African Development Bank Vacancy for a Principal Pension Officer
African Development Bank (AfDB) - Established in 1964, the African
Development Bank is the premier pan-African development institution,
promoting economic growth and social progress across
the continent.
There are 80 member states, including 54 in Africa (Regional Member
Countries). The Bank's development agenda is delivering the financial
and technical support for transformative projects that will
significantly reduce poverty through inclusive and sustainable economic
growth.
We are recruiting to fill the position below:
Job Title: Principal Pension Officer - SRPU
Reference: ADB/16/050
Location: Cote d’Ivoire
Grade: PL-4
Position N°: 50000519
Objectives
The Staff Retirement Plan Unit (SRPU or the Plan) is a special and
autonomous entity established by the Board of Governors Resolution of
05/89, and is tasked with the following principal objectives:
- To provide beneficiaries of the Plan with secure and stable
pension upon retirement, and administer benefits, i.e. normal or early
retirement, withdrawal benefit, death benefit, disability and other
benefits under the Plan;
- To manage the Staff Retirement Plan (SRP) of the Bank under the
guidance of the Steering Committee and the Board and ensure its
financial soundness through appropriate pension and investment policies.
Duties and Responsibilities
Under the direct supervision of the Plan Administrator & Head of the
SRPU, the Principal Pension Officer will have the following
responsibilities:
- Lead the interaction with Plan’s actuarial service providers to
deliver accurate and timely reports and statistics as required to enable
actuarial valuations, asset liability management, mortality studies and
other related projects.
- Provide accurate and timely management reports and statistics as
required, for actuarial valuation purposes as well as other studies and
projects and cooperating closely with the scheme's professional and
technical advisers.
- Ensure the transparency, integrity and consistency of the
financial processes, use of funds and financial information in
compliance with best practices and that systems are up to date and
suitable for the needs of the Plan.
- Resolve complex or controversial issues that may arise with individual pension claims, in liaison with the Legal Department.
- Develop information resources, including the provision of
seminars, training sessions and writing scheme literature such as
leaflets and update websites, for scheme members and potential members.
- Undertake any other duties as directed by the Head of SRPU.
- Ensure that schemes operate effectively and meet performance,
quality and customer care targets, as well as complying with best
practice where possible.
- Registration of new members of the Plan, reconcile members’
register with periodic contributions, as well as updating of personal
records while maintaining confidential communications with Plan members.
- Communicate with members on the benefits of the Plan and enhance
the general level of understanding of the Plan provisions and benefits
to members.
- Ensure the systems in use to keep record and perform
calculations are up-to-date and suitable for the needs of the Plan and
in line with best practices.
- Recommend strategies and methodologies for the improvement of
financial management, accounting and information systems of the SRP and
help implementing solutions.
- Ensure that accurate and complete records of the members of the
Plan are maintained in order to have reliable actuarial valuation, and
make correct benefits’ payments in compliance with Plan rules and
regulations.
- Develop annual and other financial reports for presentation to
the Steering and Investment Committees as well as communication to
members.
Selection Criteria
Including desirable skills, knowledge and experience
- At least a Master’s Degree or equivalent in Actuarial Science,
Mathematics, Economics, Finance, Accounting, Business Administration or a
related field.
- Confirmed analytical skills, good organizational skills, ability to multitask; work with attention to details.
- Fully conversant with Bank standard software applications (Word,
Excel, and PowerPoint); ERP proficiency as well as familiarity with
pension software would be an advantage.
- Excellent writing and oral skills in English and/or French with a good working knowledge of the other.
- A minimum of six (6) years of relevant professional experience
in pension benefit management, investment of assets of pension schemes
in the capital market or actuarial services.
- Familiarity with actuarial issues, finance and accounting activities and the functioning of the pension unit.
- Experience of pension management with international organizations and/or actuarial practice would be an advantage.
How to Apply
Interested and qualified candidates should:
Click here to apply
Application Deadline 9th May, 2016.