Finance Pension Manager

09 Nov 2016
06 Jan 2017
Contract Type
Full Time
ABB ( ) is a leader in power and automation technologies that enables utility and industry costumers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people. For our center of expertise in Rotterdam, we are currently looking for a Finance Pension Manager

• Monitor the major pension plan's assets and performance.
• Develop and enhance tools for local and central management reporting.
• Manage the day to day global custody relationship for the identified DB plans.
• Act as focal point for Defined Contribution plans, including monitoring of the investment platform, review the investment options, interact with local HR management and advise the trustee.

Pension Accounting

• Coordinate the annual re-measurement of the ABB Defined Benefit plans. Set out detailed instructions and deadlines for the year-end reporting process.
• Prepare the employee benefit footnote in the annual report.
• Review, assess and advise on all pension accounting-related issues which may results from changes in pension plans, from de-risking and market movement scenarios.
• Maintain and update SOX processes, develop controls framework, documentation and test plans in respect of pensions.
• Review of new accounting pronouncements on pensions, analyze the impact where applicable.
• Review liability modelling to evaluate risk profile of liabilities in major ABB countries.

Pension Management

• Provide input to the specific designated Country Investment Committee on all elements that influence the funded status and investment risk and performance of the pension plans (new due to extended scope of countries).
• Monitor the plans' assets and liability developments.
• Provide management reporting to the head of the team and other pension plan stakeholders. These reports include the asset manager and pension plan performance, risk measures and funded status, on a local level to the country and regional CFOs, Treasurers and Boards and to the head of the function and treasurer at group level.
• Participate in the global asset management selection and monitoring process. This process involves coordination of the search process for new managers, and participating in the review process of existing managers and communication of the findings to the Investment Committee or Board.
• Review the performance of asset managers, share the analysis and conclusions with the team and propose action plan in case of sustained underperformance or risk elements. Obtain approval from the group function and Investment Committee on the action plan, and communicate and implement the action agreed with the asset manager.
• Provide input to the accounting assumption setting process (discount and inflation rates) for the year end closing.
• Calculate funding position of the plan on a monthly basis, and communicate these to the relevant stakeholders.
• Provide consulting support to Defined Contribution plans, particularly with regard to investment options offered to members.

Pension Risk Management

• Deputy of the ALM studies process on selected pension plans together with Head of the Risk Management, Head and Deputy Head of ABB Group Pension Management Team, including risk level review, selection of asset classes to be included and communication to the Board.
• Develop market views and apply these in the dynamic asset allocation of the managed plans.

Skills and Requirements of Center of Expertise Team Members

• University degree in Finance/Business Administration
• Relevant experience minimum 3 years in liabilities, asset and pension fund management
• Relevant experience of work with plan boards and committees
• Relevant capital market experience
• Certified Financial Analyst designation, Actuarial Degree, Investment Management
• Fluent in written and verbal English
• Excellent leadership skills, interpersonal skills and ability to cooperate with other teams and stakeholders
• Self-motivation and senior judgment to provide efficient and independent decision making, analytical mindset and maintain an interest in capital markets