Fraser Keating Associates, LLC

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1 POSITION SPECIFICATION POSITION ORGANIZATION LOCATION WEBSITE Senior Vice President/President Elect The Pension Fund of the Christian Church (Disciples of Christ), Inc. Indianapolis, Indiana POSITION SUMMARY The Board of Directors of the Pension Fund of the Christian Church (Disciples of Christ), Inc. ( Pension Fund ) has decided to recruit a Senior Vice President/President Elect ( President Elect ) of the Pension Fund who will assume the President s role over a transition period before his retirement. During this period, the President Elect will work closely with the President to enhance day-today operations and to ensure a smooth transition. At the conclusion of the transition period, this executive will be responsible for overseeing the design and administration of the pension and benefits programs of the Christian Church (Disciples of Christ) and related Stone-Campbell heritage institutions, for managing the Pension Fund s assets and for providing financial assistance to members. The President will provide leadership to the Board of Directors on policies and strategies to fulfill the Pension Fund s mission. Additionally, the President will represent the Pension Fund at church meetings, including the General Assembly, Council of General Ministries, and General Board of the Church (as an ex-officio member) as well as external meetings of the Church Alliance and Church Benefits Association. The President will inherit a diverse organization with a 120-year heritage, a dedicated board and management team, and a solid financial position. With the support of a committed Board, the President will lead the evolution of the organization, capitalizing on opportunities to grow its assets in an increasingly competitive pension, benefits and health care landscape. At the same time, the President will maintain a focus on the Pension Fund s mission to provide retirement benefits to enable those who serve to live comfortably in retirement. The President will also oversee the Pension Fund s administration of the health and wellness programs on behalf of the Church. COMPANY INFORMATION Headquartered in Indianapolis, the Pension Fund is an affiliated ministry of the Christian Church (Disciples of Christ) providing retirement and health programs for ministers and lay employees of Disciples of Christ and Stone-Campbell heritage congregations, ministries, colleges, seminaries and related organizations. The Pension Fund assists its members in achieving and maintaining health and financial security, and operates under the tag line of Strong. Smart. Secure. The Pension Fund s programs include retirement plans (defined benefit pension plan, tax-deferred retirement accounts, after-tax accumulation accounts, IRAs, Roth IRAs); medical, dental and vision benefit plans; and accident insurance. Additionally, the Pension Fund provides support to those in need through its Ministerial Relief and Assistance programs. The Pension Fund has approximately 40 employees, and 12,000 participants across the United States, Canada, Puerto Rico and related international ministries. 1

2 The Pension Fund is guided by its core values of trust, security and compassion in support of the Church and its ministry worldwide. As such, the Pension Fund manages the pension assets judiciously, and administers its programs with a focus on superior member services. Total assets of the Pension Fund are approximately $3 billion. The assets are invested through external investment managers under supervision of the Pension Fund s investment team. Using asset allocation guidelines established by the Board, these assets are in a broad range of asset classes, including international and domestic fixed income and equities, developed and emerging markets, real estate, private equity, commodities and natural resources. Approximately, 75% of the assets represent a defined benefit plan, $250 million a defined contribution plan (with a base rate floor) and $200 million an after-tax savings plan. Other assets represent the Ministerial Relief and Assistance program, general account reserves and the endowment. The Pension Fund is a nonprofit corporation operating under the laws of Indiana. Currently, the Pension Fund serves more than 12,000 church workers across 3,500 church organizations. The Pension Fund also serves as a trustee of the Christian Church (Disciples of Christ) Health Care Benefit Trust, and as such, administers Church wide Health Care, Dental and Flexible Spending Account programs on behalf of the Church. This includes supplemental Medicare coverage, comprehensive prescription drug program and vision coverage. The Pension Fund also provides accident insurance benefits. Outside the benefit plans, the Pension Fund provides a Ministerial Relief and Assistance program, funded by the endowment, direct gifts and Disciples Mission Fund. Ministerial Relief Assistance provides pension and health care supplements, as well as emergency and disability support to beneficiaries in need. The Pension Fund is governed by an independent, self-perpetuating Board of Directors of 15 members who are elected by the board to three-year terms, serving a maximum of nine years. Prior to election, the General Board of the Church affirms the Director slate presented by the Pension Fund board. All Directors serve without compensation. The President is not a member of the board but attends meetings of the Board of Directors and its committees. REPORTING RELATIONSHIPS RESPONSIBILITIES Initially, the President Elect will report dually to the President and to the Board of Directors. Under the current structure, the President s direct reports are Vice President and Chief Investment Officer; Vice President and Treasurer/Chief Financial Officer; Vice President for Member Services; Vice President for Employer Services; Vice President of Development; and Corporate Secretary/Director of Human Resources. During the transition period, key members of management will begin reporting to the President Elect on a phased-in basis. At the conclusion of the transition period, this executive will be responsible for the overall strategic direction of the Pension Fund consistent with its mission, and will be accountable for the development, management, performance, marketing, communication and public relations for all retirement and health benefit plans and assistance programs. This executive will provide leadership in establishing shortterm and long-term objectives, strategies, policies and plans, subject to the approval of the Board of Directors. The President will also serve as the face of the Pension Fund, and represent the Pension Fund at the General Assembly, national meetings, Council of General Ministries and outside church pension fund boards. Specific responsibilities of the President will include, but not be limited to, the following: 2

