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Deputy Director Consolidated Pensions

Job ID: 7746
Business Unit: MTA Headquarters
Location: New York, NY, United States
Regular/Temporary: Regular
Department: MaBSTOA Pension Administration
Date Posted: Jun 12, 2024

Description

JOB TITLE:                     Deputy Director Consolidated Pensions 
SALARY RANGE:          $140,000-$155,000
HAY POINTS:                954
DEPT/DIV:                   People
SUPERVISOR:              Deputy Chief  
LOCATION:                  2 Broadway New York, NY 10004 
HOURS OF WORK:     9:00 am - 5:30 pm (7 1/2 hours/day)
                                          
This position is eligible for telework which is currently one day per week. New hires are eligible to apply 30 days after their effective date of hire.

 

SUMMARY: The MaBSTOA, (Manhattan and Bronx Surface Transportation Operating Authority, a unit in Pensions, Retirement and Benefit Services is a consolidation of the administration and assets of the MTA and MTA affiliate plans to include represented and non-represented employees of the MaBSTOA Bus Company. This defined benefit plan is a highly complex and technical multi-article plan. There are different Tiers within the Plan and different sub-plans within the Tiers.
 
The Deputy Director will provide overall administration and highly technical direction for the day-to-day functions of the MaBSTOA Pension unit. This will involve, but will not be limited to, ensuring pension benefit calculations are completed correctly in accordance with pension plan document rules, ensure prior service and retirement offsets are accounted for correctly, training staff to perform these calculations and assisting them in understanding the numerous articles in the MaBSTOA Plan Document.
 
RESPONSIBILITIES:
  • Oversees all general administrative operations of the MaBSTOA Pension Plan. Undertakings will include coordination, generation and updates of participant summary plan documents (SPD’s).
 
  • Interacts with MTA Labor Relations, MTA Legal Counsel and the Actuaries to assure that the administration of the MaBSTOA is being carried out correctly in adherence to Plan documents, Collective Bargaining Agreements and Memorandums of Understanding and that the Actuaries have the correct information in order to complete accurate Valuations.
 
  • Establish relationships with Pension counterparts at the NYCERS to assure that updates in those systems are conveyed to staff as MaBSTOA participants mirrors NYCERS benefits.
 
  • Work with the Quality Control Officer of Pensions, Retirement and Benefit Systems to establish and implement internal controls and checks and balances to assure pension benefits are calculated correctly and processed correctly in the Benefit Payment system. Work with staff to perform monthly reconciliations of the Benefit Payment systems.
 
  • Work with MTA IT, NYCT IT, Pensions Special Project manager and staff to develop pension module in PeopleSoft and GEAC/MSA for the MaBSTOA Plan. Continue to work with MTA IT to make the pension processes in PeopleSoft more streamlined and efficient by reviewing current processes and providing specifications or Pensions requirements.
 
  • Assure that procedures and policies are complete and are implemented and utilized.
 
  • Work closely with MTA Benefits, HRIS and payroll to assure accuracy of data.
 
  • Work closely with Quality Control Officer and Special Projects managers to implement annual reviews of various aspects of the administration of the Plan to ensure the staff is properly trained, reconciliations are up to date and reviewed, and established checks and balances are being used and working to provide meaningful information. This also includes the annual Pensioner Verification affidavit reviews.
 
  • Work closely with staff and IT on the annual Actuarial Valuation report.
 
  • Establish and implement internal controls and ensure pension benefits are calculated and processed correctly in the Benefit Payment system. Manage a team to perform monthly reconciliations of the Benefit Payment systems.
 
  • Work with Internal Audit as a partner in establishing operational and administrative best practices.
  • Address escalated customer issues.
  • Work with Agency HR departments in communicating Pension benefit and participant information back and forth.
  • Work with Pension Disability coordinator and NYCERS with regards to disability retirement applicants and benefits provided under the MaBSTOA Pension Plan. Ensure staff work with disabled applicant and NYCERS in moving the application process forward. Handle escalated issues as they arise in this very sensitive area of the MaBSTOA Pension Plan.
  • Work closely with Pension (MTA-Legal) Counsel to review Pension guidelines and payments, ie, QUADROs.
  • Chair of the MaBSTOA Pension Adminstration Board
  • Manage and Review all Post Retirement Death Benefits.
  • Other duties as assigned.
 
 
KNOWLEDGE, SKILLS, AND ABILITIES :
  • The MaBSTOA Plan is a multi-article, multi-agency, pension plan. The membership is made up of both managerial and represented titles. Most of the participating agencies are not centrally located at NYCT and this position requires a willingness and understanding that field participants have to be afforded the same access and information as more centrally situated members.
  • While the MaBSTOA is not an ERISA plan, understanding and familiarity with ERISA best practices is important in understating administration of the Plan and is useful in addressing complex issues and situations that will arise.
  • The incumbent will be interfacing with employees from MaBSTOA and those transferring from NYCT to MaBSTOA, also with governmental agencies, outside firms, consultants, and internal and external legal organizations. As such the employee may be required to travel throughout the MTA service area, and may have to work non-traditional work hours.
  • As Deputy Director, may be called upon to testify as an expert witness at Arbitrations and Hearings and work with Attorneys conveying the aspects of the MaBSTOA as they apply to the individual participants involved.
  • Handle escalated customer service issues, including sensitive and confidential issues that arise related to the MaBSTOA Disability Retirement benefits offered under the Plan.
 

   

EDUCATION AND EXPERIENCE:
 
REQUIRED:
Education and Experience:
  • Bachelor’s degree in Human Resources Management, Administration, Public Policy or a related field from an accredited college.
  • Minimum 10-12 years in Benefits Administration or related experience with 8 years working with pension plans, including at least 5 years in a department lead or supervisory role in a large, multi-faceted, fast-paced organization or governmental body preferred.
Competencies
  • Must have knowledge and experience in Human Resources and dealing with Human Resource Information Systems (HRIS).
  • Must have knowledge of NYS and NYC pension plans,
  • Excellent communication and interpersonal skills.
  • Excellent organizational and presentation skills.
  • Demonstrated ability to work with all internal levels within a given organization, including the MTA Board.
  • Demonstrated ability to communicate and interact well with external agencies. External agencies may include the New York State Pension, New York City government, and other public officials, as well as any staff located at other federal or state agencies or authorities.
  • Demonstrated ability to work in a high profile, high pressure environment effectively.
  • Demonstrated ability to communicate effectively with key internal and/or external stakeholders.
  • Must have strong managerial skills to effectively direct a staff of professional and technical employees in implementing the short- and long-term goals and direction for the area(s) of responsibility.
  • Demonstrated ability to complete short- and long-term projects effectively and as efficiently as possible.
  • Demonstrated analytical capabilities and quantitative skills.
           
 
OTHER INFORMATION:
 
Pursuant to the New York State Public Officers Law & the MTA Code of Ethics, all employees who hold a policymaking position must file an Annual Statement of Financial Disclosure (FDS) with the NYS Commission on Ethics and Lobbying in Government (the “Commission”).
 
Equal Employment Opportunity
MTA and its subsidiary and affiliated agencies are Equal Opportunity Employers, including with respect to veteran status and individuals with disabilities.
 
The MTA encourages qualified applicants from diverse backgrounds, experiences, and abilities, including military service members, to apply.

 

 
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