to the creation of a new digital culture within the service by embracing technology in every-day activities and actively seeking digital improvement opportunities in support of a service-wide digital strategy
5. Staff Responsibilities:
• Managing a team of between 6 staff members
6. Financial Responsibilities:
• Responsible for monitoring a Pension investment portfolio of £1,500 million and the control of income and expenditure with a combined annual value of £150 million within the Pension Fund.
• Managing long and short term borrowing of £500 million and short-term cash balances of up to £150 million.
7. Health and Safety Responsibilities:
• Ensure safe and efficient delivery of service by achieving high standards of health and safety and reducing risk.
8. Other Responsibilities:
• None
9. Promotion of Corporate Values
• To ensure that customer care is maintained to the agreed standards according to the council’s values. To ensure that a high level of confidentiality is maintained in all aspects of work.
10. Flexibility
• Work with a degree of flexibility required to perform work not specifically referred to above although falling within the scope of the post at the appropriate grade.
11. The Council’s Commitment to Equality
• Deliver the council’s commitment to equality of opportunity both in the provision of services and as an employer. Promote equality in the work place and in the services the council delivers.
Umbrella Day Rate – £800.00
