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Vacancy: Administrator- Chief Executive Officer

(Monday, June 14, 2021)



ADMINISTRATOR Chief Executive Officer
Definition

The Administrator is the chief executive officer at the Government Employees' Retirement System of the Virgin Islands (GERS). The incumbent executes their duties and responsibilities as outlined in Title 3, section 715 (c) and (d) of the Virgin Islands Code with advice and consent from the Virgin Islands Legislature. The position receives direction from the GERS Board of Trustees. The Administrator provides leadership to enhance the internal organizations' processes and is primarily responsible for managing the GERS' daily operations, implementing, and monitoring Board policy, and coordinating the activities of the investing, consulting, and contracting firms on behalf of the System. The Administrator cooperates with and acts as the liaison between the Board, the staff, employers, government departments and agencies, and the plan sponsors. This individual also serves as the Chief Advisor/ Manager of the Havensight Mall and the systems' alternative investments.


Duties and Responsibilities (Not all exhaustive) Board

Recommends, implements, and monitors policies and policy revisions initiated by the Board.

Identify policy problems, programs, rules, regulations, and other appropriate matters to be presented to the Board.

Presents to the Board periodic progress reports of System's activities and such other summaries as the Board may from time to time require, to include the Administrator monthly report.

Prepares and submits the annual and supplemental Budgets based on performance-based budgeting.

Participate in strategic planning with the Board.

Drafts, analyzes and, recommends legislation affecting the retirement system for review and approval by the Board.

Keep Board members apprised of legal and financial developments in the public pension industry.

Serves as the Secretary on the Board's meetings, recording all votes, signing the meetings' minutes, reading communications and correspondences directed to the Board or the Administrator at Board meetings.

Performs all the duties incident to the Secretary's office, including the attesting of all documents executed under the System's seal, custodian of the records, and such other duties as from time to time may be assigned by the Chairperson or the Board.

Ensures the accuracy of the transcribed minutes of the Board meetings and ensures the timely transcription and delivery of the transcripts of the meetings to the board members and other persons authorized to receive the transcripts.

Provides orientation to new GERS Board members.

Serves as a member of all Board-appointed committees.


System - CEO

Serves as the Chief Executive Officer of GERS overseeing all aspects of the administration of retirement and disability benefits, investment management, performance and reporting, and legal compliance for the System.

Hires and directs key senior staff; encourages the professional development of the GERS' staff; takes a proactive stance regarding advances in technology, improved hiring, training and management techniques and advancements in investment management/portfolio monitoring to increase productivity, reduce costs, expand services provided and otherwise improve all services to members.

Interprets applicable laws related to the GERS and executes the System's development per the policies set by the Board and in accordance with VI Code.
Compiles the statistical data necessary for periodic actuarial valuations and surveys of the System's operations with the advice of a technical advisor.

Confers with actuaries and other specialty consultants and directs the gathering of data required for composing a variety of actuarial, financial, statistical, and narrative reports for the Board.

Monitors status of all retirement investment portfolios and provide liaison with investment managers, consultants, and custodians.

Supervise the monitoring of asset allocation, cash flow, and due diligence review. Complete due diligence visits with Board members as required.

Conducts the financing activities of the System to include directing preparation of the annual GERS budget and reviews the budget for presentation to the Board and the timely preparation of the annual audit.

Coordinates the planning of the System's future development and directing all other plans and programs for the System consistent with Board policy and the economic growth and development of the Territory.

Execute construction contracts and contracts to purchase equipment, materials, supplies, and services.

Work with the Legal Department to settle claims by or against the System.

Negotiate for the lease, exchange, or otherwise dispose of, under competitive bidding or by such other means as the circumstances may warrant, personal property of the System determined to be surplus to its needs.

Participate in setting investment policies, manage alternative investments, and participate in selecting investment managers, consultants, and custodians and negotiating contracts for their services.

Oversee the publication of GERS informational material on retirement laws, GERS policies and procedures, and the GERS benefits program.

Participate in industry-sponsored educational programs and organizations. Represent the Board at meetings and conferences, as directed.

