Principal Governance and Funding Manager

Job Description

South Tyneside Council (as Administering Authority for the Tyne and Wear PensionFund)Role: Principal Governance and Funding ManagerSalary: £76,925 per annum plus benefits and relocation allowanceLocation: South Shields / Hybrid workingContract: Full-time / PermanentWelcome, and thank you for your interest in learning more about South Tyneside Council (as Administering Authority for the Tyne and Wear Pension Fund) and this very exciting role.Serving more than 200 active employers, the Tyne and Wear Pension Fund is already a high achieving Fund; it is the fourth largest Local Government Pension Fund in England and Wales and is currently valued at £12.5 billion. It has around 175,000 members, includingthe five councils within the Tyne and Wear County area and Northumberland County Council.However, we are not complacent, and we are looking to build on our existing reputation, as we seek to constantly improve and innovate. Following a recent restructure in 2020 we are looking to rise to the challenge of meeting the increasing demands of the LocalGovernment Pension Scheme as well as the wider pensions industry. As we look to continue this journey that is where you come inWe are looking forward to recruiting a new Principal Governance and Funding Manager who will further develop our ambition and who will plan, implement, and maintain our funding strategy as well as driving continuous improvement, and ensuring that appropriategovernance arrangements are in place. This is a strategic and very high profile role which sits across the entirety of the pension fund and has significant responsibility for the running of the pensions service overall. It will provide you with significantautonomy and considerable delegated authority and will involve regular interaction with the most senior stakeholders, both within the council and beyond.If this fast paced commercial role sounds appealing, we would very much like to hear from you. Whether you have a background in pensions, finance or law, this superb role will provide an excellent platform for an ambitious individual who can fully appreciatethe potential of where this role might take you in the longer term. Governance is still very much an emerging area within the pensions sector and as such, this is an opportunity to be part of an innovative, forward thinking team.Fundamentally, we believe this is a fascinating opportunity, which will appeal to an enthusiastic and ambitious individual who can see the genuine potential of being able to play a pivotal leadership role at this very exciting time.We are strong performing authority, with stable political leadership, and talented teams providing the platform to have a fulfilling, challenging and successful career in a beautiful and accessible region.About the roleThis is an important role which has responsibility for the funding strategy for the Tyne and Wear Pension Fund (the Pension Fund) and for monitoring and improving its governance arrangements. Forming a key part of the senior management team, you will workclosely alongside the Head of Pensions, Principal Pensions Manager and Principal Investment Manager in shaping the overall strategic direction for the service. You will also work closely with the Fund Actuary and play a key role in setting the employer contributionrates as well as continuing to monitor their performance.In brief, you will:

• plan, implement and maintain the funding strategy and ensure that the Pension Fund valuations are successfully delivered
• assist the Head of Pensions in ensuring that appropriate governance arrangements are in place at the Pension Fund.
• provide an oversight and compliance function for the Pension Fund and ensure that appropriate policy documentation and records of compliance and breaches are maintained
• develop, monitor and maintain a contracts register and plan and deliver procurement exercises that meet service requirements
• manage and control the overall risk framework for the Pension Fund
• manage the Governance and Funding Office (including the Pension Fund legal team).
• assist and deputise for the Head of Pensions on funding, valuation, governance related matters and contribute to the overall strategic management of the Pensions Service

The role will require strong management and leadership skills, with the ability to communicate effectively and motivate others, leading by example.Demonstrating passion and enthusiasm, you will have substantial experience of working at a senior level within a pensions, local government, audit, regulatory or financial environment. You will have the ability to plan and manage multiple concurrent projectsand to set strategy so as to ensure successful implementation, and to provide a framework for the continuous improvement of the Pensions Service.Ideally you will have a strong understanding of the Local Government Pension Scheme Regulations and associated legislation, including knowledge of the current issues and regulatory environment affecting a local government pension fund.Your success in this role will rely on your ability to communicate confidently and effectively with a variety of different stakeholders, both internally and externally, who will have varying degrees of understanding of the pensions world. Knowing which languageto adopt in order to ensure your message is understood will be very important.Whilst a recognised professional qualification in pensions or a degree or equivalent is desirable, it is not essential as long as you can lead with credibility and demonstrate a compelling background.In return you will be welcomed by a progressive, friendly and talented team. We encourage productive, flexible working and we will provide you with the technology you need to work from our office in South Shields and from home.In addition to your salary, we offer a range of great benefits to help you financially make life a bit easier. From career average employer contribution pension scheme, a car leasing scheme, cycle schemes, and gym discounts.If you are interested in joining our team and are inspired to help lead the next phase of our journey, we look forward to your application. We encourage you to explore your interest with our recruitment partners at The Resourcing Solution to learn a littlemore.For further information and to apply, please visit: https://principal-governance-and-funding-manager/Closing date: Midnight Sunday 16 April 2023