Job Description

The role is responsible for the accuracy and timeliness of the financial reporting for the Pension Scheme including the Scheme’s annual statutory accounts. The role is also responsible for the management of finance risk in scheme operations.

In this role, you will:

• Be responsible for accurate financial records are maintained, including oversight of third parties that maintain financial records on the scheme’s behalf.
• Be responsible for the preparation of the Pension Scheme annual statutory accounts in accordance with normal accounting practice and legislation. Manages external audit of annual accounts.
• Liaise with the scheme’s employers’ finance departments to provide data for their IAS19 disclosures and other regulatory reporting.
• Develop and deliver scheme internal financial reports (e.g. the quarterly management accounts and aggregated investment valuations) to support regulatory compliance activity and scheme management decisions to achieve its business goals.
• Be responsible for all financial cyclical events and regulatory reporting requirements to be carried out in accordance with agreed timetables (e.g. completion of Trustee’s Tax returns, VAT returns, cash flow statements and ONS returns).
• Develop and deliver the scheme budgeting processes to ensure a collective approach to planning and budgetary responsibility for all members of the team. Responsible for the appropriateness of the assumptions included in the Scheme’s financial plans and the annual budgeting process.
• Responsible for efficient and effective treasury activity in the scheme by overseeing third party financial operations. Working with the PSE CIO to ensure investment liquidity
• Oversee custodial functions to ensure efficient, safe and cost-effective delivery of service
• Oversee investment accounting functions to ensure efficient, safe and cost-effective delivery of service, including ensuring monthly custodian/ investment manager reconciliations are completed and are accurate.
• Oversee the scheme invoice and fee authorization and payment functions are efficient, safe and effective.
• Ensure that finance procedures and controls are designed to meet the role and regulatory requirements and ensure that these controls are operated effectively, including oversight of finance procedures and controls operated by third parties.
• Arrange and oversee collection on non-payroll contributions from employers in accordance with the Scheme’s Schedule of Contributions.
• Write and present papers to Trustee Board and Committees in relation to financial reporting and control.
• Supervise the work of the Pension Fund Accountant.

Required Knowledge, Skills, and Abilities

To be successful in this role you should meet the following requirements:

• A qualified accountant
• Knowledge and experience in relevant UK accounting and reporting standards and in particular the UK Occupations Pension Schemes SORP, establishing their impact and implementing changes as required.
• Knowledge and experience in the production of pension scheme financial reporting, including financial reports that support other scheme functions, including knowledge of best practice risk management in this area.
• Demonstrates financial analysis and management. Understands cost benefit analysis
• Knowledge of characteristics of UK pension arrangements, legal framework, governance, strategy and operations (including administration, funding and investments)
• Able to influence. Understand the business strategies for the sponsor and trust
• Able to work to tight deadlines
• Good ability in specifying requirements for acquiring and interpreting information.
• Flexible and adaptable. Adept at framing issues
• Able to acquire, organize, interpret and evaluate relevant information.
• Good communication skills, written and oral
• Good analytical and quantitative skills