The Oklahoma Police Pension and Retirement System (“Pension System”) was created to hold and manage the Oklahoma Police Pension and Retirement Fund and to provide retirement and pension benefits for all participating police officers and their beneficiaries in the State of Oklahoma. Currently, there are approximately 9,400 active, inactive, and retired members and beneficiaries in the Pension System, with assets in excess of $2.5 billion. The legal and fiduciary responsibility for the policies and rules governing the general administration, management and operation of the Pension System is vested in the Board of Trustees (“Board”).
The Board is comprised of thirteen (13) members, which includes the following: six (6) elected members who are active members of the Pension System and work for a participating municipality physically located in their representative district; one (1) elected member who is a retired member of the Pension System that represents the entire state; one (1) member appointed by the Speaker of the House of Representatives; one (1) member appointed by the President Pro Tempore of the Senate; one (1) member appointed by the Governor; one (1) member appointed by the President of the Oklahoma Municipal League; one (1) member that is the State Insurance Commissioner or designee; and one (1) member that is the Director of the Office of Management and Enterprise Services or designee. The Board shall appoint an Executive Director, who shall be the managing and administrative officer of the Pension System and, as such, shall have charge of the office, records, supervision and direction of the employees of the Pension System.
The Board has delegated to the Executive Director responsibility for the administration and management of the Pension System consistent with Board delegation of authority. Policy and direction set by the Board is implemented through the Executive Director so that a strong relationship exists between the Board and the Executive Director, and a clear delineation of authority which is critical to the accomplishment of the Board’s objectives. This broad delegation of responsibility includes: (1) investment oversight; (2) hiring, supervising, monitoring, evaluating and, when necessary, taking disciplinary action or terminating the employment of staff; (3) services to beneficiaries; (4) budgeting; (5) governmental affairs/media relations; (6) employee training and development; (7) succession planning; (8) actuarial valuations; (9) legal representation; (10) assisting the Board on legislation impacting the Pension System; and (11) establishing goals and objectives to meet the aforementioned responsibilities.
Executive Director’s Essential Duties:
1. With advice and counsel from the Board, achieve the long-term policies and strategic objectives established for the Pension System by the Board, including as necessary:
a. Determining the appropriate methods for attaining the Board established policies and strategic objectives.
b. Directing the Pension System employees in the furtherance of those objectives.
c. Ensuring that management activities and decisions are within Board approved policies.
2. Monitor the working relationship between the staff of the Pension System, investment managers, consultants and other vendors of the Pension System and the Committee Chairs, to ensure the efficient operation of the Board’s committees.
3. Represent the Pension System, or designate other staff representatives, to outside parties and organizations.
4. Provide leadership to the Pension System employees in terms of collegiality and ethical conduct.
5. Act as the liaison for communication and information flow between the Board, Pension System employees and the members and beneficiaries.
6. Report to the Board on the status of pending legislation impacting the Pension System.
7. Inform the Chairman of the Board of inquiries and requests concerning Pension System business that may be sensitive in nature.
8. Apprise the Board of any Pension System personnel changes.
9. Coordinate the preparation and administration of annual financial reports, actuarial reports and member benefit statements for the Pension System.
10. Ensure the Pension System derives maximum benefit from its professional consultants including investment managers, actuarial services, auditing services, legal services, custodial services and other professional services.
11. Supervise the distribution of all benefit payments.
Executive Director Should Have Knowledge of:
1. Public and/or private employee pension systems and retiree health benefit programs.
2. The administration of defined benefit retirement plans- public and/or private, and the laws and regulations relating to such plans and benefits.
3. Contemporary principles and best practices of human resource management and supervision.
4. Outstanding customer service principles and practices.
5. Budget development and public sector financial practices.
6. Techniques and practices for effective, efficient and cost effective management of allocated resources.
7. Pertinent city, county, state and federal laws, rules, regulations and ordinances.
8. Contemporary principles and best practices of accounting, budget preparation, organizational management and analysis of data, including statistical concepts, methods and data collection procedures.
9. Principles and fundamentals of financial markets including portfolio analyses and financial plan reviews, investment management, actuarial evaluations, pension audits, and applicable insurance laws and regulations.
10. Computer and software applications used in business settings and pension administration operations.
Training and Experience:
1. Graduation from an accredited four (4) year college or university with a Bachelor’s degree in Business Administration, Public Administration, Accounting, Finance, Economics or related field. Major course work in business administration, public administration, accounting, finance or economics is desired. A Master’s degree in a related field is preferred.
2. At least five (5) years progressive leadership experience in a defined benefit retirement system of similar or larger size and complexity is desired. Experience with a public safety retirement system is preferred.
3. Specialized knowledge of and/or training in defined benefit plan administration, human resource management, investment management oversight, actuarial studies and pension law are preferred.
How to Apply:
If you are interested in this career opportunity, please email your cover letter and resume to: OPPRS@finley-cook.com by June 1, 2018. Finley & Cook, PLLC is an independent CPA firm contracted with the Pension System/Board to accumulate the cover letters and resumes submitted for this position and will be providing the documents to the Board Selection Committee for consideration.
Please note that submissions received after June 1, 2018 will not be considered for this position. Furthermore, individuals selected to participate in the interview process for this position must consent to the completion of a thorough background check, including a credit review.