Pension Fund Actuarial and Technical Committee External Expert

Background:

The CERN Pension Fund is the pension fund of the European Organization for Nuclear Research (CERN). The purpose of the Fund is to provide pension and social security benefits to over 7,000 members and beneficiaries employed at CERN and at the European Southern Observatory (ESO). CERN's overall mission is to enable international collaboration in the field of high-energy particle physics research. ESO's mission is to enable major scientific discoveries by constructing and operating powerful ground-based observational facilities that are beyond the capabilities of individual member states and also to foster international cooperation in astronomy.  Operating as a funded defined benefit scheme the CERN Pension Fund's assets currently exceed CHF4.6 billion.

The Fund is an integral part of CERN but with operational autonomy. The oversight of the fund is entrusted to the Pension Fund Governing Board (PFGB) which is assisted by an Actuarial and Technical Committee (ATC) and Investment Committee (IC).

The management of the Fund is entrusted to the Chief Executive Officer who is accountable to the PFGB and is supported by the Pension Fund Management Unit (PFMU).

Further details and information regarding the organization of the Fund (including its governance structure, investment principles, benefits structure etc) can be found on the Fund's website ).

The composition of the ATC provides for two external professional experts and there is currently an opening for one of these members.

Role and composition of the ATC:

The functions of the ATC are laid down in Article I 2.13 of the Fund's Rules and include, amongst other things, proposing the Actuary for appointment by the PFGB, reviewing the periodic actuarial reviews prepared by the Actuary and monitoring the Fund's funding status and advising the PFGB on any measures aimed at full funding.

The composition of the ATC is set out in Article I 2.14 of the Fund's rules. The ATC is required to have at least four members, comprising two members of the Governing Board appointed by the latter, two external professional experts and any additional member(s) appointed by the Governing Board, who may be either Governing Board members with relevant experience or external experts.

The members of the ATC are appointed for a period of three years, renewable once for a further maximum consecutive period of three years.

Description of work:

The ATC typically holds four meetings per year, including one joint meeting with the PFGB, although additional meetings or conference calls may be scheduled if required. Usually, meetings last at least half a day and take place at CERN in Geneva, Switzerland, or exceptionally by videoconference. External professional experts are expected to attend every ATC meeting. In addition, temporary working groups may be established from time to time, where progress is required between ATC meetings and for which contribution from ATC members would be necessary. ATC members are required to act in the best interests of the Fund and to abide by the CERN Code of Conduct and the Pension Fund Implementation Guidelines ).

Qualifications and requirements:

Candidates should have substantial experience of overseeing the liabilities and assets of large defined pension funds, or comparable long-term institutional investors, such as endowments, foundations, and sovereign wealth funds.

Candidates should hold academic and/or professional qualifications, along with expertise in some or all of the following areas:

• Pension scheme benefits and rules
• Actuarial science and valuation methods
• Funding strategies and long-term financial sustainability
• Pension scheme administration and operations
• Financial reporting and auditing
• Risk management
• Pension fund governance and best practice

Appointments are made on an individual basis. Applicants employed by a firm may apply, but only in a personal capacity.

Fees:

A market-competitive fee will be payable to external experts appointed. Further information will be provided during the selection process.

Applications:

Interested persons should apply with a CV (.PDF format), by clicking "I'm interested" on this link.  

Deadlines:

Applications will be accepted until 11 January 2026. Interviews for selected candidates will take place by videoconference.