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Recruitment posting

Management Employees Pension Board

Competition #: 584
Ministry: Treasury Board and Finance
Opening Date: 07/10/2018
Closing Date: 08/10/2018
Role: Employee Nominee and Government Nominee

It is recognized in Alberta as a fundamental principle and as a matter of public policy that all persons are equal. Diversity and inclusion are valued and supported on the boards of Alberta's public agencies

Role Required

The President of the Treasury Board, Minister of Finance (Minister) is seeking applications from individuals interested in serving in one of the following board member roles on the Management Employees Pension Board (MEP Board, or "the Board"):

  • Employee Nominee – Only employees who are current members of the Management Employees Pension Plan (MEPP or the Plan) are eligible to apply.
  • Government Nominee – Applicants must not be a member of MEPP, nor be entitled to receive a future benefit from the Plan, to avoid any conflict of interest or perceived conflict of interest.

Location
The MEP Board offices are located in Edmonton and board meetings are generally held in Edmonton.
About the Agency

The Management Employees Pension Plan (MEPP) is a defined benefit pension plan for eligible management employees of the Province of Alberta and certain approved agencies and public bodies. It is funded with employee and employer contributions, as well as investment earnings and has over $5.0 billion in assets. The MEPP has more than 5,500 active members, more than 1,000 inactive members or deferred, and provides benefits to more than 5,000 pensioners.

The MEP Board is a representative board whose composition is established in the Public Sector Pension Plans (Legislative Provisions) Regulation and has seven members as follows:

  • three employee nominees;
  • three government nominees; and
  • one non-voting member nominated by the Public Service Commissioner.

Provincial legislation requires the offices of the board chair and vice-chair to alternate every two years between employee and government nominee.

The mandate of the MEP Board is established in the Public Sector Pension Plans Act (PSPPA, or the Act), Schedule 5 and Schedule 6. It includes providing advice to the Minister on matters relating to the Plan, and setting policy guidelines on the investment management of the Plan's assets and on the administration of the MEPP. The Board may also make recommendations on matters related to the Plan. The MEP Board also has some legislated responsibilities for the Public Service Management (Closed Membership) Pension Plan, (or "Closed Plan"), such as arranging actuarial valuations.

Role Description

Board members are expected to adhere to the Board's Code of Conduct and Charter of Culture and Expectations, be willing to attend educational sessions as required, prepare for board meetings by reviewing meeting materials, provide input at the meetings and maintain an excellent meeting attendance record.

The mandate of the MEP includes:

  • Advising the Minister on any pension matter that is of interest to MEPP members and beneficiaries;
  • Consulting with the Minister with respect to:
    • amending or repealing and replacing the Management Employees Pension Plan Regulation (the Plan Rules); including Plan Rules adjusting contribution rates to ensure that the MEPP is funded;
    • conducting an actuarial valuation with respect to the MEPP;
    • conducting an actuarial valuation with respect to the Closed Plan;
    • changes proposed to the Public Sector Pension Plans (Legislative Provisions) Regulation;
    • the cost to be charged for the administration of the MEPP and for the Closed Plan.
  • Hearing appeals of administrative decisions for the MEPP and the Closed Plan in accordance with the delegation from the Minister.
  • Setting general policy guidelines on the investment of the MEPP fund and on the administration of the Plan.

Board members are required to participate on the Investment Committee, which includes reviewing the investment results of the Plan's fund with Alberta Investment Management Corporation (AIMCo) and the Board's investment consultant.

Successful candidates will be appointed by Order-in-Council. Appointments will be for terms of up to three years, with the potential for reappointment based on satisfactory performance, to a maximum of 12 consecutive years.

Skills and Experience Required

For the Employee Nominee role, the applicant must be an employee member in MEPP.

For the Government Nominee role, it is essential the applicant not be a member of the MEPP, nor can they be entitled to a future benefit under the Plan. This is to ensure that the nominee can remain objective and impartial, and to avoid any conflict of interest or perceived conflict of interest.

As a board member, ideally, you bring an understanding of pension plan issues, policy interpretation, and knowledge of risk and investment management. You have sound business and financial management skills, proven interpersonal and communication skills, and are recognized for your ability to exercise good judgment. Your commitment to due diligence and good governance, and an ability to work effectively within a board structure will contribute to your success in this role.

You may not be an employee of AIMCo or Alberta Pensions Services Corporation as these organizations are plan service providers, which could present a potential conflict of interest.

