IRELAND – Anne Maher is due to step down resign as chief executive of Irish pensions regulator the Pensions Board after 10 years in the role.

The Pensions Board - responsible for regulating occupational pension schemes, Personal Retirement Savings Accounts (PRSAs), and advising the social and family affairs minister - is currently advertising the post, which demands a minimum of 10 years’ senior management experience.

According to reports, Maher plans to step down from a full-time position and do some consultancy work and other part-time work.

Last week the Board revealed that almost a third of defined benefit pension funds had failed to meet the funding standard in 2005.

Maher’s successor will be responsible for the ongoing management and administration of the Board, and will implement its strategies, policies and decisions.

The successful candidate will also be instrumental in leading and developing human talent throughout the organisation, and will monitor the adequacy of organisational resources.

“Your principal accountabilities will include monitoring effective compliance with the requirements of pensions legislation, developing pensions policy for consideration by the Board, representing the Pensions Board and acting as its public face in its key external relationships,” said the job advert.

“You will be responsible to the Board for governance and financial performance and will report annually on all of the Pensions Board’s activities in accordance with the Pensions Act,” the advert continued.

According to the Board, the new CEO must demonstrate significant ability to think and plan strategically, to get the best from staff and to understand public sector procedures.

The closing date is August 4. Maher’s successor is due to be appointed before the end of the year.