NOVA Chemicals is experiencing significant growth and we are looking for talented and passionate people to work in our collaborative and innovative organization. As a Responsible Care® company, we are committed to safety and sustainability, we are a respected community partner and we take pride in being a leading producer of plastics and chemicals that make everyday life safer, healthier and easier.
We are currently seeking a Senior Pension Investment Specialist who will play a key role in helping to manage the financial and investment aspects of NOVA Chemicals’ defined benefit and defined contribution pension plans and savings plans in Canada and the U.S. Responsibilities range from operational to strategic. The position requires strong analytical capabilities and an understanding of actuarial concepts, investments and capital markets. This position will report to the Leader, Pension Investment, and will be located at our Calgary head office.
Specific responsibilities include such activities as:
- Design and delivery of reports to the Pension and Savings Plans Committee and the Audit and Remuneration Committees on financial and investment aspects of the plans, including funded status
- Support the Leader in the development of appropriate investment strategies and assist in the implementation of these strategies
- Assist the Leader in the development and implementation of a long term plan for managing the DB pension financial obligations
- Monitor investment managers / options and assist in searches for new investment managers / options
- Stay abreast of latest trends in investment strategies / vehicles appropriate for institutional pension plans
- Oversee and direct all required regulatory filings for the plans
- Stay abreast of any regulatory developments that may impact the plans
- Manage cash flows and periodically rebalance assets for the DB pension plans
- Work with actuaries in the development and presentation of the valuation of the pension plans and ensure financial information and assumptions are appropriate
- Assist Financial Reporting in the preparation and review of the plans / corporate financial statements, and in quarterly and year-end corporate disclosure related to the plans
- Develop forecasts of the financial position of DB pension plans and project contribution requirements for budgeting and cash flow planning purposes
- Assist the Leader with identification / quantification of pension-related risks as part of the Company’s Enterprise Risk Management program and fiduciary insurance application
- Support the Leader in educating Committee members, Owners and Board members on all financial / investment aspects of the plans
- Work with HR, Communications and Legal in preparing communications to members on investment / financial related issues for the plans and in developing investment / financial education programs, including retirement planning tools and education sessions
- Oversee periodic benchmarking analysis of service providers
- Provide support to Leader on various pension-related projects
The successful candidate will be a University graduate or equivalent in Economics or Business or undergraduate degree in Economics, Business, Mathematics or Statistics with applicable professional designation or equivalent AND 10+ years related experience OR 14+ years’ combination of post-secondary education and related experience.
- Completed or progress towards completion of professional designation (ex: CFA, FCIA)
- Experience in managing DB and DC pension plan assets
- Strong understanding of financial markets, economics, statistics and actuarial concepts
- Strong analytical and decision-making / problem solving skills
- Strong communication (written and oral) skills
- Excellent interpersonal, coaching and mentoring skills
- Demonstrated knowledge of investment strategies / vehicles for DB and DC pension plans
- Working knowledge of legislation and standards in Canada and the U.S. that relate to the financial and investment aspects of pension plans
- Broad understanding of the major financial and investment issues / risks in managing pension plan assets and their impact on the business
- Ability to summarize and clarify complex technical or business issues
- Ability to work collaboratively with internal and external business partners
- Ability to balance multiple tasks and demands effectively
- Results and solution oriented
- Strong Microsoft Office Suite skills are essential (MS PowerPoint, Word, and especially Excel)
Note: Relocation will not be provided for this position.
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.
The NOVA Chemicals Head Office (NHO) is located in Calgary, Alberta. NHO’s primary focus is on feedstock acquisition, infrastructure development, optimizing competitive advantage, marketing and customer relations, and strategic growth prospects.
Situated in downtown Calgary, NHO is close to the Rocky Mountains, home to Banff National Park.
NOVA Chemicals’ flexible benefit programs are designed to meet the diverse needs of our employees, because when it comes to benefits, everyone has different priorities. Our benefits offerings will vary based on your work location, and are an element of the “Total Rewards” package used to reward employees.