Specific experience in several of the following areas is considered necessary:

  • Governance: prior or current experience as a board member or in a senior leadership position with a Canadian organization (public, private or non-profit sectors).
  • Investment Expertise: prior or current expertise in institutional investment, investment risk management, capital markets, principles of finance and economics.
  • Financial Expertise: prior or current board member or senior officer experience in financial accounting, reporting, corporate finance, pension fund planning and actuarial valuations.
  • Administrative Justice: prior or current education in administrative justice and experience in conducting hearings or administrative appeals.
  • Enterprise Risk Management Expertise: prior or current board member or senior officer experience in risk management.
  • Stakeholder Relations: prior or current board member experience developing and maintaining stakeholder relations.
  • Diversity/Independent Point of View: prior or current board member experience in addressing a number of diverse board related activities and bringing an independent point of view to the board on board deliberations.
  • Benefits Administration: prior or current board member experience in benefits administration.

Applicants will ideally have an understanding of the financial and legal complexities of defined benefit pension plans (governance and legal framework, financial accounting and reporting, funding and actuarial valuation concepts, and benefits administration).

Although not a requirement, formal director training (such as an ICD.D designation) would be considered an asset, as would a designation in administrative justice.

Remuneration and Time Commitment

The board member role requires a time commitment of approximately 15-20 full day board or committee meetings per year, plus time for advance preparation. In addition to attending quarterly board meetings, this time commitment may also include attending educational sessions to develop personal knowledge and skills, and attendance at additional ad hoc working group meetings or appeal hearings (to hear and decide requests from members for a review of an administrative decision).

Remuneration, as set out in the Legislative Provisions Regulation of the PSPPA, is in accordance with Part A of Schedule 1 of the Committee Remuneration Order (OC 466/2007) and is as follows (remuneration for the Chair is provided in parentheses):

  • Meetings up to 4 hours: $164 ($219)
  • Meetings more than 4 hours, up to and including 8 hours: $290 ($383)
  • Meetings more than 8 hours: $427 ($601)
  • Board members who are employed by the Crown are not eligible for remuneration but are reimbursed for travel expenses in accordance with Government of Alberta regulations.

Honorarium is subject to review.In addition to the above, eligible board members are entitled to remuneration for preparation and travel time.

All board members will be eligible for reimbursement of expenses in accordance with the Travel, Meal and Hospitality Expenses Policy.

Successful candidates will be appointed by Order in Council. Appointments will be for terms of up to 3 years, with the potential for reappointment based on satisfactory performance, to a maximum of 12 consecutive years.

The MEP Board offices are located in Edmonton and board meetings are generally held in Edmonton.

Additional Documentation

In addition to your cover letter and resume, we require a biography. Click HERE to download form.

Once your biography and other required form(s) are completed, save it to your PC. When you hit 'submit application', you will be prompted to upload additional documents. Drag and drop (or upload) your completed cover letter, biography and other form(s) into the 'Drop files below or click to upload' section before clicking the 'apply' button.

To apply, please submit a cover letter indicating which position you are seeking and outlining your reasons for interest, together with a current resume.

Contact Information

For more information, please contact: Executive Search, Alberta Public Service Commission, 5th Floor Peace Hills Trust Tower; 10011 - 109 Street Edmonton, AB T5J 3S8. Phone: 780-408-8460. Fax: 780-422-0468.

How To Apply

Carefully read the Recruitment Posting and the Position Profile to ensure this is an appropriate opportunity for you. Applicants are advised to provide information that clearly and concisely demonstrates how their qualifications meet the advertised requirements.

Online applications are preferred. To apply, click on the 'apply' button, create or sign into your account in the ePAAS system; upload your resume, view the listing under Current Opportunities and click on 'submit application'. The uploaded resume will be automatically attached.

Provide a short 4 line biography using the Biography template found under additional documents section. Your biography should include your name, current work experience, board/committee experience and relevant education. Please note that biographies may be edited for length and clarity.

Once your biography and other required form(s) are completed, save it to your PC. When you hit 'submit application', you will be prompted to upload additional documents. Drag and drop (or upload) your completed cover letter, biography and other form(s) into the 'Drop files below or click to upload' section before clicking the 'apply' button.

If you are unable to apply online, please submit a cover letter and resume, quoting the recruitment posting competition number, to the contact provided on the posting. We thank all applicants for their interest. All applications will be reviewed to assess which candidates' qualifications most closely match the agency's requirements. Only those selected for interviews will be contacted to advance to the next step in the appointment process. You can check the status of each competition on-line at https://www.alberta.ca/public-agencies.cfm.

All potential candidates will be screened for potential conflicts of interest. Please Note: Successful applicants will have the following information about them made publicly available on the Public Agency Secretariat Website: name, biography, public agency, and position title.