Note: Applications will be accepted until 11:59 PM on the Posting End Date.
This position is subject to the satisfactory completion of required background checksJob End Date
Ongoing
At UBC, we believe that attracting and sustaining a diverse workforce is key to the successful pursuit of excellence in research, innovation, and learning for all faculty, staff and students. Our commitment to employment equity helps achieve inclusion and fairness, brings rich diversity to UBC as a workplace, and creates the necessary conditions for a rewarding career.
Job Summary
The UBC Staff Pension Plan (SPP) is a target benefit pension plan with over 19,000 members and an asset value of approximately $2.9 billion.
As a member of the SPP administration team, the Pension Clerk is responsible for organizing and coordinating pension related services for SPP members, including meeting with and conducting information sessions with Plan members. The Pension Clerk is also responsible for producing and verifying complex calculations for Plan members on termination, retirement and death.
The Pension Clerk will be expected to interact with Plan members, various University departments/units, the Plan custodian, and outside financial institutions.
Organizational Status
The position reports to the Manager, Staff Pension Plan Administration.
As a member of the SPP administration team, the Pension Clerk works closely and collaboratively with other members of UBC's Pension Administration Office. The position may also receive direction from the Director, Pensions and/or Executive Director, Pensions.
Work Performed
Responsible for organizing, preparing and coordinating the daily, monthly and yearly work flow of pension services for members which includes verifying termination and retirement benefit calculations, options for Plan members, retroactive payment calculations and pre-retirement and post-retirement death benefits.
Ensures data integrity of the Pension Administration System (PAS) by performing duties such as coordinating regular audits, investigating and resolving anomalies, making corrections, and following up by collecting contributions as required.
Responds verbally and in writing to general and complex inquiries from a variety of sources, including Plan members, University departments/units, Plan actuary, Plan custodian, financial planners, and financial institutions.
Enters, updates, and retrieves data in pension and other information systems for processing Plan enrollments, downloading Plan member demographic data, and creating reports.
Conducts personalized information sessions to guide members through Plan definitions, pension options, and administrative steps of the retirement process.
Researches and analyses employee job history to determine eligibility for pension enrollment, and ensures compliance with compulsory enrollments.
Identifies difficult or unusual payroll deduction problems as they relate to Plan contributions and advises payroll staff to ensure that proper deductions are taken.
Performs duties related to auditing, verifying, and correcting data, which includes verifying Plan membership eligibility, auditing contribution accounts, and providing instruction for required corrections.
Enters data to the Plan custodian payment system.
Verifies all calculations processed by back up team member.
Interprets and applies rules associated with Plan text, Canada Revenue Agency, and provincial legislation and is able to explain complex concepts such as commuted values, special early retirement benefits, pre and post retirement indexing, retirement options, reciprocal agreements, locking-in and buy-back options.
Coordinates multi-million dollar pension payments, refunds, and fund transfers by liaising with the University's finance department and the Plan custodian.
Tracks retirees who have reduction or pension cease dates, verifies new pensioner payment and ensures that monthly pension payments are adjusted accordingly.
Reconciles pensioner payroll against details provided from Plan custodian.
Prepares complex spreadsheets and is required to maintain statistical reports and summaries.
Recommends and develops new procedures and policies in order to increase efficiencies and service to the membership.
Performs other related duties.
Consequence of Error/Judgement
Accuracy of SPP benefit calculations and information provided to Plan members is critical to the operation of the Plan. Any errors in calculation could cause the Plan significant financial and reputation risk.
All member information is confidential and staff must be familiar with the Freedom of Information and Protection of Privacy Act of British Columbia. All staff must be constantly aware that no one, including a member's manager, Director, Dean, or spouse is permitted to have access to any information. There is zero tolerance for a conscious breach of confidentiality.
Supervision Received
The Pension Clerk reports to the Manager, Staff Pension Plan Administration, who provides direction and supervision. The position may consult with the Pension Analyst, Pension Systems Analysts, Plan Accountant, Director, Pensions or Executive Director, Pensions as required. This position is responsible for ensuring that the Manager, Staff Pension Plan Administration is kept informed of relevant issues and operational concerns that arise.
Supervision Given
None.
Minimum Qualifications
High School graduation, plus two years of post-secondary education, plus seven years of related experience, or an equivalent combination of education and experience.
- Willingness to respect diverse perspectives, including perspectives in conflict with one’s own
- Demonstrates a commitment to enhancing one’s own awareness, knowledge, and skills related to equity, diversity, and inclusion
Preferred Qualifications
Experience working in pensions, particularly within a target benefit plan environment.
Knowledge of pension plan administration, including approving pension payments within a pension administration system.
Experience working with numbers and analyzing information.
Skills:
Strong customer service and interpersonal communication skills.
Ability to exercise tact and discretion in dealing with confidential matters.
Strong verbal and written communication skills.
Strong organizational skills, ability to prioritize work and meet overlapping deadlines
Must have good attention to detail and ability to maintain accuracy.
Proficiency in Microsoft office; with advanced Excel skills.