Pension Benefits Consultant (4921)

Job Posting

Pension Benefits Consultant
Organization:  Pension Office, University of Manitoba
Province:  Manitoba
Location:  Winnipeg
Job Start Date:  17-Sep-2018
 
Description:

Pension Benefits Consultant – Administrative Assistant 2 (AESES) - Requisition No 03816

Full Time: Yes
Permanent: Yes
Posting End Date: August 24, 2018
Existing Budget-Funded Continuing Full-Time
35 hours/week, 8:30am – 4:30pm, Monday – Friday
Salary Range: $27.10 - $35.42 per hour ($49,322.00 - $64,464.40 per annum)
Trial/Probation Period: 840.00 work hours

 

For more information, please contact:
Kate Plett
180 Extended Ed Complex
204-474-8476
kate.plett@umanitoba.ca

Responsibilities

  • Prepare benefit options and estimate packages for plan members, their spouses and beneficiaries as required on termination, retirement, marriage breakdown, deferred compensation and death. Provide follow up as needed.
  • Verify the accuracy of plan member data, including the best 5-year salary calculation, the interest rate assumption, the contributions (employee, university, additional voluntary) and credited service used in the member reports.  The data in Panache Pension Administration System (Panache) must be cross referenced with the data from Human Resources Information System VIP (VIP).  If errors or discrepancies are found the incumbent will report those to the Pension Administrator.
  • Review, update and verify for compliance reported changes of Beneficiary, Trustee and marital status. 
  • Ensure all required documents have been received in the office prior to settlement.
  • Complete all required checks to ensure compliance with legislative requirements and administrative policies.
  • Complete final calculations.
  • Check final calculation ran by the other Pension Benefit Consultant or backup.
  • Prepare Cheque requisition (direction) to the custodian, checking accuracy of the calculation of the final amount payable.
  • Represent the University Pension Plans on all communication with plan members, their spouses, beneficiaries, legal counsel, and financial institutions, if applicable, answering all pension inquiries in person, by telephone or by e-mail. 
  • Communicate with internal and external associates, providing information on specific questions regarding their pension status.
  • Communicate with plan members (also their spouses/beneficiaries if required) on enrolment, termination, retirement, marriage breakdown, death, transfers-in and transfers-out and deferred compensation.
  • Command a working knowledge of the relevant employment policies and collective agreement provisions.
  • Communicate with plan members for possible transfers in to the Plan.
  • Consult with actuaries as required for post-retirement marriage breakdowns.
  • Communicate with Pension Accounting Unit.
  • Assign Certificate Numbers and set up all new enrolments in Panache.
  • Update the member status in Panache on retirement, termination or death.
  • Update Panache with Termination Contact and Pension Split as applicable.
  • Ensure proper cessation code and pension end dates are entered in VIP and that all necessary payroll data has been uploaded to Panache.
  • Close member pension accounts on termination, death and retirement.
  • Complete BULK entry for marriage breakdown and transfers in to the plan.
  • Maintain list of upcoming retirees and document the settlement option elected for cash flow purposes.
  • Maintain a monthly exception spreadsheet for upcoming marriage breakdown and deaths of active or retired plan members.
  • Coordinate and verify data changes or data updates with Compensation and Benefits.
  • Coordinate and verify address changes with Compensation and Benefits and also the Custodian
  • Review weekly terminations and retirements.
  • Review and manage deaths and 54 week breaks.
  • Run Panache query to manage and prioritize upcoming settlements.
  • Run Panache query to determine Plan Members on LTD approaching age 65.
  • Run follow up queries.
  • Work as part of the Pension Office team to ensure accuracy for all transactions that are processed in the Pension Office.  Each member of the team must contribute toward taking responsibility for calculating, checking, reviewing and communicating all transactions.
  • Complete special projects or reports as requested by gathering the required information or statistics and compile in the required format.
  • Perform other duties as assigned.  Provide backup for assigned duties in the absence of others or as required due to an increased volume of inquiries.
  • Assist in training of employees as determined by the staffing requirements of the Pension Office.
  • Conduct and develop seminars, in conjunction with other staff members, as part of Learning and Organizational Development.
Requirements:

MINIMUM FORMAL EDUCATION/TRAINING REQUIRED:

Completion of a university degree

EXPERIENCE

  • Five years current related experience with a pension or benefit consulting firm, insurance or trust company or equivalent work experience is required.
  • Additional courses in the field of employee benefits, e.g.:, CEBS, RPA, PPAC, LOMA would be a definite asset. 
  • An acceptable equivalent combination of education and experience may be considered. 

SKILLS AND ABILITIES

  • Must possess excellent mathematical and analytical skills.
  • Must be self-motivated and capable of organizing and prioritizing large volume work.
  • Must have the ability to be co-operative with others and participate as part of a team.
  • Must be proficient in using advanced features associated with Microsoft Office (Excel, Word), Internet, e-mail and Windows operating system with intermediate skills.
  • Excellent interpersonal, verbal and written communication skills to facilitate communication with plan members.
  • Must be professional, knowledgeable and articulate.
  • Excellent interpersonal and human relation skills to facilitate communication with plan members and their dependents who may be dealing with relationship breakdown, illness or death is essential.
  • Demonstrate sensitivity in working with plan members from diverse cultural and linguistic backgrounds is required
  • Demonstrate ability to multitask, show initiative, and meet deadlines is required
  • The ability to complete calculations accurately and quickly is essential. 
  • This position requires a high energy level.
  • Must work well under pressure and meet tight deadlines while providing excellent customer service.
  • Satisfactory work record, including satisfactory attendance and punctuality is required.