False advertising: for UN Pension Fund CEO - Pension Fund Administrator, 10 April 2019

Vacancy announcement, United Nations Joint Staff Pension Fund:

"Chief Executive Officer (CEO) - Pension Fund Administrator, ASG" (see link below).

This vacancy announcement for head of the UN Joint Staff Pension Fund Secretariat, at the level of Assistant-Secretary-General, advertises the title as  “Chief Executive Officer (CEO) - Pension Fund Administrator”. That's a problem and there are a few others.

According to UN General Assembly resolution A/73/274 adopted on 23 December 2018, neither title will exist less than a year from now - January 2020.

The job title of "Pension Fund Administrator" and the description of the job functions imply that the functions of the post extend to both sides of the Fund (benefits and investments). That is not the case.

The announcement implies a five-year contract with those titles, and holds out the possibility of a possible further five-year contract under the same titles. That is not the case.

(Note that for all that, the announcement holds no worries for potential candidates' educational qualifications:  “A first-level university degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced university degree.”)

These are the facts:

Paragraph 13 of General Assembly resolution A/73/274 , requiring sweeping reforms to address issues in the  UN Joint Staff Pension Fund, including conflicts of interest caused by the dual role of CEO and Secretary of the Pension Board, whereby the former CEO controlled the agenda including his own performance evaluation,  states the following in paragraph 13:

“13.     Notes the current dual role of the Chief Executive Officer and Secretary of the Board; and decides to replace the existing post by two distinct and independent positions as “Pension Benefits Administrator” and “Secretary of the Board” no later than January 2020”.

The vacancy announcement advertises for a “Chief Executive Officer (CEO) - Pension Fund Administrator, ASG” -- not Pension Benefits Administrator --  and  states that  “The CEO is an appointed position under a five-year fixed term contract with the opportunity, upon Pension Board approval, for one additional five-year contract.”

Again, neither of the advertised titles for the position will exist after January 2020.

 Given the bifurcated structure of the Fund – the Fund Secretariat dealing with benefit payments (liabilities)  and the Office of Investment Management under the Representative of the Secretary-General, the language of the announcement is ambiguous:

“The CEO is responsible for administering the Pension Fund servicing the stakeholders – participants, retirees, Pension Board members, and participating employers; and the

observance, by all concerned, of the Pension Fund's Regulations, Rules and Pension

Adjustment System……..The CEO is also responsible for providing a range of administrative functions to ensure the smooth functioning of the

Investment Management Division.”

(Note: there is no  “Investment Management Division”;  that office is now called the "Office of Investment Management.")

At least there's recognition that the head of the Fund Secretariat needs a “Strong knowledge of pension funds and/or social security schemes.” That requirement was apparently not taken into consideration when the Selection Committee chose a former IAEA nuclear negotiator, Janice Dunn Lee, to take over as Acting CEO last January.  Quote from the Selection Committee:

“The Committee concluded hat while Ms. Dunn Lee has rather limited technical and financial knowledge of pension funds, she demonstrated managerial mastery to oversee the UNJSPF during this transitional period.”

However, despite her "managerial mastery",  “It would be important that Ms. Dunn Lee be supported by a strengthening of the senior technical management of the UNJSPF secretariat. The Committee unanimously agreed that this would require the timely identification of a experienced high level financial management specialist.”

And that “experienced high level financial management specialist”?  Former Acting CEO, Paul Dooley, who ten days after he retired on 31 December 2018 was back on contract by with the Fund by 10 January 2019 to assist Ms. Dunn Lee’s in her “managerial mastery.”

Last July, at its annual meeting in Rome, the Pension Board rejected at least half of the findings of the UN internal audit (OIOS, A/73/341), including the major findings. In December, the General Assembly endorsed the findings, came up with recommendations for sweeping reforms, and has asked the Board to report back on key issues such as adjusting the composition of the Board, to make the distribution of seats fairer and more equitable, and to come up with modalities for UN retirees to directly elect their representatives to the Board.

The Board has been dragging its feet and making decisions by circumventing Fund regulations. This vacancy announcement is yet another example of pushback by the Board of the requirements of the Fund's ultimate oversight body, the General Assembly. If recent history is any indication, and for the sake of our Fund, time may be on the Board's side, but not for long.


Link to vacancy announcement :

https://careers.un.org/lbw/jobdetail.aspx?id=108697