Pension Analyst (4902)

Job Posting

Pension Analyst
Organization:  Teck Resources Ltd.
Province:  British Columbia
Location:  Vancouver
Job Start Date:  09-Jul-2018
 
Description:

Reporting to the Manager, Pensions, Benefits & Wellness, the Pension Analyst is responsible for the administration of the Company’s defined benefit and defined contribution pension arrangements including all required calculations. The pension team administers over 33 different plans including registered defined benefit plans, flexible defined benefit plans, registered defined contribution plans, supplemental defined benefit and defined contribution pension plans, and Group Registered Retirement Savings Plans. This position works closely with pension team members, actuaries, legal team, and plan consultants on pension and non-pension requirements and ensures that the information held in the customized pension software application is maintained and accurate.

The Pension Analyst provides support to the Manager on the pension policy, plan amendments and communicates administrative practice changes to the pension team regarding legislation, the pension software or actuarial requirements.

Responsibilities:

  • Be a courageous safety leader, adhere to and sponsor safety and environmental rules and procedures.
  • Calculates the defined benefit pension entitlements provided by the Company’s registered and non-registered defined benefit and defined contribution pension plans.
  • Calculates monthly pension payments and commuted values, pension adjustments (PA), past service pension adjustments (PSPA), pension adjustment reversals (PAR), annual employee pension statements and the completion of annual government as required by applicable pension legislation.
  • Responsible for all aspects of pension administration required for marriage breakdown ensuring compliance with provincial legislation and the Family Relations Act and the Alberta Family Law Act.
  • Acts as a liaison with Legal, HR Management and/or union representatives on pension plan amendments and pension matters as they relate to pension entitlements, collective bargaining strategy and required changes due to legislative or negotiated changes.
  • Prepares and remits contributions to the defined benefit plans, the reconciliation and unitization of the CPFCS pension fund, the preparation and/or review of monthly pension entitlements.
  • Responsible for the accuracy of the customized pension software by liaising with the software developer, requesting estimates for modifications to existing software for approval and for testing modifications or enhancements to the customization.
  • Determines requirements for pension and retiree related reports and coordinates production of reports with HRIS or develops them through crystal reports.
  • Maintains pension data in the HR payroll system for both active and retired plan members.
  • Maintains a strong working knowledge of pension legislation, the income tax act, the Family Relations Act, the Alberta Family Law Act and other legislation as it relates to pensions.
  • Accountable for the preparation, analysis and reconciliation of the membership data for the actuarial valuations of the registered defined benefit plans and post-retirement benefit plans.
  • Prepares annual information returns for the registered pension plans.
  • Prepares funding contributions for the registered defined benefit plans ensuring contributions are in accordance with actuarial valuations.
  • Troubleshoots information inflow and outflow of DC file interfaces with service provider
  • Remits defined contribution and group RRSP contributions to third parties, ensuring accuracy prior to submission.
  • Assists with pension booklets updates and retirement education.
  • Assists with health care benefit related annual enrolment and other projects as assigned.
  • Assists with pension improvement analysis and supports other projects as assigned.
Requirements:

Qualifications:

  • Bachelors’ degree in Actuarial Sciences or Mathematics.
  • 7 years of progressive senior and relevant work experience, preferably in the mining or related industry.
  • Experience working within an actuarial firm is an asset.
  • In depth working knowledge of pension legislation, the income tax act, the Family Relations Act, the Alberta Family Law Act and other legislation as it relates to pensions.
  • Ability to work effectively with individuals at all levels of the organization.
  • Strong analytical and computational skills required, especially with Microsoft Excel. Experience with other data management and/or analysis applications is an asset.
  • Ability to multi-task and work in a fast-paced environment with multiple conflicting priorities.
  • Motivated self-starter, able to work under minimal supervision and able to manage several projects simultaneously.
  • Strong written, verbal and interpersonal communication skills required. The ability to communicate effectively in English is required.