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About the Role
The Calculations Specialist is responsible for providing calculation support specific to event processing, requiring technical expertise to review, validate, and perform calculation processing for all events. This role ensures accurate and timely benefit calculation support is provided as an integral part of a multi-functional team, requiring frequent coordination with Operations Support and Client Services.
Responsibilities
- Perform calculation review and processing of cases based on QAM calculation controls for all events (Retirements, Terminations, Family Law, Death, Buybacks and Transfers)
- Serve as a resource to other areas of Pension Services for ongoing calculation support
- Assist other areas of the Actuarial & Data Insights teams with special projects
- Maintain high working knowledge of all events/processes for on and off-system calculations
- Ensure processing/calculation issues are escalated and resolved within the SLA timeframe
- Ensure the accuracy of benefit calculations and correct all identified errors according to HOOPP standards
- Keep the Calculation & Data Services team informed of issues/problems relating to case processing
- Maintain a high level of processing accuracy and a standard of information sharing
- Ensure team members are updated on issues/workarounds/process flow changes regarding event processing
- Maintain contact with the Client Services Team, Training Team, and other Operations Support teams
- Proactively provide feedback, escalate issues, and recommend solutions to the Manager
- Participate in weekly Calculation meetings
- Provide continuous feedback and suggestions for process improvements
- Escalate issues to the Manager in a timely manner
- Maintain and document procedures related to Calculation support
- Support documenting and maintaining procedures for various types of exception processing
- Update iKNOW with information related to QAMs
Requirements
- University degree or Community College diploma and/or a combination of equivalent training, education, and experience
- Three to five years of progressive experience in the pension industry
- At least two-three years of experience at a pension benefits specialist level
- Knowledge of pension plan administration and governing legislation (Pension Benefits Act, Income Tax Act) and other general pension principles
- Ability to follow, analyze, and understand calculations is imperative
- Strong mathematical and analytical skills
- Good interpersonal, oral, and written communication skills
- Excellent time management skills, ability to plan and prioritize workload
- Adaptability to a changing multi-tasked environment
- Self-motivated, adaptive, quality-conscious, and committed to deadlines
Skills
- Calculation review
- Calculation processing
- Quality Assurance Module (QAM) controls
- Retirement event processing
- Termination event processing
- Family Law event processing
- Death event processing
- Buyback event processing
- Transfer event processing
- Pension Services support
- Actuarial & Data Insights support
- On-system calculations
- Off-system calculations
- Service Level Agreement (SLA) adherence
- HOOPP standards
- Case processing issue resolution
- Information sharing
- Process improvement
- Documentation maintenance
- Exception processing documentation
- iKNOW updates
- Mathematical skills
- Analytical skills
- Interpersonal skills
- Oral communication
- Written communication
- Time management
- Workload planning
- Workload prioritization
- Adaptability
- Self-motivation
Location
- Ontario
Work Type
- Full-time
Experience Level
- Three to five years progressive experience in the pension industry
- At least two-three years at a pension benefits specialist level
Education Level
- University degree or Community College diploma
- Pension Plan Administration Certificate (PPAC) or Certified Employee Benefit Specialist Program (CEBS) would be an asset
Salary/Compensations
- $52,000 - $79,000 CAD
Benefits
- Competitive, 100% company-paid extended health and dental benefits for permanent employees
- Coverage supporting diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year)
- Parental leave top-up
- Health spending account
- Optional post-retirement health and dental benefits subsidized at 50%
- Yoga classes
- Meditation workshops
- Nutritional consultations
- Wellness seminars
- Membership in HOOPP’s world class defined benefit pension plan
About the Company
- HOOPP is committed to providing a financially secure retirement for Ontario healthcare workers.
- HOOPP fosters a high-performance, people-focused culture.
- HOOPP is committed to equity, diversity, and inclusion.
- HOOPP offers learning and development initiatives, including workshops, Speaker Series events, and access to LinkedIn Learning.
- HOOPP may use artificial intelligence tools to assist in screening, assessing, and selecting applicants.
Equal Opportunity
- Our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves.