Senior Pension Fund Administrator - 12-month contract

The opportunity

The Pension Fund Administration team governs and manages the activities to ensure the timely processing and accurate maintenance of the benefit payments and contribution records. The Senior Pension Fund Administrator plays a critical role in supporting the full execution of the pension payroll and funds coming into the plan from members and employers on an accurate and timely basis. This role also works closely with various internal and external teams to provide accounting expertise, resolve complex issues, conduct data analysis and prepare relevant reporting.  

Who you'll work with

The Senior Pension Fund Administrator will report to the Manager, Pension Administration, Payroll & Records Management

What you'll do

Employer Remittances Administration

With support of the Pension Fund Administration Analyst & Pension Fund Administrator, ensures employer remittances administration activities are actioned with accuracy and timeliness due to impacts to OTPP Financial Reporting & Tax Reporting for the Registered Pension Plan (RPP) and the Retirement Compensation Arrangement (RCA)

• Monitor employer remittances and provide guidance to Records Management (RM) team for payment log-in

• Monitor, investigate and resolve employer remittance payment discrepancies (i.e. auto-apply failures, over- or under-payments, lateness, etc.) by collaborating with Employer Experience (EE)

• Plan, coordinate and prioritize application of Federation Strike Payments with various departments

• Query, consolidate, calculate and prepare journal entries relating to employer remittance payments (i.e. 50% RCA tax, matching purchases, foregone inflation, etc.)

• Perform month end GL accounts reconciliation with respect to employer remittance payments

• Collaborate with cross-functional teams to obtain required data for employer remittance payments for appropriate allocation of funds to RCA

Cash Forecasting

• Query and consolidate data for various cash forecasting reports

• Perform data analysis on trends and consult with cross-functional departments if irregularities are observed

• Communicate status to cross-functional departments such as the Financial Operations team to advise on available funds for investment deals

Compliance / Audit Support

• Assist with the preparation of various reports and responses as required for compliance or audit purposes

Government Billing

• Assist with the annual preparation of RPP & RCA Government Bill

• Participate in cross-functional department meetings

Pension Payroll:

With support of the Pension Fund Administration team, ensure the accurate gross to net calculations and on time pension payments for pensioners, survivors, ex-spouse and child survivors, as required by the Teachers’ Pension Plan Act (TPA), Income Tax Act (ITA), Family Law Value Act (FLV) and Family Responsibility and Support Arrears Enforcement Act.

• Process monthly payroll for pensioners and survivors including statutory deductions, garnishments, support and custody orders, optional 3rd party deductions for benefits and professional fees

• Reconcile data based on pre-file error reports and resolve differences

• Review and correct errors and discrepancies in pension services reports according to necessary schedules

• Ensure spousal split agreements are implemented

• Meet established levels of service delivery by setting priorities and through follow up

• Assist payroll service provider (RBC) to resolve on-going issues including returned payments and tax slips (T4A/NR4’s, etc.)

• Support the completion of the retro payroll runs, monthly reconciliations and reporting

• Assist with year-end processing and reconciliation

• Assist with the annual inflation adjustment process for all pensioners

• Keep current with legislation and reporting requirements

Continuous Improvement

• Identify & implement continuous improvement opportunities

Documentation & Training Support

• Support the creation and maintenance of internal procedures

• Support the training to new team members

What you'll need

• Member Payment Activities Support

• Occasionally provide support / coverage to Pension Fund Administration Analyst or Administrator on activities relating to Member Payment

• Post-secondary education with a focus in Business Administrator/ Accounting

• At least 4 years of accounts receivable or payroll experience

• Strong knowledge and understanding of the Income Tax Act and various provincial legislation requirements in relation to Pension Fund Administration

• Strong knowledge of the principles and practices of accounting with strong mathematical aptitude

• Exceptional communication skills, both verbal and written

• Proven analytical skills with attention to detail

• Proven organizational skills and demonstrated ability to prioritize and manage multiple tasks simultaneously to meet deadlines High degree of confidentially and discretion

• Adaptability to change

• Ability to take direction and follow established procedures and regulations

• Proficient understanding of the Teachers’ Pension Act (TPA), board policies/procedures and internal workflow processes

• Proven results in raising and maintaining good relationships in direct and indirect teams’ structures

What we’re offering

This position is eligible for base salary and annual incentive based on individual and enterprise performance.  Base Salary starting at $89,500 with future opportunity of up to $101,900.

• Competitive compensation

• Numerous opportunities for professional growth and development

• A flexible work environment combining in office collaboration and remote working

• Our Flexible Travel Program gives you the option to work abroad in another region/country for up to a month each year

• Employee discount programs including Edvantage and Perkopolis

At Ontario Teachers', diversity is one of our core strengths. We take pride in ensuring that the people we hire and the culture we create, reflect and embrace diversity of thought, background and experience. Through our Diversity, Equity and Inclusion strategy and our Employee Resource Groups (ERGs), we celebrate diversity and foster inclusion through events for colleagues to connect for professional development, networking & mentoring.  We are building an inclusive and equitable workplace where our talent is respected, accepted and empowered to be themselves.  To learn more about our commitment to Diversity, Equity and Inclusion, check out Life at Teachers'.

How to apply

Are you ready to pursue new challenges and take your career to the next level? Apply today! You may be invited to complete a pre-recorded digital interview as part of your application.

Accommodations are available upon request ([email protected]) for candidates with a disability taking part in the recruitment process and once hired.

Candidates must be legally entitled to work in the country where this role is located.

Ontario Teachers’ may use AI-based tools to assist in screening and assessing applicants for this position. These tools may help us identify candidates whose skills and experience align with Ontario Teachers’ objectives by analyzing information provided in resumes and applications. Our use of AI does not replace human decision-making.

To learn more about how Teachers’ uses AI with your personal information, please visit our Privacy Centre. 

Functional Areas:

Member Services

Vacancy:

Current

7263

 

#LI-RM1