Scheme Finance Manager
The Civil Service and Royal Mail Pensions Directorate (the Pensions function) requires a Scheme Finance Manager to provide oversight of the financial management of the Civil Service Pension Scheme (CSPS), and the Royal Mail Statutory Pension Scheme (RMSPS) 'the Schemes'.
About the role
You will lead on the financial management of ‘the Schemes’ on behalf of the Cabinet Office Pensions department that runs the CSPS and the RMSPS. Along with the budgets and financial management of the department, providing monthly reports to management to ensure adherence to budgets, effective management of resources and potential problems flagged up at an early stage.
The role will involve acquiring an understanding of the performance of MyCSP – the scheme administrators – in the financial management of the scheme and engaging with them to improve that performance. This will include involvement in Management Information to measure Scheme performance and also the performance of MyCSP.
The role will also involve taking information from MyCSP and refining and analysing it for presentation to the Senior Management Team (SMT), the Civil Service Pensions Board (CSPB) and the Cabinet Office Audit and Risk Committee, (COARC).
You will require an understanding of the immediate and long term cash needs of the Scheme to:
• deliver the uninterrupted flow of benefit payments
• underpin the production of the estimates by the Scheme accountant
• provide data to the Office of Budget Responsibility.
As part of the role you may be required to attend and present at CSPB and COARC.
The key responsibilities of the role include:
• Financial Management of the CSPS and RMSPS Schemes ensuring cash management, contributions from employers, budgets, invoicing and resources are effectively managed.
• Building up a robust relationship with MyCSP to ensure the flow of information between My CSP and CO and intervene effectively in problem areas.
• Manage and develop a small team within Cabinet office
• Devise a monthly reporting pack from MyCSP to Cabinet Office with key metrics to measure the Scheme’s financial performance and MyCSP’s financial management.
• Reporting on Scheme financial performance and MyCSP’s management to SMT, CSPB and COARC tailoring these reports appropriately.
• Put in place a process to collect data so that the immediate and long-term cash and resource needs of the Scheme are understood and communicated to relevant stakeholders including OBR.
• Devise and produce monthly reports on the management of the CO pension’s budget.
• Monitor contributions by employers to the scheme.
• Lead on the invoicing of administration expenditure for employers
• Knowledge of pension scheme finance is key
• Technical financial skills and understanding of how to apply these skills to the Schemes.
• Excellent organisational and project management skills.
• Strong stakeholder management and working collaboratively across the wider finance team and pensions department.
• Ability to engage and communicate with senior management.
• Strong communication skills, both written and oral.
• Previous experience of pension scheme finances and leading a team in finance area
• Management of senior stakeholders
• Experience of presenting to senior stakeholders
• Understanding of risk management for pension schemes.
It is desirable that you hold a qualification in Accountancy.