Trustee Risk Management Ltd

Demonstrating A Standard Of Care

Topical regional one-day combined seminars and workshops for trustees and administrators adding value to Knowledge and Understanding

The Challenge
The Pensions Act 2004 imposes a duty upon trustees and directors of trustee companies to be conversant with their own scheme documents and to have “knowledge andunderstanding” of funding and investment principles. In addition, trustees and trustee directors must have knowledge and understanding of the law relating to pensions and trusts.

The Pensions Regulator also expects trustees and trustee directors to satisfy the legal requirement to have internal controls in place. Other issues confronting trustees include:pension scheme deficits, relationships with sponsoring employers and calls to “raise their game”. In addition, a Code of Practice has been issued to give practical guidance on the levels of knowledge, training,experience and qualifications that trustees will be required to attain.

The Solution
trustee risk management is holding a series of combined seminars and interactive workshops in conjunction with The Pensions Regulator and other leading pension practitioners to assist “knowledge and understanding” in the new regulatory/legislative environment.

The seminar programme:

• Outline of the new regulatory approach:
  The Pensions Regulator
• Legal implications for trustees:
  Leading law firms
• The importance of trustees understanding the strength of the employer’s covenant:
  Standard & Poor’s
• Ensuring the Investment Committee is properly resourced:
  EPIC Investment Consulting
• Discussion Session

Lunch

The workshop programme
The afternoon will comprise a practical workshop led by Brian Holden MBE, Chairman trm Advisory Service and The Pensions Regulator.

Delegates have the opportunity to participate in a user-friendly workshop of risk management for trustees to set objectives, identify potential risks and monitor appropriate controls.

The Pension Regulator’s Code of Practice on Internal Controls requires trustees to implement risk management procedures to ensure that their scheme has sufficient internal controls to enable it to be administered and managed effectively. Subsequent further guidance has outlined how trustees may approach this requirement.

Using trm’s risk management model, the workshop will consider how trustees can develop their own scheme’s risk management framework to assess the adequacy of their internal controls. This will cover topics including:

• Risk management as part of good governance
• Establishing a risk management process
• Highlighting risk areas
• Grading risk and establishing a register
• Effective internal controls
• Ongoing assessment and monitoring of internal controls
  

Establishing an effective risk management framework is a matter that must be addressed by the trustee board and integrated into its business plan. Trustees must take responsibility for this. Effective scheme governance is also an issue that is attracting increasing attention in the management of contract-based schemes.

This workshop is essential for trustees, members of governance committees and administrators who want to have the confidence to implement risk management in a simpleand effective manner.

General

The seminars and workshops provide an opportunity for trustees and others involved in their scheme’s risk modelling to develop their own practical measures for compliance.

Comprehensive handouts, including trm’s trustee risk management model on CD, will be available.

For further information please contact Grant Lore:

Trustee Risk Management
90 Fenchurch
Street London
EC3M 4ST

Telephone: 020 7204 2315
Fax: 020 7204 2477
Email: enquiries@opdu.com