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Commonwealth of Pennsylvania |
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POSITION DESCRIPTION FOR JOB POSTING |
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Position Number: 00170894 |
Description Activated On: 9/22/2026 1:38:52 PM |
Position Purpose: Describe the primary purpose of this position and how it contributes to the organization’s objectives. Example: Provides clerical and office support within the Division to ensure its operations are conducted efficiently and effectively. This position manages and directs the financial activities of PSERS Hybrid Plan including the new Defined Contribution Plan (DC) investments under Act 5 and the production and analysis of the annual 1099-R and 1042-S forms. This position reports directly to the Manager who directs this division. The incumbent independently plans, organizes and directs an Accountant 2 engaged in all aspects of PSERS Hybrid Plan including the defined contribution plan investments under Act 5, annuitant disbursements for 1099 analysis and as OFM's testing coordinator. This position also serves as the oversight function for the overall investment reporting of the Fund's DC plan investments. Such reporting includes various financial management and performance-related reports of mutual funds that hold domestic and international equities, domestic and global fixed income, short-term, derivatives, options, futures, commodities, FX transactions to Senior Management. |
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Description of Duties: Describe in detail the duties and responsibilities assigned to this position. Descriptions should include the major end result of the task. Example: Types correspondence, reports, and other various documents from handwritten drafts for review and signature of the supervisor. Responsible for overseeing an accountant 2 with the analysis of Financial and Management Reports as well as related documentation received from Voya (Third Party Administrator). Work closely with TPA's accounting staff. Responsible for the Section's journal entries including accrual related activity to be journalized. Responsible to ensure the accuracy and complete reporting of all cash related activity for the Defined Contribution Plan and associated journal entries. This position independently performs important and responsible reconciliation and analysis of general ledger accounts as they relate to diverse investment portfolio of PSERS new Defined Contribution plan (DC) investments and Hybrid Plan under Act-5 to ensure accuracy for internal financial reporting and posting to the Annual Comprehensive Financial Report (ACFR). Responsibilities include, but are not limited to, researching and resolving routine, unique or complex investment accounting transactions and ensuring that the monthly reconciliations of cost, market, purchases, sales, accrual, pending trades, income, unrealized and realized currency and security gains/losses and income accruals posted to the general ledger are complete and accurate and in accordance with generally accepted accounting principles. Recommend necessary corrections to Third Party Administrator based on identified anomalies. Investment accounting transactions involve, but are not limited to equity, fixed income, options, futures, foreign exchange contracts, corporate actions, and various other derivatives. Maintains and reconciles the PSERS General Ledger to the TPA through review of multiple reports. Research new and complex investment instruments purchased by the Fund and offered as part of the Defined Contribution plan to ensure proper accounting theory is applied in reporting the Fund's investment transactions. Be responsible to monitor the receipts and disbursements in accordance with applicable legal requirement. Work with the implementation consultant, third party administrator and other key areas at PSERS to implement all financial management activities of the new hybrid plans. Assist the Manager to establish best practice accounting policies, procedures and General Ledger accounts including internal controls for administering and overseeing the hybrid plans. Responsible for assisting in the analysis, compilation, reconciliation and production of the annual 1099-R tax forms that are provided to over 280,000 recipients and other miscellaneous duties. The Accountant 3 provides performance input to the division chief for work performed by the Accountant 2. Provides leadership role and acts as the OFM testing coordinator in the ongoing enhancements to the new Pension Administration System, V3 -Browser. Acts as a business liaison and subject matter expert on all aspects of PSERS Hybrid Plan including the defined contribution plan investments under Act 5 and annuitant disbursements. Responsible to ensure all administrative expense invoices from the TPA are expenses covered by the contract. Ensure the accurate reporting and accounting of the DC expenses including posting accruals for outstanding invoices. Responsible to approve the DC Transfer Schedule and ensure the information is shared with internal and external stakeholders of the DC plan timely. Responsible to oversee and approve the reconciliation of the Transfer to DC due to member Class Election Changes and submission of supporting calculation document and invoices to Treasury and Comptrollers biweekly per Transfer Schedule. Responsible to verify that transfers were properly posted to participants’ accounts in Voya Sponsor Web after the receipt of the funds. This position requires maintaining a thorough knowledge of government and financial accounting methods as applied to investments, generally accepted accounting principles and procedures, the Fund's investment objectives and guidelines, various investment and accounting software packages, and the investment markets and their impact on Fund performance. Technical understanding of all the Fund's asset classes as well as short-term investments, and various manager investment strategies is required. Communicate, verbally and in writing, with the custodial bank, senior Treasury officials, senior management staff, investment managers' operations' managers, brokers, Fund consultants and independent auditors to effectively coordinate the transaction, reporting and performance activity of the Hybrid plan investments. The incumbent is also responsible to develop and maintain controls for detecting misuse and/or loss of funds by monitoring the new Third-Party Administrator for administering the Defined Contribution Plan. Responsible for examination of financial data as submitted by the Third-Party Administrator. Ensure the accuracy and thoroughness of documentation. This position will assist the team with the analysis, compilation, reconciliation and production of the annual 1099-R tax forms that are provided to over 280,000 recipients. Assign work, monitor workload, evaluate performance and provide training in established and new procedures for staff under supervision. Initiate and oversee the streamlining of work processes through process review, analysis and implementation of the new or improved process. Extensive knowledge and skill in use of Microsoft Office applications is required. Maintain working knowledge of various software programs including Bloomberg, Voya's Sponsor-web, Velocity, SAP, Lawson and Microsoft's suite of products including Excel, Word, Outlook and PowerPoint. |
Decision Making: Describe the types of decisions made by the incumbent of this position and the types of decisions referred to others. Identify the problems or issues that can be resolved at the level of this position, versus those that must be referred to the supervisor. Example: In response to a customer inquiry, this work involves researching the status of an activity and preparing a formal response for the supervisor’s signature. Responsible for independent decision making relating to work assignments. The incumbent independently plans, organizes and directs an Accountant 2 engaged in all aspects of PSERS Hybrid Plan including the defined contribution plan investments under Act 5. This accountant will obtain guidance from Managers for situations involving complex law changes or significant policy changes that impact PSERS Hybrid Plan including Defined Contribution Plan. |
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Requirements Profile: Identify any specific experience or requirements, such as a licensure, registration, or certification, which may be necessary to perform the functions of the position. Position-specific requirements should be consistent with a Special Requirement or other criteria identified in the classification specification covering this position. Example: Experience using Java; Professional Engineer License Experience: Licenses, registrations, or certifications: 1. N/A 2. N/A 3. N/A 4. 5. 6. |
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Essential Functions: Provide a list of essential functions for this position. Example: Transports boxes weighing up to 60 pounds.
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