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Executive Director

YWCA Retirement Fund

in NY

Confidential Position Specification

Position: Executive Director
Organization: YWCA Retirement Fund
Location: New York, New York
Reporting Relationship: Board of Trustees
Website: https://www.ywcarf.org/

Organization Background

Purpose of the Fund
The sole purpose of the YWCA Retirement Fund is to ensure income in retirement for the employees of participating YWCA associations.

History of the Fund
The YWCA Retirement Fund is one of the oldest pension plans in the country. It is the first pension fund for women and predates Social Security.

The Fund was established as a complete, separate and independent entity incorporated in the State of New York in 1924.

The Fund began operation in September 1925 with initial funding provided by a $1.8 million donation from the Rockefeller family.

Design of the Fund
The YWCA Retirement Fund (the "Fund") operates as a non-profit tax-exempt organization for the purpose of providing retirement benefits for employees of YWCAs in the United States.

The Fund sponsors The Young Women's Christian Association Retirement Fund, Incorporated Plan Document (the "Plan"), which is cash balance defined benefit pension plan qualified under Section 401(a) of the Internal Revenue Code and is subject to the regulations under the Employee Retirement Income Security Act (“ERISA”). The Plan assets are held in trust with JP Morgan Chase Bank, N.A., as custodial trustee, and the Plan benefits are paid from this trust.

KEY RESPONSIBILITIES

The Executive Director is the key management leader of the Fund.  The Executive Director is responsible for overseeing the administration and management of the organization. Critical duties include managing the Fund’s day-to-day operations, including determining operating policy and controlling operational costs through fiscal responsibility while ensuring compliance with ERISA and the Internal Revenue Code. The Executive Director must be forward thinking and strategic.  The position reports directly to the Board of Trustees.

The essential duties and responsibilities are:

  • Organization Mission and Strategy – Responsible for leading the Fund in a manner that:
    • Supports the organization’s mission of providing retirement benefits to participants that are in the best interest of those participants as required by ERISA.
    • Ensures the mission of the Fund is fulfilled through operational planning and outreach to participants and YWCAs.
    • Monitors plan operations and finances to ensure the Fund successfully fulfills its mission
    • Monitors compliance, financial, operational and other risks.
    • Monitors legal and regulatory pension-related developments and spearheads responses to changing regulatory requirements and other challenges to plan design in consultation with the Fund’s actuaries, legal counsel, auditors and outsourced chief investment officer.
  • Organization Operations – Responsible for the operations of the Fund, which includes:
    • Compliance with policies, procedures, governance and all applicable laws and regulations.
    • Effective administration of the Fund operations including its administration systems.
    • Hiring and retention of competent, qualified staff; inspiring staff through excellent communications, encouragement of innovation and management through change and uncertainty.
    • Fostering constructive partnerships with the YWCA associationsto strengthen and ensuretheir compliance with ERISA eligibility and enrollment rules and the accuracy of employer contributions.
    • Utilizing partnerships with the YWCA associations to build consensus and marshal grass roots support for pension advocacy when needed.
    • Acting as the public voice of the Fund with the YWCA USA, the YWCA associations, members of Congress and other government officials.
    • Managing the office environment, including technology infrastructure, maintenance, furnishing, refurbishing and lease negotiation.
    • Reviewing, approving (or recommending approval to the Board) and monitoring performance of contracts for services.
    • Establishing employment and administrative policies and procedures for all functions and for the day-to-day operation of the Fund.
    • Overseeing communication to the participants and YWCA associations, including via the website.
  • Board Relations – Responsible for communicating effectively with the Board and providing, in a timely and accurate manner, all information necessary for the Board to function properly and to make informed decisions, which includes:
    • Coordinating and organizing Board and committee meetings.
    • Assisting the Board through change.
    • Working with the Board to increase the overall visibility of the Fund to the YWCAs.
    • Developing and implementing a strategic plan in concert with the Board.
    • Performing other duties as assigned by the Board.
  • Financial Performance and Viability – Responsible for the fiscal management and integrity of the Fund, through the submission to the Board of a proposed annual budget and regularly reported financial statements, which accurately reflect the financial condition of the organization and operating within the approved budget to ensure maximum resource utilization.

PROFESSIONAL EXPERIENCE / QUALIFICATIONS

The ideal candidate is a strategic leader and a diplomatic individual who is driven by the mission of Fund and knowledgeable about cash balance defined benefit pension plans.  The ideal candidate has several years of administration, benefits and related experience.  Experience with administering a multiple employer cash balance defined benefit pension plan is highly desired.

Additionally, the ideal candidate has:

  • Solid direct operations and budget management experience
  • Strong analytical and financial acumen
  • Experience working with and collaborating with a board of trustees
  • Experience overseeing development and maintenance of pension administration systems
  • Transparent and high integrity leadership
  • Strong organizational abilities including planning, delegating and task facilitation
  • Ability to convey a vision of the Fund’s strategic future to staff, the Board and Fund participants
  • Five or more years management experience in a hands-on environment; experience running a small business organization with fewer than 50 employees also is advantageous

EDUCATION

  • A Bachelor’s degree is required.

How to Apply

Interested candidates should send their resume and cover letter to:  YWCARF@kornferry.com


This ad has been viewed 1272 times. It expires on 4/27/2019.

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