Career Opportunity

Specialist, Pension Accounting

Application deadline: February 13, 2012

Reference number: 2012-0009

Scope

As a key member of the Pension Accounting Team within the Financial Services Branch, the Pension Accounting Administrator deals with our 900 employers, 100,000 pensioners and handles both contributions and payouts of approximately $2 billion each.

  • The Pension Accounting Administrator is responsible for all functions within the department as all duties are rotated amongst the group.
  • The Pension Accounting Administrator must have working knowledge of OMERS policies and procedures, as well as the Pension Benefits Act and the Income Tax Act as it relates to their role

The main responsibilities of this position include:

  • Contributions: Account for all aspects of the deposit and allocation of contribution remittances
  • Payouts: this requires full knowledge of the ADP payroll process and system
  • Responsible for ensuring all policies and procedures are adhered to, before completing any transactions associated with such requests from clients
  • Provide excellent customer service, and prompt, accurate information to, internal (Pension Group) and external (Employers and ADP) clients, within established department service standards
  • Reconcile and, research and resolve discrepancies between, MSS and the Oracle GL accounts

Responsibilities

Contributions

  • Cash management of the daily deposits of contribution remittances
  • Analyze the completeness and accuracy of the allocations and to authorize the allocations in MSS and general ledger (G/L). Contribution types Basic, RCA, Service Purchases, Payment
  • Schedules, Receivables, Reserve Fund payments, pension overpayments, reimbursements, and recoverables.
  • Analyze employers’ contributions, assess late remittances and resolve any issues related to funds not being received. Recording contributions on a timely basis is an important requirement

Payouts

  • In-depth knowledge of the ADP system to balance the payment file data, upload and transmit the payment file, report on and notify discrepancies to manager or anayst.
  • Manage accounting related to benefit payments, pension, and contribution refund payments
  • Communicate to ADP any stops, recalls and tax exempt payments on a timely basis
  • Reconcile pay run to bank statement daily, updates MSS with returned funds from ADP, and ensures correct journal entries are booked

Reconciliations

  • Responsible for monthly reconciliations of Oracle general ledger balances to MSS and ensures complete detailed documentation of all reconciling items, which requires accounting knowledge and a solid understanding of MSS

Taxes

  • Responsible for balancing and preparation of remittance of RCA contribution taxes to CRA and reconciling tax remittances made by ADP on behalf of OMERS to CRA
  • Reviews, ensures accuracy of, and remits cancelled/amended tax slips to CRA

Other

  • Monitors and reviews all requests received from the Pension Division (regarding payments, changes in employer allocations etc.) to ensure policies and procedures are adhered to before generating any transactions related to such requests
  • Analyses contributions and payments daily, to determine RCA portion, and transfers funds accordingly, to ensure compliance with PBA and CRA requirements
  • Communicates directly with Cash Desk, multiple times per day, to advise of cash flows, for investment purposes
  • Participates in system user acceptance testing, which requires in depth knowledge of business procedures, and how the MSS system works
  • Handles external auditor requests for information and analysis during interim and year-end
  • Provides training to co-workers in all aspects of department procedures
  • Participates in development and maintenance of Pension Accounting policies and procedures
  • Acts as back up for other staff in the department, as required, which utilizes the full department knowledge gained through the administrator job rotation schedule
  • Provides assistance and support to the Pension Accounting Analysts, and/or Manager, for essential daily operations and systems trouble-shooting and testing
  • Special projects as assigned by the Manager

Qualifications

  • Completion of a University degree or College diploma (with concentration in Accounting) preferred, or equivalent work experience
  • Three to five years related accounting experience
  • Technical knowledge of: MSS, Oracle, Excel, ADP software,
  • Technical and analytical skills to identify and resolve reconciliation issues
  • Strong written and verbal communication skills
  • Strong computer skills including intermediate knowledge of Excel
  • Very good organization, planning, analytical and problem-solving skills
  • Detail oriented
  • Initiative and resourcefulness demonstrated while performing principal functions and special projects
  • A team player able to operate in a fast-paced environment with numerous priorities and deadlines

How to apply