Manager, Pension Fund

23-Jun-2024
Organizational Context

The Pension Fund of the International Federation of Red Cross and Red Crescent Societies (IFRC) is a foundation established in January 1985 and governed by Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pension Plans (LPP) as well as by the Fund's Statutes and Regulations.

The Pension Fund ensures financial protection in case of retirement, disability and death of all Geneva staff and all expatriate field staff contracted by IFRC for more than 3 months, providing them with benefits in accordance with the terms of its Regulations.

The IFRC Pension Fund comprises two pension schemes (2nd pillar insurance): (i) its main scheme which is compulsory for all above-mentioned IFRC-contracted staff; and (ii) a supplementary scheme, under which all non-Swiss staff are also insured in order to compensate for the fact that they cannot be insured by the Swiss 1st pillar insurance (AVS/AI). Swiss staff can also opt to join the Pension Fund's supplementary scheme if they do not wish to remain in the Swiss AVS/AI pension scheme.

Reporting to the President of the Board of Trustees, the Pension Fund Manager is the senior Pension Fund professional in the organization.

Job Purpose

To manage all the aspects of the IFRC Pension Fund in close collaboration with the Board of Trustees. This includes leading the development and implementation of Pension Fund strategies, representing the Pension Fund internally and externally, managing the investment portfolio, managing the finances of the Fund as well as advising the Board of Trustees on trends, standards and legislation related to every aspect of Pension Fund management. This includes accounting, investment, legal, actuarial, and administrative responsibilities.

To anticipate and proactively recommend to the competent bodies changes to the pension plan, the investment strategy and the overall strategy of the Pension Fund to ensure adequacy of the pension plan and long-term sustainability.

Job Duties and Responsibilities

Investments

The manager is responsible for the Pension Fund's investments (around CHF 300 million). In particular, the incumbent has the following duties and responsibilities:

• Leads the development and regular review of the investment strategy of the Pension Fund, with a view to optimizing capital management, controlling volatility and pursuing improved profitability with the goal of maximum limitation of drawdowns, taking into account the aspect of sustainability and social responsibility.
• Monitors investments and management mandates granted to external managers and reviews performance on a monthly basis to ensure that they are consistent with strategic asset allocation within the established limits.
• Prepares and leads Investment Commission meetings, advising the members of the Investment Commission on investment trends and standards.
• Recognizes and seeks for existing options to give a greener, more sustainable, and socially responsible footprint to the existing portfolio while maintaining long-term performance expectations.

Financial and accounting management

The manager is responsible for the Pension Fund financial and accounting management. In particular, the incumbent has the following duties:

• Draws up and manages an annual operating budget for the Pension Fund, continually looking for cost-saving measures while focusing on quality and security.
• Establishes the treasury plan to ensure that all Pension Fund commitments can be met.
• Manages the Pension Fund accounts, taking on the complexity of 2 distinct schemes.
• Manages the full accounting cycle, including the balance sheet, annual accounts and accounts revision, and prepares financial statements for external audit and approval by the Board of Trustees.
• Maintains control and reporting functions and provides expert advice and information to the Board of Trustees on a regular basis.

Coordination and Representation

The manager represents the Pension Fund and coordinates with external partners. The incumbent leads on building, maintaining, and developing relationship with high level stakeholders and external partners to identify best solutions for the Pension Fund and to allow the Board of Trustees to make adequate decisions. This work includes a high level of negotiation and influencing skills. These partners include:

• The Actuary
• External consultants
• The Statutory Auditors
• Asset managers
• Pension fund groups, and other pension fund managers
• Association of retired members

The manager supervises external consultants as required, taking into account the regulations, legal requirements, accounting and actuarial aspects, decisions adopted by the Board of Trustees and recommendations made by the Statutory Auditors.

The role holder also liaises with the Federation, through the Human Resources Management Department (HRMD). In particular, the manager ensures that the Board of Trustees is well informed about HRMD strategy and objectives that could have an impact on the Pension Fund.

The manager offers her/his expert advice and global vision for finding solutions for all stakeholders, including insured members.

Coordination and Representation
Job Duties and Responsibilities (continued)

Administrative Management

The manager oversees the Pension Fund Team. The incumbent is responsible for the administrative management of the Pension Fund in compliance with all relevant regulations and legislation, guidelines, and contracts. This includes steering through the complexity of the Pension Fund of an international organization operating under Swiss law.

Board of Trustees

The manager works in close collaboration with the Bureau of the Board of Trustees and provides the Bureau with regular updates on the situation. In particular, the position holder performs the following duties:

• Prepares Board of Trustees meetings, advising on the content, and setting up the agenda.
• Prepares requests, reports, and proposals for the attention of the Board of Trustees and provides expert advice to facilitate decision making.
• Organizes elections for the selection of members of the Board of Trustees and their substitutes.
• Facilitates the deliberations of working groups set up by the Board of Trustees.
• Prepares the annual report for endorsement by the Bureau.
• Drafts guidelines, investment strategies, and information bulletins.
• Develops guidelines to translate strategies into implementation plans.
• Ensures that the members of the Board of Trustees and their substitutes have access to training and development opportunities, as required by applicable laws and regulations.
• The manager identifies in a timely manner issues and trends requiring in-depth analysis by the Fund\'s bodies and Fund's external partners, keeps the Board of Trustees informed about their assessment, provides expert advice, puts forward specific proposals for improvements and is available to the Board to answer any questions that its members may have. He engages with internal and external stakeholders representing the Pension Fund.

The manager stays abreast of changing regulations and ensures that the Board of Trustees is briefed and well-equipped to take appropriate decisions

Education

Required

• Swiss Federal 'Brevet' in pension fund management, an equivalent training, a professional expert certification in occupational benefits, or an equivalent university degree.

Experience

Required

• Proven governance or management experience at a pension fund in Switzerland.

Preferred

• Extensive professional experience in leadership or senior management roles within international companies/organizations that care for their financial performance and staff wellbeing.

Knowledge, Skills and Languages

Knowledge and Skills

Required

• In-depth understanding of Swiss laws concerning pension funds, including
  actuarial and legal aspects.
• Accurate and attentive to detail, able to quickly spot errors in data and respond with clarifications and explanations.
• Discretion in handling confidential matters.
• Ability to listen and communicate, allowing to create trusting relationships with active members, pension recipients, the employer, and various external partners.
• Leadership allowing to build a motivating and collaborative work environment that enables your team to achieve ambitious goals.
• Ability to work in an international and multicultural environment.
• Able to work autonomously and proactively.

Languages

Required

• Fluent spoken and written French and English.

Competencies, Values and Comments

Competencies and Values

Values: Respect for diversity; Integrity; Professionalism; Accountability.
Core competencies: Communication; Collaboration and teamwork; Judgement and decision making; National society and customer relations; Creativity and innovation; Building trust.
Functional competencies: Strategic orientation; Building alliances; Leadership; Empowering others.
Managerial competencies: Managing staff performance; Managing staff development.

Comments

The French version of this posting can be found HERE.

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