Pensions Finance Manager

Job Title: Pensions Finance Manager

Band : 3

Salary: Circa £65,000 

Location: Palestra/Hybrid

Hybrid working within this role enables a balance of 50 per cent of time split between the office and home over a 4-week period. Hybrid working arrangements can evolve subject to business requirements. 

Job Purpose 

This role is responsible for managing, controlling and developing the TfL Pension Fund's financial accounting system, investment accounting, records and processes to ensure achievements of the following in accordance with TfL Pension Fund procedures and deadlines:

• investment transactions are correctly processed and recorded by the Fund's Global Custodian and correctly reflected in the Fund's nominal ledger
• payments and receipts are correctly processed and recorded
• cash and bank accounts are effectively controlled and reconciled
• nominal ledger accounts are reconciled.

Key Accountabilities

• Accountable to the Pensions Finance Lead

• Providing full financial accounting support ensuring appropriate accounting policies are in place
• Support the preparation of the Fund's Annual Reports and Accounts and annual budget
• Support the preparation of the Fund's cash flow and quarterly financial and investment reports for review by the Trustee Board
• Carrying out periodic financial reporting and analytics
• Preparing supporting schedules to the Fund's year end accounts
• Monitoring investment transactions against compliance with the agreed criteria as set out in the Investment Managers' and the Global Custodian mandates
• Ensuring all investment transactions are correctly processed and recorded by the Global Custodian and Investment Managers
• Managing processes to ensure that all payments are made in accordance with TfL Pension Fund procedures
• Maintaining and operate financial systems and procedures for the Fund's sectionalised structure to facilitate the unitisation of the Fund's assets and the calculation of quarterly unit prices
• Preparing the Fund's tax, VAT, Office of National Statistics and other statutory returns
• Manage the performance of a team
• Manage the Fund's cash flow to ensure all payments; benefit payments, invoices and investment payments are made in a timely manner
• Treasury function of the Fund and work closely with the in-house investment team, investment managers and the Global Custodian on investment transactions.

Skills, Knowledge and Experience

Skills

• Recognised accounting (CCAB or equivalent) qualification or substantial progress towards one
• Analysing and interpreting data (EXPERIENCE)
• Excel (EXPERT)

Knowledge

• Investment accounting
• Financial accounting systems
• Accounting standards, SORP reporting requirements
• The legal and tax law regarding pensions and finance

Experience

• Experience in Pension accounting and Investment accounting
• Substantial experience of reviewing and reconciling Global Custodian investment accounts to Investment Managers' reports
• Substantial experience of reviewing and reconciling account balances on computerised systems
• Experience of taking accounting, systems or process issues to resolution.

Equality, diversity and inclusion

We are committed to equality, diversity and inclusion. We want to represent the city we serve, which will help us become a more innovative and efficient organisation. Our goal is to make our recruitment as inclusive as possible. We are a disability confident employer who guarantee an interview to any disabled candidate who meets all of the essential criteria. We also use anonymising software that removes identifying information from CVs and cover letters to make the process fair.

Application Process

Please apply using your CV and a two-page covering letter.

Think carefully about the skills, knowledge and experience in the advert and cover this in your CV and cover letter. PDF format preferred and do not include any photographs or images

The closing date for applications is Sunday 22nd March 2026 @ 23:59

Vetting Process

https://tfl.gov.uk/corporate/careers/our-vetting-process 

At Transport for London, safety, trust and fairness sit at the heart of how we recruit. Our Vetting Charter (link here) explains the checks we carry out before you join us, helping ensure we create a safe, inclusive and reliable network for everyone who depends on our services. We simply ask that the information you provide is honest and accurate so we can progress your application smoothly. If something doesn’t match or can’t be verified, we may not be able to move forward with your application but we’ll always treat you with transparency, respect and clear communication throughout.

Benefits

In return for your commitment and expertise, you will enjoy excellent benefits and scope to grow.  Rewards vary according to the business area but mostly include:

•            Final salary pension scheme

•            Free travel for you on the TfL network

•            Reimbursement of 75% of the cost of a standard class Ticket for National Rail travel from home or 75% reimbursement on a 28-day flexi ticket

•            30 days annual leave plus public and bank holidays

•            TfL is committed to work-life balance, operating a hybrid working approach where business and role requirements allow.

•            Private healthcare discounted scheme (optional)

•            Tax-efficient cycle-to-work programme

•            Retail, health, leisure and travel offers

•            Discounted Eurostar travel