Benefits Officer (Pension Investments) at the African Union (AU)

The African Union (AU) is a continental body consisting of the 55 member states that make up the countries of the African Continent. It was officially launched in 2002 as a successor to the Organization of African Unity (OAU, 1963-1999). We are an Integrated, Prosperous and Peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena.

We are recruiting to fill the position below:

Job Title: Benefits Officer (Pension Investments)

Requisition ID: 2406
Location: Addis Ababa, Ethopia
Job Grade: P2
Contract Type: Fixed term
Division: Compensation and Benefits
Reports to: Head of Compensation and Benefits Division
Directorate/Department/Organ: Human Resources Management Directorate

Purpose of Job

• To provide technical support for the management of pension investments as well as administration of all staff benefits, entitlements and any other staff welfare related issues. Provide Financial Statements of the AU Staff Pension Fund.

Main Functions

• Provides technical support in the management of a portfolio of pension investment schemes, verifying income generated thereof and reporting on their activities. 
• Provides technical support in monitoring, analyzing and interpreting internal data maintained on investment transactions pertaining to a particular investment fund and income generated thereof against reports from the holding or custodian banks.
• Carry out the investment accounting and investment performance and periodic reporting of Pension Fund assets. 
• Provides technical support in the overall administration of staff benefits.
• Provides support in following up on the activities of the division, including monitoring and evaluating progress made in line with a predefined strategic plan.
• Maintains profile of staff benefits matters and recommend new and expand on existing policy areas for planned research on the area.
• Maintain the staff details related to Pension.
• Administers and manages participation and separation processes, as well as complex post-retirement matters, including the determination and calculation of all types of pension benefits.
• Provides support in setting the overall research direction of a relevant policy area.
• Proposes new methods and procedures to ensure the smooth functioning of the Unit
• Contributes in timely generation and analyzing accurate reports for the respective Division and AU’s internal use.
• Coordinates the delegation and execution of defined research areas.
• Participates in the organization of relevant meetings, congresses and conferences with stakeholders.
• Engages with relevant mid-level stakeholders and develop working relationships. 
• Supports the promotion of the activities of the Division including preparing leaflets, guidelines and fact sheets
• Produces draft reports and participate in the preparation of budget and work programs related to the functioning of the Unit/Division
• Provides technical support to internal and external stakeholders
• Investigates and resolves difficult cases.

Specific Responsibilities

• Provides support in managing a portfolio of pension investment schemes, verifying income generated thereof, recording and reporting on their activities. 
• Provides support in monitoring, analyzing and interpreting internal data maintained on investment transactions pertaining to a particular investment fund and income generated thereof against reports from the holding or custodian banks.
• Provides support in ensuring that pension investments are safeguarded; preparing relevant financial reports; monitoring account reconciliations between the internal record and all financial data generated from holding or custodian banks.
• Carry out the investment accounting and investment performance and periodic reporting of Pension Fund assets. 
• Provides support in evaluation of pension and insurance schemes to ensure value for money services as well as competitiveness of proposed scheme in comparison to the current market.
• Provides support in the promotion of awareness of pension and its regulations;
• Assists the Head of Division in providing baseline data and reports for use during reporting to the Board of Trustees as well as other relevant internal and external stakeholders
• Enrolls eligible staff to the AU Pension Scheme, Medical and Life Group insurance schemes;
• Updates the staff pension contribution on monthly basis including changes in contributions in the in-house developed application
• Provide periodic reports to the Head of Compensation and Benefits on status of pension contribution
• Works on analytical reports linked to pension contribution
• Provide support in the development and review of staff benefits related and investment management policies and procedures.

Academic Requirements and Relevant Experience

• Bachelor's Degree in Finance or Accounting, with 5 (five) years relevant work experience in financial management, budgeting, investment management and accounting, payroll administration and management, out of which at least 2 years with investment/loan or interest management experience. 

Or

• Master’s Degree holders are required to have 2 (two) years relevant work experience as mentioned above.
• Certification in Accountancy is required, like ACCA, CIMA, CPA etc.
• Working knowledge of multiple investment product types (equities, fixed income, derivatives) and associated accounting treatment.
• Knowledge of investment valuation accounting standards.
• Knowledge of proper internal controls for investment transactions.
• Work experience with the SAP Finance module or any similar system
• Experience in participating in the daily management of a pension system, in international organization
• Experience in handling staff insurance matters is required. 
• Experience processing staff benefits in a large similar international organization with a large employee base is mandatory
• Preparation of Financial Statements
• Work experience in International Public Sector Accounting Standards (IPSAS) is an advantage

Required Skills:

• Planning and organizational skills
• Ability to work in teams and in a multi-cultural setting 
• Communication and report writing skills 
• Strong capacity to manage, organize, compile and analyze data
• Knowledge and understating of staff benefits and entitlement policies, standards and systems 
• Ability to use Microsoft Office suite and AU computing systems
• Knowledge and working experience of an ERM system. Work experience in SAP system is an added advantage
• Inter-personal and customer/ client service skills
• Proficiency in one of the two AU official working languages (French or English) is required and fluency in another AU language(s) (Arabic, English, French, Kiswahili, Portuguese, and Spanish) is an added advantage

Leadership Competencies:

• Change Management
• Managing Risk

Core Competencies:

• Teamwork and Collaboration
• Accountability awareness and Compliance
• Learning Orientation
• Communicating with Influence

Functional Competencies:

• Analytical Thinking and Problem Solving
• Job Knowledge and information sharing
• Drive for Results
• Continuous Improvement Focus

Tenur of Appointment

• The appointment will be made on a regular term contract for a period of three (3) years, of which the first twelve months shall be considered as a probationary period. Thereafter, the contract will be for a period of two years renewable, subject to satisfactory performance and deliverables.

Gender Mainstreaming

• The AU Commission is an equal opportunity employer and qualified women are strongly encouraged to apply.

Language:

• Proficiency in one of the AU working languages (French or English), is required and fluency in another AU official working language(s) (Arabic, English, French, Kiswahili, Portuguese, and Spanish) is an added advantage.

Remuneration
Indicative basic salary of US$ 31,073.00 (P2 Step1) per annum plus other related entitlements e.g. Post adjustment (46% of basic salary), Housing allowance US$ 22,932.00 (per annum), and education allowance (100% of tuition and other education-related expenses for every eligible dependent up to a maximum of US$ 10,000.00 per child per annum), for internationally recruited staff and a maximum of $3,300 per child per annum for locally recruited staff.

Application Closing Date
21st November, 2024; 11h59 p.m. EAT.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Click Here to Download CV Template (MS Word)

Note

• Only candidates who meet all job requirements and are selected for interviews will be contacted.
• Consideration will be given only to those candidates who have submitted a fully completed online application with a curriculum vitae (CV), an African passport, and the required academic qualifications, such as Diplomas (Bac+2), Bachelor's degrees (Bac+3), Master's degrees (Bac+5) and any relevant certificate in line with the area of expertise.
• The African Union is an equal opportunity employer, and female candidates are strongly encouraged to apply.
• Candidates from less represented countries within the African Union are strongly encouraged to apply for positions that fit their profiles. These countries include Algeria, Angola, Cape Verde, Central African Republic, Comoros, Egypt, Equatorial Guinea, Eritrea, Eswatini, Guinea, Guinea-Bissau, Liberia, Libya, Madagascar, Mali, Morocco, Namibia, Niger, Sahrawi D.R., Sao Tome and Principe., Seychelles, Somalia and Tunisia.