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Commonwealth of Pennsylvania |
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POSITION DESCRIPTION FOR JOB POSTING |
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Position Number: 50565252 |
Description Activated On: 10/22/2025 11:06:29 AM |
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. The individual in this position reports to the Accountant 4 of the Defined Contribution Plans (DC Plans). The DC Plans are comprised of the State Employees’ Defined Contribution Plan (DC), which was authorized by Act 2017-5, and the Commonwealth of Pennsylvania Deferred Compensation Plan (DCP), which was authorized by Act 1987-81. This position directs the accounting and financial operations of the DC Plans and supervises a staff of two accountants. This position is responsible for approving entries, reviewing reconciliations, reviewing financial statements, and reviewing invoices submitted by lower-level accountants. Oversees the timely posting of contributions and serves as the key liaison in conjunction with SERS Office of Member and Participant Services (OMPS) between employers and the Third-Party Administrator (TPA). Directs the compilation of DC Plans’ information for various annual reports as well as the annual audit in conjunction with other areas within SERS Office of Financial Management (OFM). Ensures that the two DC Plans’ accountants are maintaining files, contacts, and logs. Serves as one of the TPA authorized plan signer’s and submits invoices for payment after review. Maintains the general ledger system for the DC Plans and serves as subject matter expert for various DC Plans’ systems. |
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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. Review settlement of DC Plans’ daily investment activity with Pennsylvania Treasury. Review reports prepared by lower-level accountant before providing to DC Plans’ TPA as necessary. Review deposit of Defined Benefit (DB) and DC Plans’ checks as needed. Assist DC Plans’ accountants with responding to requests from TPA regarding DC Plans’ funds received that they are unable to match to transactions. Oversee timely posting of DC contributions to include possible loss of earnings invoicing of employers. In addition, attend/run the weekly DC Plans’ contribution issues meetings with TPA. Review negative contribution/forfeiture requests for DC as well as DC corrections from SERS Office of Member and Participant Services (OMPS), then notify the two DC Plans’ accountants to provide to TPA after approval. Oversee updating of log for Option 4 rollovers from SERS to DC Plans, then notification to General Accounting (GA) division of OFM in the event OMPS determines that it isn’t in good order if applicable. Oversee updating of various DC cumulative files that are sent weekly to TPA. Review annual analysis of DCP over deferrals, then provide to TPA for determination. Review monthly analysis and review of fees withheld by TPA. Oversee monitoring of the monthly payment of the DCP annuity option and work with TPA and/or annuity provider to resolve any discrepancy. Review any DC items processed through SERS’ internal recordkeeping system, SERIS, as well as other items going through DC Plan’s uninvested cash using various reports from Pennsylvania Treasury, SAP, and Pennsylvania Treasury’s sub custodian. Then if applicable, approving in general ledger system for lower-level accountant to post. Oversee updating of log with any receipts applied to annual DC per participant charge invoices, which were authorized per Act 2020-23. Review various items related to DC Plans’ monthly close including but not limited to: journal entries, general ledger reconciliations, financial statements, and monthly close checklist. Direct the preparation of various items related to DC Plans’ annual reporting including but not limited to: year-end entries and reconciliations, budget book, annual report, audit, and component unit reporting. Monitor and assist in coordinating the annual independent audit of the DC Plans, which includes providing detailed technical assistance regarding interpretation and implementation of practices to be in compliance with Governmental Accounting Standards Board (GASB) and/or Financial Accounting Standards Board (FASB) standards. Direct the monitoring of DC Plans’ income and expenses to ensure adequate funds are available to pay expenditures. Escalate if it appears that expenditures will exceed income in the next couple of years or if funds need to be moved between cash accounts. Assist with monitoring any changes to IRC pertaining to DC Plans. Assist with the Request for Proposal (RFP) process if necessary. Assists with review of the SOC reports over internal controls for items applicable to DC Plans. Assists fiscal management in the preparation of the budget for the DC Plans. Also, facilitates the receipt of the DC plan per-participant administrative charge that is assessed to employer agencies, then assists fiscal management with the review of the associated Accounts Receivable Aging Report for outstanding per-participant charge invoice payments. Assists in the review, design, and implementation of effective and efficient accounting systems, internal control systems, and accounting procedural manuals. Participates in the analytical review and implementation of commonwealth legislation, new GASB pronouncements, and IRS regulations. Responds, as directed, to information requests received from SERS staff, commonwealth agencies, and external entities. Attend meetings with SERS staff when accounting and financial topics are under consideration. Assist in the preparation of management information reports and analytical reports as needed by the staff. Consult with Bureau and Division Directors to develop and implement effective procedures for conducting business. Review investment manager and TPA invoices prepared by DC Plans’ accountants, then submit payment. Oversee maintenance of contact list for DC Plans. Review form to add/remove employer or consultant access to TPA’s system, then submit to TPA. Oversee tracking responses to annual email sent to employers regarding access to TPA’s system. Then, review form to add/remove access if necessary and submit to TPA. Oversee updating TPA’s secure site password as needed, then share with other DC Plans’ staff. Create and/or update processes as needed. Obtain appropriate training and knowledge of various systems to adequately perform duties. Serve as backup for any DC Plans’ accountant tasks. Assist with training staff regarding DC Plans’ accountant tasks. Escalate any issues if necessary. Perform related duties as required. Participates in the performance of subordinate work consistent with organizational and operational requirements. Performs the full range of supervisory responsibilities. |
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. Directs accounting and financial aspects of the DC Plans. Priorities are independently set, and supervisor periodically reviews work. Appropriately manage resources and multiple priorities with attention to detail and accuracy. Strong financial accounting skills are required, with an ability to research and apply accounting standards. Apply critical thinking to identify and resolve items. Identify and recommend improvements. Memos on significant topics will be prepared for the review and approval of the supervisor as needed. Run effective meetings with staff, supervisors, and internal or external parties. |
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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. N/A 5. N/A 6. N/A |
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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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