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Fund Accountant

West Midlands Pension Fund
Wolverhampton, United Kingdom
£54k - £57k
Closing date
Oct 19, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
The Fund is one of the UK's largest pension funds providing, from it's 'state of the art' new building at i9 in Wolverhampton, local authority pension benefits for employees across the West Midlands. The Fund manages and administers the pension interests of over 330,000 scheme members, 800+ employers and currently has over £20 billion in assets under management.

We are currently seeking a Fund Accountant to lead the in-house Fund Accounting function as part of the WMPF Finance Service Area and act as the relationship lead for the relationship between WMPF and its outsourced fund accounting provider covering the Admitted Body Separate Funds (ABSFs). The postholder will oversee the Investment Accounting functions within the Fund's Finance Service Area, including the management of external specialist software and preparation of accountancy reports, and deputise for the Head of Finance

Principal Duties and Responsibilities:

The post holder has the following principal areas of responsibility:
  • Under the Direction of the Head of Finance lead the organisation of work ensuring a high performing Fund & Investment Accounting team, developing a robust control environment which ensures the stewardship and prudent management of Pension Fund finances.
  • To Lead the management and reconciliation of accounting records related to investment assets, income and cashflow management.
  • Support the Deputy Head of Finance in the preparation of year end accounts as it relates to investment and fund accounting.
  • To be responsible for establishing and documenting controls and processes as it relates to the service area
  • Working with other service areas within WMPF e.g. Investments, and Governance Risk and Assurance, to develop internal controls and processes as part of the Fund's Line 1 financial controls.
  • Support the management of tax within WMPF particularly in relation to its investment activities.
  • To line manage and supervise the Fund & Investment Accounting Team, including the provision of support and training to junior colleagues in their area of financial responsibility.

Specific Duties and Responsibilities

Leadership & Management:
  • Lead, manage, advise and support the finance team. To maximise individual performance by appraising direct reports and other staff against established competencies and ensure, working with direct reports, that work is managed, delegated and co-ordinated across the service area.
  • Support the Head of Finance and Deputy Head of Finance in setting and developing a customer focused culture within the finance team. Ensure excellent customer services is consistently delivered to both internal and external customers and stakeholders.
  • Financial appraisal of projects and initiatives (including the effects of new legislation). To undertake ad hoc assignments and financial analyses as necessary in support of the wider functions and responsibilities of the Fund.
  • Ensure the Fund meets statutory and best in class reporting timescales and reporting standards for WMPF.

Investment & Fund Accounting:
  • Take the primary lead in the management of the Fund's investment accounting and reporting.
  • To be the lead on all Fund Accountancy recording and reporting, together with the development and management of relevant systems and resources.
  • To lead effective control and reconciliation of all input, output and balances from the accounting system including those with external records, e.g. bank statements, safe custody, tax office, etc.
  • To undertake Analysis and inclusion of dividends, rental income, capitalisation issues, currencies and taxation issues etc.
  • To support the Deputy Head of Finance in the creation of the statutory Annual Report and Accounts ensuring timely and accurate reporting of investment activity and related cashflows to effect the closedown of accounts at year end
  • To manage internal/external audit queries in relation to the production of the accounts as it relates to the Fund's accountancy and investment assets.

Custodian and Treasury Management:
  • Responsible for the day-to-day management of the Fund's investment related cash calls and investment income ensuring cash balances remain within agreed tolerances, liaising with the Deputy Head of Finance, and Finance Manager as necessary.
  • Act as the main contact for WMPF with its Custodian for day-to-day account management.
  • Lead the management of custodian accounts.

Internal Controls & Policies:
  • Maintenance and development of Fund and Investment accounting records and systems.
  • Maintain the Fund's valuation policy.
  • To develop, implement and maintain suitable controls/procedures appropriate to an environment of high financial values and high transaction volumes.
  • To ensure that procedures, practices and systems are operated, maintained and developed to control settlement and accounting outcomes.
  • To oversee the analysis of errors within accounting systems and develop appropriate solutions which may have a direct impact on the Funds reputation and financial stability.
  • To prepare and maintain system/procedure notes relating to the duties undertaken by the post holder ensuring their continued relevance, accuracy and completeness.

  • To support the collation and preparation of quarterly reports to be reported to Senior Managers and Fund Committee's.
  • To support with the drafting financial reports for Pensions Committee through the provision of timely accountancy reports.
  • Provision of financial management information, reporting and advice as required.
  • Responsible for responding to FOI requests and liaising with governance services as require

Technical Guidance & Relationships:
  • To interpret and effectively implement new legislation relevant to the duties of the role.
  • To maintain awareness of funding sources with a view to maximising the resources available to the Fund.
  • Dealing with Finance related queries.

Tax and VAT:
  • To be responsible for tax related information in respect of investments.

The successful candidate will hold a relevant accountancy qualification and have extensive experience of market settlement procedures and accounting treatment for different investment types at a senior level within a large organisation.

For more information or an informal discussion regarding this post please email

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