Job Posting
Assistant Director, Benefits and Pension Administration
CEBS Requirement: Preferred
Washington, DC
Founded in 1903, the International Brotherhood of Teamsters (IBT) is North America’s strongest union, representing more than 1.3 million hardworking people in the U.S., Canada, and Puerto Rico.
The Benefits & Pension Administration Department is responsible for meeting the needs of the Teamsters on matters concerning benefits bargaining, internal staff benefit plans, voluntary and group member benefit programs, the Teamster multiemployer benefits fund database, and the National Reciprocal Agreement. Additionally, the Department also acts as a liaison between Teamster local unions and the administrators of the Teamsters National 401(k) Savings Plan.
The Department is also involved with investment accounting and cash & investment management functions and provides reports to the Finance Committee and the Trustees on a regular basis. It serves as the Administrative Office for the Teamsters Affiliate Pension Plan (TAPP) and the Retirement & Family Protection Plan (RFPP).
Position Summary:
The Assistant Director assists in the planning, organizing and directing of the personnel and activities related to investment accounting, cash & investment management, and overseeing administration of TAPP and RFPP (DB Pension Plans). Based in Washington, DC, this position operates full-time and in-person from the union’s headquarters.
Duties and Responsibilities:
- Assists in the interviewing, hiring, evaluating, counseling, and terminating of employees.
- Assists in the responsibility for direct investment of IBT operating funds and coordination of investment in IBT retirement funds.
- Provides information and training pertaining to DB Pensions to Joint Council and Local Union officers, stewards, and Teamster members.
- Prepares paperwork for fiduciary liability insurance applications, Pension Benefit Guaranty Corporation reports, annual Plan report summaries and Form 5500 filings for
TAPP and RFPP. - Share responsibility of sending out notices and amendments to the TAPP and RFPP Plans to participants.
- Assists in the development and executing of investment strategies for General and Defense Funds investment portfolios.
- Assists in the management and monitoring, on a daily basis, of cash flow requirements for all IBT accounts.
- Implements and controls asset allocation strategies within established investment policy and economic environment.
- Coordinates communication and information flow between managing fiduciaries, custodian banks, and in-house staff.
- Assists in evaluating performance of managing fiduciaries and reports findings to the Board of Trustees.
- Reviews investment proposals submitted to the IBT and coordinates due diligence tests with the General Counsel.
- Reviews current legislative or regulatory actions applicable to investments to ensure compliance by the IBT.
- Assists in reviewing and signing of legal, actuarial, custodian, and investment manager invoices for all funds.
- Attends professional meetings, conferences, and seminars as a representative of the IBT when requested.
- Performs in speaker capacity at meetings, conferences, etc., as need arises.
Education and Experience:
- Advanced degree in business or finance required.
- Professional certification such as CFA, CFP, CPA, CCM, or CEBS preferred.
- Ten years’ experience in portfolio management techniques for a large institution required.
- Three to five years’ supervisory experience required.
- Demonstrated knowledge of ERISA law and fiduciary standards as well as modern portfolio theory required.
- Union experience preferred.
- Ability to perform complex tasks and determine proper course of action considering multiple variables.
- Good time management and organizational skills.
- Ability to work under pressure and manage strict deadlines and stressful situations.
- Strong analytical and problem-solving skills.
- Detail-oriented and highly motivated individual.
- Ability to conduct in-depth research.
- A team player and possessing the ability to work independently.
- Ability to travel as necessary.
Starting salary range is $110,000 - $140,000, dependent on experience, with a strong benefits package including FICA reimbursement, 100% employer-paid health and welfare plan, union pension, 401(k), FSA, and vacation and sick leave.
The Teamsters is an Equal Opportunity Employer, and strongly encourages women, people of color, LGBTQ individuals, and candidates with diverse backgrounds and life experiences to apply.
To apply, please submit a cover letter and resume to Chris Lynn at [email protected], Subject: “Assistant Director position.” No phone calls, please.