~~We are seeking a highly organised and flexible Officer to deliver a high performing, customer focused finance service for the £16bn WMPF and WMITA, to provide support to pension and investment services decision making.
Key responsibilities will include:
•To support and deputise for the WMPF Investment Finance Manager with the organisation of the work of a high performing investments team in one or more of the specified financial services detailed below.
•To assist with the compilation of investment accounting information for quarterly accounts and the Pension Fund Annual Report and Accounts.
•Processing non-custody trades and drawdowns for the Fund’s private markets and infrastructure portfolio
•To assist with investment performance data extraction, reconciliation, submission and reporting.
•To solve complex accounting and pensions finance problems under own initiative, referring the most difficult tasks to managers.
Job Purpose and Role:
Within the West Midlands Pension Fund (WMPF) to assist in carrying out a range of investment accounting, and financial administration duties in respect of the Pension Fund services and activities. To deputise for the Investment Finance Manager where appropriate.
To deliver a high performing, customer focused finance service for the £16bn WMPF and WMITA, to provide support to pension and investment services decision making.
Principal Duties and Responsibilities:
The post holder has the following principal areas of responsibility: -
1. To support and deputise for the WMPF Investment Finance Manager with the organisation of the work of a high performing investments team in one or more of the specified financial services detailed below.
2. To support the WMPF Finance Managers to monitor the achievement of the financial objectives and targets for the WMPF service plan.
Specific Duties and Responsibilities – Investment Finance Services
The post holder will assist and be accountable for one or more of the following areas of responsibility:
1. To assist and be responsible for the treasury management function (cash investments up to £1bn, transactional daily volumes can be as high as £5bn) in relation to the pension fund cash daily, both in relation to sterling cash and foreign
2. Primary responsibility for recording, analysing and reporting on the investment
portfolio for accounting purposes and interfacing with financial systems to ensure
accurate recording of investments.
3. Checking and recording investment transactions, instructing and settling trades and
liaison with external providers to resolve discrepancies. Reconciling investments to
custody records. Dealing with corporate actions as required.
4. To assist with the compilation of investment accounting information for quarterly
accounts and the Pension Fund Annual Report and Accounts.
5. To assist with the management of the Fund’s external custody and external
6. Processing non-custody trades and drawdowns for the Fund’s private markets and
infrastructure portfolio (approximately £2bn).
7. Maintenance of direct property accounts (up to £1bn) and monitoring of cashflow for
direct property including float payments and refurbishment costs.
8. To assist with investment performance data extraction, reconciliation, submission
9. Assist with transacting with LGPS Central in terms of subscriptions / redemptions /
distributions / cashflow forecasting and reconciliations.
10. Assisting with collation and compilation of cost transparency data, liaison with
external suppliers including LGPSC. Assist with provision of reports on cost
transparency and making recommendations as required.
11. Assisting with the development of and maintenance of a financial scheme of
delegation for the Pension Fund.
12. To assist with preparing and maintaining system/procedure notes relating to the
duties undertaken by the post holder ensuring their continued relevance, accuracy
13. To solve complex accounting and pensions finance problems under own initiative,
referring the most difficult tasks to managers.
14. To identify and implement improvements to procedures and systems on an ongoing
basis. Preparing and maintaining finance procedure manuals.
15. To be responsible to 2 members of staff to provide training and provide on-going
16. Assisting with the financial appraisal of projects and initiatives as required.
17. To undertake ad hoc assignments and financial analyses as necessary in support of the wider functions and responsibilities of the Fund.
General Duties for Post Holder:
1. To act in accordance with the Council's Constitution and other Codes of Conduct.
2. To participate in staff development, appraisal and training as appropriate, including continuous professional development.
3. To attend officers’ meetings and working parties as required.
4. Responsible for responding to FOI requests and liaising with governance services as required.
5. To comply with the Council's agreed policies and procedures including but not limited to Health and Safety, and Equal Opportunities Policies, the Data Protection Act, Freedom of Information Act, Financial Management Regulations and other relevant Council and Government Regulations, Directives and City-wide priorities.
6. To undertake any other tasks, duties and responsibilities as directed and appropriate to the grade and role of the post subject to any reasonable adjustments under the Disability Discrimination Act 1995 as incorporated into the Equality Act 2010.
7. To participate in the wider development of the service and contribute to service improvement as required.
8. The City of Wolverhampton Council is committed to Corporate Parenting.
“Corporate Parenting is the collective responsibility of the Council to provide the
best possible care and protection for children who are looked after”.
The ideal candidate will have experience of working within financial administration and have Fund accounting experience along with a reliable hard-working attitude.
For more information please contact Annie Egginton on (01902) 551360 or email WMPFrecruitment@wolverhampton.gov.uk