Finance Officer, Pontiac Reestablished General Employees Retirement System
General Statement of Duties
Provides management and the Reestablished GERS Board with financial data necessary for investment, financial and budgetary decisions. The person in this position oversees the performance of the accounting, member services and human resources departments. This person is responsible for assisting the Executive Director with all phases of the day-to-day administration of the System including management of pension calculations, development, documentation and execution of policies and procedures and special projects.
- Responsible for maintenance of the general ledger of all Retirement System accounts. Maintains all accounting records including the cash receipts/cash disbursements journal and investment records.
- Responsible for monthly and year end closings to allow for timely reporting to GERS Board. Research and implement proper accounting treatment for complex financial transactions. Prepare financial and other reports as required by management and the GERS Board
- Reconcile investment portfolios between the independent investment management firms and the custodian bank and prepare analysis of investments as directed.
- Preparation, audit and payment of all Retirement System disbursements.
- Monitor revenues and expenditures to assure sound fiscal control and assure effective and efficient use of funds, personnel, materials, facilities and time.
- Prepare, process and audit work products, invoices, expenses andcommunications.
- Prepare required files and schedules for independent auditors and coordinate office activity during annual audit process.
- Preparation, audit and reconciliation of 1200 member retiree payroll, including the filing of annual tax return and issuance of member tax statements. Assists in calculating and reconciling annual COLA calculations.
- Coordinate with City Human Resources and Finance departments with respect to member payroll data and other issues related to GERS. Reconcile annual wages and contributions to ensure all active member data is properly accounted for and to ensure accurate reporting for annual valuation.
- Prepare all required files and schedules for the annual actuarial valuation. (Some support for this responsibility was previously provided by RetirementCoordinator).
- Oversee maintenance and update of actuarial/valuation software including implementation of various negotiated contract settlements relating to Retirement System. Supervise the administration and maintenance of active, retired and deferred member databases and other Retirement System records. (Support for this responsibility was previously provided by Retirement Coordinator).
- Prepare and process all final benefit calculations. (Previously responsible for reviewing final benefits only).
- Assist in administering and enforcing of all regulations pertaining to public pension benefits as prescribed by the IRS, Michigan PA 314, City of Pontiac RetirementSystem Ordinance, City Code and collective bargaining agreements as they pertain to the Retirement System. Oversee the implementation of amendments to the
actuarial/valuation software for such changes. (Support for this responsibility was previously provided by Retirement Coordinator).
- Prepare monthly, quarterly and annual financial and other reports as required by IRS, State and local agencies.
- Review, ensure compliance and assist in managing contracts with external professional service providers, insurance companies and other service providers.
- Train, supervise and coordinate the activities of employees of the accounting and member services department, including contractors and vendors, ensuring that standard accounting principles are followed in keeping GERS financial records. Assist in overseeing and prioritizing staff projects.
- Determine work procedures; develop, study and standardize procedures to improve efficiency, accuracy and effectiveness of operations.
- Assist in counseling retirement system membership.
- Prepare, process and reconcile bi-weekly staff payroll and act as an HR Generalist in ensuring that the System’s HR policies and practices comply with all Federal, State and local employment regulations.
- Perform other duties as assigned.
The incumbent must be able to perform the essential duties and may be called upon to do any or all of
Develop and/or provide technical expertise to the GERS Board, consultants and City staff and implement
new pension fund accounting and reporting procedures as required.
- Bachelor’s Degree in Accounting or Business-related field from an accredited college or university.
- At least four years progressively responsible experience in governmental accounting or public pension administration.
Knowledge, Skills, Abilities and Other Characteristics
- Knowledge of governmental accounting, including internal control procedures; payroll; principles of investment and finance; payroll and benefits administration; GAAP and GASB standards; IRC; Michigan PA314.
- Ability to use sophisticated computerized reporting systems as well as standard software applications such as word processing and spreadsheet.
- Knowledge of tax regulations and familiarity with tax reporting
- Honesty and integrity.
- Ability to use independent judgment, work in a well-organized manner and prioritize multiple projects.
- Ability to supervise, train and coordinate activities ofstaff.
- Ability to analyze and solve problems.
- Ability and willingness to continuously upgrade accounting and retirement benefit processes, procedures and software.
Compensation: The System offers a competitive compensation package. Salary is dependent on qualifications and experience.
To Apply: Send cover letter and resume to email@example.com.