Makerere University Retirement Benefits Scheme (MURBS) is a scheme for Makerere University staff. MURBS was established under irrevocable trust with effect from 1st April 2009 and is licensed by the Uganda Retirement Benefits Regulatory Authority. The Scheme was set up by Makerere University for the purpose of providing retirement
benefits to employees of Makerere University upon retirement from the University. MURBS is governed by a Board of Trustees, which is the Scheme’s supreme governing body. The relationship between the University and the Board of Trustees is enshrined under the Trust
Deed and Scheme Rules (as amended 17 April 2015). MURBS is committed to hiring and retaining qualified and competent staff that have actual and future potential to effectively and efficiently perform their duties and responsibilities in accordance with MURBS’s vision,
mission and strategic objectives.
Job Title: Assistant Principal Pension Officer (Finance and Investment)
MURBS Job Grade: MURBS-2
Number of Posts: 1
Vacancy Notice: 31052021
Reports to: Principal Pension Officer
Duty Station: Scheme Office at Makerere University, Kampala
To provide financial and investment administration support to the Principal Pension Officer in all financial matters of the Scheme and administration of the Scheme’s investments.
Main Duties and Responsibilities
1. Finance, Investment Administration and Planning Support
a) Support the PPO in the planning process for finance and Investment Administration in compliance with the law and the relevant Scheme policies and procedures.
b) Keep track of the Scheme’s finance and investment administration processes and documentation
c) Prepare quarterly and annual financial statements after reviewing and closely liaise with the PPO in all financial matters for accuracy and consistency.
d) Prepare and monitor budgets, cash flows and liquidity requirements.
e) Prepare financial projections to aid in distributing funds to the Fund Managers and operational accounts of the Scheme.
2. Financial Management
a) Ensure that approved and acceptable expenses are incurred by the Scheme & within the approved budget
b) Check and verify members’ contributions received to the accounts and benefits payments made by the Scheme.
c) Ensure appropriate disbursement of all funds advanced for Scheme activities.
d) Arrange for special procurements and participate in designing of the Terms of Reference or RFPs.
e) Analyze and carryout approval of all transactions posted to the general ledger.
f) Ensure that all cash and bank-related transactions are posted accurately, timely and in the correct period.
g) Review reports on custody, fund management, and benefits payment and flag any irregularities for action on time.
a) Ensure that all the Scheme’s finances are accounted for.
b) Take accountability of all accounts and maintain all processes in adherence to the Scheme’s principles and policies.
c) Coordinate banking services provided to the Scheme.
d) Maintain monthly reconciliation of the Scheme’s accounts.
e) Account for all cash advances.
f) Review Scheme operational expenses and maintain an accurate journal of all the expenses, as well as analyze budget reviews presented by the Administrator and confirm
their consistency with the Scheme expenditure and the predetermined ratios.
g) Establish, verify and maintain appropriate records in relation to custody operations.
4. Payroll Management:
a) Make sure that all employees are paid accurately and timely.
b) Review the payrolls to ensure accuracy of both statutory and non-statutory deductions in accordance with the relevant laws, policies and agreements.
5. Coordination of Financial Activities/Services
a) Coordinate and liaison with the sponsor, the Fund Manager, the Custodian, the Uganda Retirement Benefits Regulatory Authority, the Uganda Revenue Authority and all other
professionals and service providers engaged by the Scheme.
b) Manage the financial activities of the MURBS Secretariat Staff.
c) Follow-up with the Custodian and Fund Managers engaged by the Scheme to ensure that they work in accordance with their respective contractual agreements and relevant policies and laws in place from time to time.
d) Liaise with the Fund Managers and track Board resolutions pertaining to the Scheme funds.
6. Investment and Asset Management:
a) Ensure that the Scheme’s assets are properly managed and safeguarded.
b) Carry out appropriate accounting for fixed assets and capital expenditures.
c) Direct and enforce the tagging of the Scheme’s fixed assets.
d) Arrange for the disposal of the Scheme’s boarded off assets.
e) Monitor investments undertaken by the Fund Managers, monitor purchase and sell off bonds and establish compliance with the Investment Policy Statement.
f) Develop and implement systems to manage, document and report on the Scheme’s inventory assets such as property.
7. Stakeholder Engagement
a) Maintain a healthy relationship with the stakeholders.
b) Track Member queries to their resolution and assists in preparing written responses to special inquiries.
c) Study prevailing markets and advise Trustees on the appropriateness and applicability of the Investment Policy Statement or changes that may be needed.
d) Review benefits statements of members and makes appropriate recommendations.
e) Track benefits’ payment details of members, notify members of their payments/beneficiaries and maintain updated electronic and hard copy records.
f) Obtain/verify relevant records from the University Pension Office to support benefits to members/beneficiaries.
8. Support Member Registration and Benefits Administration
a) Ensure the maintenance of appropriate membership records.
b) Record all contributions made by Makerere University.
c) Process all approved payment applications for retirement benefits and any other claims as advised by the PPO.
9. Financial Reports
a) Prepare and analyze financial reports concerning the financial performance and position of the Scheme.
b) Collect, reconcile and provide reports on all financial data for the Scheme to the PPO.
c) Prepare tax reports and maintain accounts.
10. Compliance and Risk Management Support
a) Manage the Scheme’s activities and programmes in compliance with the Trust Deed, Scheme Rules, and statutory and regulatory requirements.
b) Monitor and track risk issues on a regular basis and ensure continuous improvement in operating procedures to avoid risk.
c) Prepare statutory reports/information to the Uganda Retirement Benefits Regulatory Authority and Uganda Revenue Authority as required.
d) Maintain a database of licenses held by the Scheme and ensure that financial information records are maintained properly
e) Work with the Administrator to facilitate audits and compliance to standards.
f) Make correct tax deductions, and supervise filing of URA returns and remittance to the relevant authorities as required by law.
11. Other Duties and Responsibilities
Take minutes at Trustee meetings as delegated from time to time.
Key Performance Indicators:
a) Timely and Accurate Reporting.
b) Maintenance and Provision of Accurate and Acceptable Financial Information/ Records
c) Relationship management with key stakeholders.
d) Legal compliance
e) Compliance to internal controls
1. Minimum Qualification:
Bachelors’ Degree in Investment Analysis/Management, Commerce, Finance, Insurance, Pension Management & Administration, Statistics, Mathematics or any related field.
At least three years’ experience in finance or Investment Management with at least two years of Investment Management.
3. Knowledge and Skills:
Fund management; Accounting methods and procedures; Public Relations; Pension sector administration/management; Analytical skills; Communication skills; Interpersonal skills; and, Planning and organization skills.
How to Apply
Submit your application letter, signed curriculum vitae (with names and addresses of at least two referees), and copies of relevant academic/professional certificates via email to;
email@example.com copy to; firstname.lastname@example.org.
The Application should be addressed as below;
Attention: Principal Pension Officer
Makerere University Retirement Benefits Scheme
P.O. Box 7827, Kampala
Lincoln Flats B4, Makerere University
Deadline: 04:00 p.m. on 14th June, 2021
Only shortlisted candidates shall be contacted.