Recruitment posting
LAPP Corporation
Competition #: 302
Ministry : Treasury Board and Finance
Opening Date : 2016/09/21
closing Date : 2016/10/05
Role : Employee Nominee (Management/Out-of-Scope)
It is recognized in Alberta as a fundamental principle and as a matter of public policy that all persons are equal. Diversity and inclusion are valued and supported on the boards of Alberta's public agencies.
The President of Treasury Board, Minister of Finance is seeking applications from individuals interested in serving as the employee nominee (management/out-of-scope) on the Local Authorities Pension Plan Board of Trustees and Board of Directors.
The Local Authorities Pension Plan (LAPP or the Plan) is a defined benefit pension plan established in 1962 for the employees of local authorities in Alberta. The employers include organizations from the health care sector, cities, towns, villages, municipal districts, colleges, school boards and other public sector organizations.
The President of Treasury Board, Minister of Finance is the legal trustee and administrator of the Plan, which is governed by a 14-member Board of Trustees, nominated by employees, employers, retirees and government. As legal trustee, the Minister delegates different functions of the Plan as follows:
- Alberta Local Authorities Pension Plan Corp. (ALAPP Corp.) is responsible for strategic guidance of LAPP and support of the Board of Trustees;
- Alberta Investment Management Corporation (AIMCo) is responsible for investment management;
- Alberta Pensions Services Corporation (APS) is responsible for benefit administration; and
- The Deputy Minister of Alberta Treasury Board and Finance is responsible for LAPP's financial statements.
Contributions are collected from employers and employees and the money is invested in equities, bonds and other investment vehicles. The investment income and the contributions are used to pay pension benefits to LAPP retirees, now and in the future.
The LAPP operates with both a Board of Trustees and a Board of Directors. While the members on both Boards are the same people, each Board has a unique set of responsibilities.
The LAPP Board of Trustees has a defined set of responsibilities which are set out in legislation and include:
- Setting contribution rates
- Recommending plan rule changes
- Setting investment and administration policy
- Recommending new employers
- Hearing appeals
The Board of Directors are directors of ALAPP Corp., which has much broader responsibilities, including:
- Providing high level strategic guidance of the Plan
- Establishing strategic policies
- Identifying risks to the Plan
- Consulting with stakeholders
- Assessing the cost-effectiveness of the Plan
Appointments are made by Order in Council for terms of up to four years with an opportunity for renewal. Appointments for periods of less than four years may be made to provide for proper rotation and to assist with board renewal. In accordance with the Alberta Public Agencies Governance Act, the maximum tenure is 12 years.
As the employee nominee (management/out-of-scope) on the LAPP Board you will bring extensive business experience and success in leadership roles, and significant financial, investment and risk management expertise. You have exceptional interpersonal and communication skills, and a track record of building collaborative relationships. A working knowledge of benefits administration and governance, and a strong interest in pension plan issues would be an asset.
Additional skills and experience should include:
- Experience analyzing complex financial and policy issues;
- Ability to make decisions based on sound judgment;
- Ability to separate governance issues from day-to-day management issues;
- Broad investment knowledge (e.g. securities and financial markets);
- A general understanding of the financial and legal complexities of pension plans;
- Knowledge of current and emerging pension issues.
Candidates are not required to be (but may be) LAPP members.
Each nomination must be signed by a minimum of ten management and out-of-scope LAPP employee members. Alternatively, a written nomination from an employee association representing management and out of scope LAPP employee members may be provided.
The successful candidate should be able to make the necessary time commitment, 20 - 30 hours per month. Board meetings occur approximately once every two months and involve a full agenda that requires preparation time. There are also committee meetings and development opportunities. Board meetings are held in Edmonton, Alberta.
Remuneration for attendance at Board meetings is paid in accordance with Schedule 1, Part A of the Committee Remuneration Order (O.C. 466/2007) as follows:
A member of a committee, other than the chairman, shall be paid
(a) $164 for up to and including four hours in any day, or
(b) $290 for over four hours and up to and including eight hours in any day, or
(c) $427 for over eight hours in any day, spent on the business of the committee.
Travel expenses for attendance at Board meetings are reimbursed as per Travel, Meal and Hospitality Expenses Policy.
Candidates must either:
1) Submit with their application a nomination form signed by a minimum of ten management or out-of-scope LAPP employee members; or
2) Submit with their application a written nomination from an employee association representing management and out-of-scope LAPP employee members.
Incomplete forms may be considered ineligible for assessment.
To download the nomination form, please click here.
To apply, please email your submission to feedback@lapp.ca or fax to (780) 427-5030. When applying, please submit your cover letter, resume and nomination forms as one file. You will be contacted if you are selected for an interview. Our contact number is (780) 427-5447 if you have any questions.
Carefully read the Recruitment Posting and the Position Profile to ensure this is an appropriate opportunity for you. Applicants are advised to provide information that clearly and concisely demonstrates how their qualifications meet the advertised requirements.
Online applications are preferred, to apply, click on the 'apply' button, create or sign into your account in the ePAAS system; upload your resume, view the listing under Current Opportunities and click on 'submit application'. The uploaded resume will be automatically attached, a cover letter and other documents can be uploaded and attached at this time before clicking the 'apply' button.
If you are unable to apply online, please submit a cover letter and resume, quoting the recruitment posting competition number, to the HR contact provided.
We thank all applicants for their interest. All applications will be reviewed to assess which candidates' qualifications most closely match the agency's requirements. Only those selected for interviews will be contacted to advance to the next step in the appointment process. You can check the status of each competition on-line at http://alberta.ca/public-agencies.cfm.
All potential candidates will be screened for potential conflicts of interest.
Please Note: Successful applicants will have the following information about them made publicly available on the Public Agency Secretariat Website: name, public agency and position appointed to, appointment term and remuneration received.