Pensions Policy Advisor
Business Area: Pensions Strategy
Place of Work: Liverpool
Contract Type: Permanent
Hours: Full Time
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Working with Higher Education employers to build a secure financial future for our members and their families.
The principle purpose of this role is to:
• provide guidance on all legislative and technical aspects of pension regulations/scheme rules to the pensions business ensuring that current working practices meet the requirements;
• develop and maintain a forward look at pensions legislation, regulation and practice, identifying issues which will affect the scheme and supporting on developing proactive responses and solutions on pensions (as opposed to investment) issues; and
• provide technical support to the Technical Policy team in key projects and day-to-day matters, including technical queries and scheme rules changes.
The postholder will use their technical knowledge and expertise to interpret scheme rules/legislation, as well as other current and forthcoming regulatory and legislative changes. They will support the pensions business’ awareness of the changes, its understanding of the potential operational and strategic implications, and in implementing processes and policies to ensure compliance.
They will also provide expert support for the day-to-day work of the USS Technical Policy team, which is responsible for working with internal and external stakeholders to develop, maintain and communicate scheme policy through the Trustee’s relevant sub-committees, for providing technical expertise and input on strategic projects, and for supporting internal and external stakeholders on other technical matters and queries.
Functional duties include:
• To keep abreast of industry best practice and industry working groups in relation to regulatory/technical policy matters and identify where the Scheme may be impacted;
• To analyse and interpret pension regulations and support the monitoring process for future legislative and regulatory developments, working alongside compliance, legal and other colleagues.
• To support the maintenance and amendment of the Scheme rules to reflect any required legislative or regulatory changes.
• Support the establishment, maintenance and development of comprehensive internal/external guidance documentation and policies in respect of new legislative and/or regulatory requirements.
• Support the ongoing review and maintenance of existing policies and guidance and ensure that any new requirements are communicated to all relevant stakeholders within/outside the pensions business.
• Liaise with internal stakeholders and provide them with technical and developmental support and guidance in order to ensure that they fully understand the scheme’s obligations with regards to compliance with relevant legislation and regulation, and execute those obligations.
• Maintain awareness of potential forthcoming changes to legislation/scheme rules, scanning 3 to 5 years ahead for updates to regulations, to support the USS canon of law process so that policy, procedures and processes can be proactively updated at the appropriate time.
• Provide ongoing support and leadership on behalf of the pensions business with regards to any future projects, which will impact the operation and administration of the scheme.
• Lead the delivery of specific operational and strategic tasks to the USS executive and strategic committees, obtaining appropriate and timely decisions, and ensuring execution of those decisions by the business.
• Provide expert support to colleagues in dealing with day-to-day technical and policy queries and other matters.
• Degree qualified or significant experience within a similar role;
• Ideally have professional pensions qualifications such APMI or CPC/DPC;
• Experience in Pensions consulting/legal/technical environment;
• Excellent knowledge of pensions legislation and regulatory framework;
• Ideally familiar with USS scheme rules and practice, or with similar non-associated multi-employer schemes.
USSL is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.