3 Vision and Strategy Provide leadership in developing and communicating a vision for the organization, consistent with its mission and focused on its future success. Engage the Board of Directors and staff colleagues in implementing a visionbased strategy with measurable goals in terms of financial performance, operational effectiveness, investment performance, quality member service and risk management. Balance the realities of business with the mission of the Pension Fund and the needs of its members. Leadership Provide exemplary, innovative and inspired executive leadership for the Pension Fund as an essential ministry of the Church. Work with the Board of Directors in overseeing board development, governance and education. Oversee an effective benefits organization focused on superior plan design and operational efficiencies that enhance the quality of member/employer services. Communication Translate and interpret the Pension Fund s mission, strategy, vision, issues and other important information regarding the organization to the Directors, the broader Church, employees, members/employers, and a broad range of constituencies. Maintain and enhance key relationships within and external to the Church to help foster the Pension Fund s mission, including influencing legal and regulatory matters affecting church plans, and the social impact of investing. Represent the Pension Fund on the Council of General Ministries, General Assembly, Church Alliance and Church Benefits Association. Management Formulate and implement the Pension Fund s strategic initiatives to capitalize on market opportunities and to achieve optimum participation. Ensure the strong financial health of the Pension Fund in order to provide necessary funds for beneficiaries, for superior service delivery and for future growth opportunities. Develop financially and strategically sound business plans, and manage them within budgeted parameters in relation to strategic directives. Strive for outstanding investment performance in an unpredictable investment climate and provide stewardship of the Pension Fund s assets and resources, consistent with the values of the Pension Fund s members. Attract and manage an effective, motivated, cohesive and high-performing senior leadership team. 3

4 Implement organizational changes as necessary to meet the organization s goals. Recruit, develop and motivate senior managers to ensure depth and diversity of management to meet present and future needs, including succession planning. Work to enhance overall quality, member/employer service, delivery and efficiency for its products and services. Ensure its plan design and products are competitive, and its technology and operations are superior and secure. Enhance the visibility and reputation of the Pension Fund and its products and services through effective communication and marketing initiatives, including educating current and future participants on the retirement programs. CANDIDATE EXPERIENCE The President Elect will have a broad executive management background in financial services, nonprofit, healthcare and/or employee benefit plans, as well as success as a senior leader managing an organization in a rapidly changing economic environment. Additionally, the President Elect will possess the following qualifications: Expertise in management of a complex organization with multiple lines of activities and a diverse staff, customer base and constituency. Ability to analyze and assess relevant financial, social, economic, political and Church trends and issues, and to provide strategic direction accordingly. Experience in financial markets and a working knowledge of investment principles and strategies, risk management and pension fund management. Expertise in recruiting and developing a high level professional staff in a collaborative working environment. Experience leading highly effective service businesses, coupled with an understanding of the complexities of a service business paradigm. A proven track record of achieving organizational goals while maintaining a focus on financial accountability. Successful experience working closely and building relationships with a board of directors, and assisting the board to carry out its responsibilities effectively. A demonstrated understanding of how technology can be used to maximize business opportunities, to enhance relationships and to improve operating processes. PERSONAL CHARACTERISTICS The President Elect will be a visionary and strategic leader with the ability to embrace and manage through change. Additionally, the President Elect will possess the following personal characteristics: Ability to lead and represent the organization in a clear and compelling manner that is expressive of the Pension Fund s values, and reflects an understanding and appreciation of a faith based, nonprofit organization. Capable of getting work done through others; knows how to delegate and to get the most and best out of his/her team; understands what motivates different people; sets and communicates goals; measures accomplishments, holds people accountable and provides useful feedback. 4

5 Ability to inspire others to perform at a higher level; builds motivated, diverse, high-performing teams. A person of high character; acts in accordance with a clear and visible set of values and beliefs; has a strong spiritual base; compassionate and caring. Strong communicator; writes and presents effectively; a great listener; possesses a sense of humor. Drive for excellence to continually improve the quality of services delivered. Ability to hold the mission and success of the organization ahead of personal recognition; someone who personifies the vision and culture of the organization. Relationship builder; relates well to a wide variety of diverse styles, types and backgrounds; finds common ground; builds diverse networks. Diplomacy, political savvy; engenders confidence and credibility with diverse constituents. Innovative, imaginative and creative; someone who can quickly assess a situation, identify problems and develop solutions. Highly energetic with mental stamina to keep up with the demands of the job; intellectually curious. RELIGIOUS AFFILIATION EDUCATION COMPENSATION CONTACTS It is preferred that the successful candidate be a member of the Christian Church (Disciples of Christ). The candidate must be committed to acquiring a thorough knowledge of the Christian Church (Disciples of Christ) including its governance, organization, culture, worship, and mission. Additionally, the successful candidate will have demonstrated his/her personal faith through involvement in a religious community. An undergraduate college degree is required; an advanced degree is preferred. An attractive compensation package will be provided including a competitive salary and defined benefit pension plan. Interested candidates should contact: Anne F. Keating Telephone: akeating@fraserkeating.com Patricia Nevins Telephone: pnevins@fraserkeating.com 230 Park Avenue Suite 1000 New York, NY Telephone: (office) 5