Reports To: Executive Director
Salary Range: Competitive, Based on Experience.
SUMMARY: Dallas Police and Fire Pension System (DPFP) is an independently governed entity and a component unit of the City of Dallas. DPFP serves to provide retirement, death and disability benefits to the City of Dallas police officers and fire fighters. DPFP has approximately 10,000 members and $2 billion in assets.
The last few years have been a time of turmoil and transition for DPFP. The Texas Legislature passed, and the Governor signed House Bill 3158 on May 31, 2017, the amendments in HB 3158 set DPFP on a path to solvency with anticipated full funding by 2061. With the new legislation, DPFP has a new governing Board of Trustees made up of 11-members that were recently fully seated in October 2017.
The Chief Financial Officer (CFO) is responsible for the accounting, budgeting and financial reporting functions for DPFP. The CFO works under the general direction of the Executive Director. The CFO is a member of the Executive Team and is expected to be a strategic contributor and collaborator with the Executive Director and other members of the Executive Team and staff in carrying out the work and short and long-term goals of the organization.
A full job description can be found at https://www.dpfp.org/About-Us/Jobs/.
Questions about the position from potential candidates can be directed to Kelly at 214-638-3863. No executive search firms or recruiters please.
To apply for the positon please submit a cover letter, resume and salary history to email@example.com. The CFO is a key member of the executive team so the review of applicants will begin immediately and continue until the right candidate is identified.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Oversee accounting, financial reporting and budgeting activities.
• Supervise accounting and benefits quality control staff members and activities.
• Responsible for maintenance of accounting records, ledgers and cash controls.
• Ensure plan assets are properly safeguarded and in compliance with all applicable regulations and laws.
• Manage the annual financial statement audit, including preparing and providing oversight of the preparation of reconciliations, financial statements, other supporting schedules and footnotes to ensure timely delivery of completed financial reports and annual reports.
• Manage the year-end private asset valuation and audit process through coordination with the investment staff and external asset managers.
• Prepare financial statements and the Comprehensive Annual Financial Report, including Management’s Discussion and Analysis, in accordance with GAAP and GASB.
• Coordinate with investment staff and external actuary on preparation of the Investments and Actuarial sections of the Comprehensive Annual Financial Report.
• Implement new accounting pronouncements as necessary.
• Manage the preparation of the annual operating budget, analyze actual results against
budget, research variances, and provide forecasts and interim reporting. Ensure compliance with adopted budget policies. Prepare budget amendments when necessary.
• Ensure accurate and timely processing of benefit payments, other member disbursements, accounts payable and other disbursements.
• Approve custodial bank transactions and directives.
• Support the investment staff to ensure proper accounting and valuation of investment transactions.
• Coordinate with the external actuary regarding preparation of required actuarial valuations, GASB 67 and 68 and other actuarial reporting as needed.
• Monitor daily cash balances in operating and payroll accounts.
• Determine necessary funding requirements to meet monthly benefit payments and other disbursements.
• Ensure compliance with federal, state and local laws with the advice of appropriate legal counsel as required.
• Interact with representatives of the City of Dallas to ensure employer and employee contributions are accurate and properly recorded.
• Oversee the 1099-R and W-2 process and reconciliations.
• Review account reconciliations and manage monthly close of the general ledger.
• Coordinate with external investment accounting service provider on monthly reporting and transition of data from custodian to the service provider to the general ledger.
• Work with outside tax professionals as necessary on tax reporting, filing and compliance issues.
• Manage banking and custodial bank relationships.
• Coordinate with external property and leasing managers regarding activities related to building operations, maintenance and leasing.
• Assist with:
o policy and procedure development
o reviewing financial records to respond to open records requests
o Board meeting materials preparation
o Texas Pension Review Board reporting compliance
o litigation support related to financial matters
• Perform related work as assigned by the Executive Director
KNOWLEDGE, SKILLS and ABILITIES:
• Bachelor’s degree from an accredited four-year college or university with specialization in accounting, master’s degree preferred
• CPA required
• 10 years of experience preferably with a public pension fund or public accounting firm
• Minimum of 5 years of experience in a supervisory role required
• Working knowledge of actuarial funding concepts
• Working knowledge of FASB and/or GASB statements and pronouncements.
• General knowledge of investments and investment accounting concepts. Experience with valuation of private assets preferred.
• Strong verbal and written communication skills, with board presentation experience preferred.
• Ability to demonstrate integrity and high degree of ethics