Pension Consultant Vacancy at AfDB

The African Development Bank Group (AfDB) is a multilateral
development finance institution established to contribute to the
economic development and social progress of African countries.
The AfDB
was founded in 1964 and comprises three entities: The African
Development Bank, the
African Development Fund and the Nigeria Trust
Fund.

Job Title:  Pension Consultant

Objectives

The Staff Retirement Plan is a special and autonomous entity
established by the Board of Governors Resolution of  05/89 of 1989, and
is tasked with the following principal objectives:

• To manage the Staff Retirement Plan of the Bank; under the
  guidance of the Steering Committee and the Board and ensure its
  financial soundness through appropriate pension and investment policies. 

• To provide the regular staff of the Bank with a secure and
  stable pension upon retirement. Hence to administer benefits to
  beneficiaries of the Plan, i.e. normal or early retirement, withdrawal
  benefit, death benefit, child benefit, disability and other residual
  claims and benefits under the Plan.

Duties and responsibilities

Under the supervision of the Plan Administrator, the consultant
will provide services such as data retrieval and clean-up of membership
data for actuarial purposes, fund accounting and IT application.
Specifically; to:

• Develop Plan information resources for members through
  workshops, training sessions, brochures and written literature and Plan
  websites to enhance their general level of understanding of retirement
  planning, benefit entitlements and claim procedures;
• Recommend strategies for the improvement of financial
  management, accounting and information systems of the SRP, and assist in
  the implementation of approved solutions to promote transparency,
  integrity and consistency of the financial processes, use of funds and
  financial information in compliance with best practices and ensure the
  systems are up to date and suitable for the needs of the Plan;
• Ensure that accurate and complete records of the Scheme’s
  members are maintained as well as to identify information and system
  gaps that require maintenance to ensure accurate and timely valuation
  and reporting.
• Ensure that benefits are paid accurately and promptly in
  accordance with agreed targets and in accordance with the rules of the
  Plan, including responsibility for managing the pension payroll;
• Lead the engagement with Plan’s actuarial service providers to
  provide accurate and timely management reports and statistics as
  required to enable actuarial valuations, mortality studies and other
  technical projects; as well as to review the resultant reports for
  accuracy and relevance to the SRP, well as adherence to best practice
  standards;
• Assist in resolving complex or controversial issues that may
  arise with individual pension claims, in liaison with the Legal
  Department;
• Provide expertise in the formulation and implementation of a
  cohesive, well organised and investment policy and guidelines of the
  Plan; keeping abreast with the outlook of financial markets and advise
  on strategic and tactical asset allocation changes;
• Provide assistance to the well-functioning of the SRP
  management committees, including the preparation of technical research
  documents and board papers;
• To undertake any other duties as assigned by the Plan Administrator.
• Selection Criteria

• Including desirable skills, knowledge and experience

• At least a Master’s Degree or equivalent in Mathematics,
  Actuarial Sciences, Finance, Business Administration or a related field;
• A minimum of seven (7) years’ relevant professional experience
  in pension management, investment management or actuarial services, in
  addition to familiarity with actuarial issues, finance and accounting
  activities and the functioning of the pension unit;
• Membership or affiliation to a respected professional society of actuaries will be a distinct advantage;
• Fully conversant with Bank standard software applications
  (Word, Excel, and PowerPoint); SAP proficiency as well as familiarity
  with pension software would be an advantage;
• Excellent writing and oral skills in English or French, with a good working knowledge of the other language.
•  
• Confirmed client service skills, good organizational skills, ability to multitask; and attention to detail;

How to Apply

To apply, please send a full Curriculum Vitae (CV) together with a
supporting statement, briefly highlighting your experience and skills
against the requirements of the role, to plan_administrator@afdb.org  including the title SRPU/PENSION CONSULTANT in the subject line of your email.

NB : This is not a staff position. The duration of this assignment
will be initially twelve (12) months. Depending on performance of the
Consultant, and subject to agreed variations to the project scope, the
terms and duration may be amended as necessary