Attend and give testimony or updates at public and legislative hearings and various forums.

Promoting the most effective public relations for the System.

Represent GERS in its dealings with the public, media, departments, and other agencies.


Knowledge, Skills, and Abilities Required

Knowledge of the laws, rules, regulations, and policies governing the Government Employees' Retirement System of the Virgin Islands or similar defined benefit pension system.

Experience in/knowledge of operations management, especially in benefits administration or financial transactions.

Ability to be dedicated to fulfilling GERS' primary fiduciary responsibility to its members.

Ability to provide leadership to inspire, motivate, and empower staff to achieve established goals, ensure accountability, and deliver measurable outcomes; and

Knowledge of actuarial concepts and institutional investment principles.

Experience dealing with legislative processes.

Strong quantitative analytical abilities, including a thorough understanding of standard data analysis tools and programs.

Skilled leader with the vision, discipline, tenacity, creativity, and skills to set and achieve strategic goals and leave a legacy.

Knowledge of organizational development, personnel management, budget preparation, and resource development, and strategic planning.

Ability to develop and monitor systems to manage both operational and programmatic work involving high-level collaboration.

The ability to effectively delegate authority and responsibility while maintaining appropriate levels of accountability, operational control, and personal involvement.

The ability to solve problems and provide a range of alternatives to the Board as they consider issues affecting the plan and its investments.

A willingness to appropriately confront issues and make tough recommendations and decisions.

Ability to multi-task, work in a fast-moving environment, setting priorities with a focus on achieving results.

Ability to effectively communicate in writing and verbally with different audiences, including preparing and delivering complex reports, presentations, policies, and proposals.

A commitment to teamwork and working with appropriate resources to provide the highest possible level of customer service to active and retired members and their beneficiaries.

High personal energy, enthusiastic, proactive, positive approach, and self-confidence.

Team player who fosters collaboration at all levels of the organization and team builder makes it a priority to empower, coach, mentor, and recognize staff members to increase their individual and shared capacity to achieve success.

Change agent who use data and performance metrics to drive continuous improvements and achieve the results that matter most.

Strong political acumen and the ability to work effectively and objectively with elected officials while maintaining independence; a "thick skin" to deal with possible personal attacks by politicians and the press; with the ability to navigate in a political environment without being political.

Collaborative management style: ability to provide leadership and mentoring to staff and make decisions as needed while allowing individual responsibility and initiative.

Executive "presence," strength of character, and business expertise.

Ability to think strategically and understand the necessity of taking the long view and the high road to realizing environmentally, economically, and socially sustainable outcomes.

Ability to personally demonstrate integrity, intellectual honesty, work ethic, and genuine concern for the System's staff and members, which inspires public confidence and motivates employees to do their best.

Public servant who is passionate about building a greater GERS with citizens and groups across the Territory.

Outstanding interpersonal skills, including compassion, an ability to engage with a wide range of stakeholders and customers, and knowledge of industry practices.

Ability in having the courage and fortitude to "speak truth to power" when appropriate.

Experience reporting to/working with a board of directors or trustees.

Advanced knowledge of Microsoft Office Suite.


Education and Experience

Graduation from a recognized and accredited four-year college or university with a master’s degree in Business Administration, Public Administration, Management, Economics, Public Policy, Accounting, Finance, or other related fields and a desired minimum of ten (10) years of professional experience in an executive-level position with experience leading and managing within a defined benefit or other pension system or management of public funds, investment, or financial management. 

Certified Public Accountant, Certified Financial Analyst, or similar certifications are preferred but not required. In evaluating potential candidates for this position, the Board will consider professional achievement, the ability to build productive working relationships, and a track record of successfully leading and managing like organizations. The Board reserves the right to make substitutions of required education and experience elements based on the applicant's career totality.

Certified Public Accountant, Certified Financial Analyst, or similar certifications are preferred but not required. In evaluating potential candidates for this position, the Board will consider professional achievement, the ability to build productive working relationships, and a track record of successfully leading and managing like organizations. The Board reserves the right to make substitutions of required education and experience elements based on the applicant's career totality.

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