Director, Pension Financial Transactions

University Pension Plan•Toronto, ON

11d•Hybrid

About The Position

The Director, Pension Financial Transactions is accountable for the execution, integrity, and reliability of all financial transaction activities within Pension Services, ensuring that funds move accurately, compliantly, and transparently across the member and employer lifecycle. This role owns the Pension Financial Transactions Team delivery model, overseeing recurring financial activities and the day-to-day execution of pension-related financial transactions, including contribution remittances, transfers, benefit payments, refunds, and reconciliations. The role ensures that all monetary activity aligns with plan rules, legislative requirements, and fiduciary obligations. Reporting to the Managing Director, Specialized Operations, this role translates Pension Service strategy into a reliable, secure, controlled and audit-ready pension payment framework. While enterprise regulatory policy and risk appetite are set at the executive level, this role is accountable for ensuring pension financial transactions are executed within those frameworks, adhere to controls, and escalating material risks appropriately. This role works closely with Pension Services Business Solutions, Technology, Actuarial, Finance, and Experience teams. A core focus of the role is maintaining trust in UPP’s financial interactions with members and employers, ensuring accuracy, auditability, and transparency in all pension-related financial transactions. This role is based in downtown Toronto under a hybrid work policy, allowing employees the flexibility to work remotely and in-office (min two days per week in-office). This job posting is for an existing vacancy.

Requirements

Bachelor’s degree required
Minimum 10-12 years of progressive experience in pension administration, financial operations, or a comparable regulated financial services environment.
Demonstrated experience leading or managing pension-related financial transaction processes.
Strong understanding of Canadian defined benefit pension administration, including contributions, benefit payments, and reconciliations.
Experience working with financial controls, audit requirements, and reconciliation processes.
Demonstrated ability to work cross-functionally with Pension Services Business Solutions, Technology, Actuarial, Finance, and Service teams.
Strong analytical and problem-solving skills.
Clear, practical written and verbal communication skills.

Nice To Haves

Postgraduate degree is an asset.
Professional designations such as CEBS or PPAC are considered assets.

Responsibilities

Own the end-to-end planning, execution, and governance of incoming contribution remittances and outgoing benefit payments.
Accountable for the timely and accurate payment of pension benefits, ensuring payments are set up consistent with the member’s election, and are paid on time via UPP’s trustee.
Own the design and operation of effective and efficient financial transaction processes and controls within Pension Services, including employer and member contributions, transfers, benefit payments, refunds, and reconciliations.
Ensure that all monetary activities across the member and employer lifecycle are accurate, compliant, and auditable in accordance with plan rules, legislation, and fiduciary obligations.
Oversee a calendar of recurring financial activities and manage the resource capacity required to execute those activities effectively.
Accountable for the maintenance of accurate, up-to-date pensioner data, compliance requirements, operational risk, and business intelligence to ensure effective operational performance.
Responsible for resolving payment escalations, such as overpayment recoveries, estate settlements, stale-dated payments and re-issued payments.
Act as the business owner for systems, processes, and controls that support the movement of funds between employers, UPP, and members.
Accountable for the timeline and accurate application of pensioner indexation, including UPP and prior plan applications.
Responsible for the execution of business continuity management (BCM) activities relating to pension payments, including table-top exercises, approval of BCM planning and execution of quarterly testing.
Ensure that UPP’s financial interactions with members and employers are accurate, transparent, and trustworthy.
Accountable for providing accurate data for the financial reconciliation and financial statements to UPP’s Corporate Finance team.
Partner with Finance, Pension Services Business Solutions, and Technology teams to ensure data integrity, automation, and reconciliation between pension administration systems (e.g., V3locity) and financial systems.
Support readiness, testing, and change management for system upgrades or process changes impacting financial operations.
Accountable for the application of monetary approval limits as delegated in UPP Policies, and for reporting exceptions, remediations and claims to the CEO and/or the Pension Services Committee of the Board. This includes authorizing payments within the Director-level approval limits.
Translate organizational strategies into effective and efficient business operations.
Create an environment in which team members are mentored and coached for continuous improvement and career development.