Job Details
- £50,000+ a year salary
- Permanent
- Full time
The purpose of the Fund is to meet all future pension liabilities of its scheme members, whilst at the same time seeking to minimise the contributions that need to be paid into the Fund by the employer bodies. The level of employer contributions is assessed every three years through an actuarial valuation of the Fund.
- The Wiltshire Pension Fund administers pensions on behalf of over 170 different employer organisations, ranging from local authorities, FE colleges, academies, charities and third party service providers.
- The Pension Team is responsible for the governance and administration of the Wiltshire Pension Fund. The LGPS benefits being administered amount to liabilities and assets currently valued at c£3bn.
- The correct administration is critical to ensure the Fund operates within various, complex regulatory requirements and avoids fines by the Pension Regulator along with the associated reputational risk.
- The management of the Fund’s assets and liabilities is attributable to its solvency and determines the level of contributions to be paid by employer’s organisations, a significant cost for them (circa. £40m per annum for Wiltshire Council alone) and for many smaller employers this has a direct impact on their financial viability.
- The Wiltshire Pension Fund ensures all pension benefits are paid correctly, on a timely basis and in line with the scheme regulations. It manages the relationships with the Fund’s 170+ scheme employers, overseeing the admission and cessation of these organisations.
- It monitors and reviews the investment strategy of the Fund and brings forward proposals for improvement as appropriate to ensure the assets and costs of the Wiltshire Pension Fund are accounted for and reported correctly and legally.
- Investment manager services are procured on behalf of the Fund via the Brunel Pension Partnership, of which the Fund participates together with 9 other LGPS Funds.
- It procures actuarial services and other third-party providers which value more than £7m and to ensure the continual development and enhancement of the pension administration service by improving performance and appropriate development of IT.
Job Purpose:
- The Fund Governance Manager is responsible for developing and implementing the Wiltshire Pension Funds regulatory framework and governance assurance system. They will act as the key contact with stakeholders on governance matters, including the Pension Committee, Local Pension Board, Pension Services Management Team and other officers, the Pensions Regulator, Fund Managers, Actuary, scheme employers and other
external professionals. - They will support the Head of Wiltshire Pension Fund in managing the Pension Fund Committee and Local Pension Board, including developing agendas, producing and presenting reports, ensuring appropriate objectives and strategies are in place, monitoring risk management and ensuring audit recommendations are addressed.
- They will support the development, maintenance and reporting of all governance processes, ensuring that they are implemented and measured to confirm they are improving organisational effectiveness, efficiency and customer focussed outcomes which is regularly reported to the Pension Committee and Local Pension Board.
- They will support Pension Fund procurement exercises where required, and will have overall responsibility for contract management, overseeing supplier performance and contract extensions and re-tendering as appropriate.
Specific requirements for this post:
- To be the main point of contact within the Pension Team on all matters relating to pension scheme governance, the Pensions Regulators Code of Practice 14 and all relevant statutory and non-statutory guidance impacting public sector schemes. Any material breach of this Code must be reported to the Penson Regulator, via the Local Pension Board who may impose fines on Wiltshire Council or civil prosecutions against individuals
- To be responsible for all Fund governance arrangements, leading the development and implementation of the Funds wide-ranging governance related objectives set out in its business plan, reviewing these regularly and ensuring appropriate procedures are in place to measure success of achievement.
- Leading on the extensive requirements set out in the General Data Protection Regulations (GDPR), working with the other members of the Management Team to ensure compliance is achieved and where any breaches are identified that these are recorded and reported within the statutory timescales.
- Ensure any changes to processes required as a result of a GDPR are agreed and implemented within agreed timescales.
Essential
• A degree and relevant professional qualification such as (IPPM, PMI, CII) or related discipline (or ability to demonstrate skills at the required level)
• Extensive knowledge of the LGPS Regulations
• Significant previous experience of providing governance services to a large defined benefit pension scheme, with reference to Committee management and national LGPS governance standards
• Ability to demonstrate good governance and best practice in a pensions environment through compliance with industry standards and evidence of system and process improvements.
• 5 years’ experience of working in administering a large defined benefit pension scheme
• Excellent knowledge of defined benefit pension scheme management and the major factors and issues involved in pension service delivery such as the administrative, operational and financial elements.
• Significant knowledge and experience of business planning
• Extensive knowledge and experience of procurement and compliance standards
• Excellent knowledge and experience of developing and delivery training programs to a diverse audience.
• Significant experience of working in a complex environment with conflicting priorities and financial issues
• An excellent record of delivering tangible results in a complex environment
If you think this job role is for you, please send your CV to rebeccabentum@carringtonblakerecruitment.com
