The Essex Pension Fund has one of the largest numbers of admitted employers within the LGPS, due to the large numbers of school/academy conversions and growth is accelerating, owing to the demands of new delivery models. The Employer Team is at the forefront of meeting the challenges of such a rapidly expanding employer population.
The Employer Analyst will deliver and implement the Funding Strategy, pro-actively engage with the Fund Actuary and employers, to establish and communicate actuarial principles, coordinate the production of full valuations, employer specific admission/cessation assessments, pension accounting disclosures, plus the accounting and oversight of income collection.
A qualified Accounting Technician or equivalent and experience in the practical application of actuarial concepts within the public sector. With a track record of supporting employers in meeting their regulatory pension obligations, co-ordinating timely closure programmes and dialogue with auditors.
Responsible for the delivery and implementation of the Funding Strategy, including oversight of the collection of all contributions; requisite co-ordination and planning for the employer pension accounting disclosures, along with actuarial assessments of
employers joining or ceasing active membership.
Pro-actively engage with the Fund Actuary, acting in a client capacity, to reflect the Fund's experience of the services received; highlighting shortfalls and working to ensure the needs of the Fund and its employers are appropriately met.
Accountable for proposing actions/interventions in respect of employers failing to meet regulatory requirements on contribution payments. Maintenance and updating of the general ledger, with specific responsibility for complex recharge arrangements including: financial strains and added years.
Take ownership of the contributions accounting function throughout the year. Responsible for planning the contribution aspects of the year end closure programme in line with statutory deadlines and the requirements of external audit.
Responsible for the production of data for Actuarial Valuations, Interim Reviews and Year end accounting disclosures.
Responsible for specific guidance to the Council and other Fund employers, in relation to the impact of OD (e.g. outsourcings, TUPE transfers, ALMOs and other operating models).
Responsible for the Fund's deliverables in relation to employer's admissions, conversion of schools into Academies and termination events.
Responsible for coordinating Fund stakeholders in the admissions, migration and termination processes (including the monitoring of bonds/ security arrangements).
Accountable for translating the Fund's cross team experience with employers, into content for Employer Risk Analysis submitted to the PSB. Coordination of Actuarial and Rating agency input.
Specific individual and shared targets and objectives are defined annually within the performance management framework.
Budgetary responsibility (direct or indirect impact): Co-ordination of the production of the annual accounting disclosures for Fund employers in relation to the collective £9bn+ long term pension liability. Coordination of the collection of £250m p.a. contribution income. Act as Level 4 authorised signatory for movement of assets up to £10 million under the Essex Pension Fund's Approvals Management Engine.
People management (including direct reports):Matrix management/mentoring of two Employer Officers.
Breadth of role: Engagement with Fund Actuary, Internal and External Audit, 600+ active employers and other LGPS Funds.
Skills, Knowledge and Experience
Qualified Accounting Technician (AAT)/part qualified accountant or similar with experience in the public sector.
Evidence of continuing professional development and expert knowledge in relevant professional area. Adherence to/completion of the actuarial and accounting related modules of the CIPFA knowledge and skills framework.
Significant experience of the practical application of Actuarial concepts, including: interrelationship between Actuarial Valuations and Funding strategies; elements of actuarial assessment of admission and cessation events; differentials of employer contributions on both an ongoing and least risk basis.
A track record of productive dialogue with auditors, providing guidance to both large and small employers on the actuarial implications of joining and leaving the LGPS; undertaking Organisational Redesign and changing employer status (i.e. staff transfers to ALMOS and school/academy conversions).
An extensive range of both verbal and written skills to ensure the effective explanatory communication of actuarial concepts and principles to the Funds' employers.
Advanced excel spreadsheet capability including extensive usage of pivot/lookup tables and macros.
Experience of building strong relationships across the Council and with external organisations which are collaborative and influential in their nature to achieve strategic objectives.
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If you have queries on this role or require anything further, please email or call us on 0333 013 5888. Lines are open Monday to Friday between 08:30 - 16:30.