At Muse Advisory we believe that trustee boards should not just assume that they are operating effectively, but should shine a spotlight on their own performance issues.
Our Trustee Effectiveness Assessment (TEA) service is specifically designed to facilitate challenge to established practices and to help trustee boards and committees identify shortcomings.
Finding time to step back to review your own performance is always difficult which is why we have developed a process that can be completed quickly and easily on line. The assessment process can be supplemented with one to one meetings. All input to the assessment process is analysed to identify issues of concern that are then highlighted in a report in which all feedback is anonymised. The report can form the basis for a facilitated discussion at a board or committee meeting.
If you agree that trustee boards must not be the ‘weakest link' in the pension governance chain then perhaps it's time for TEA.
Contact us to receive a copy of our brochure 'Trustee Effectiveness Assessment: myths, realities and tips for success' or download a PDF copy here.
Case study: SAUL in the spotlight
The University of London's superannuation pension scheme (SAUL) undertook a comprehensive self-assessment of their effectiveness as a trustee board. Muse Advisory partnered with SAUL to facilitate this review and provide guidance on the self-assessment process.
A key aspect of the review was to harness the benefits of new technology which would make a significant contribution to the administration of the process, enhance data collation and allow focus on the analysis and interpretation of results.
The SAUL facilitated self assessment was a five-step process:
- Interviews carried out to investigate and reflect on current practice
- Assessment process designed to meet SAUL's particular requirements, based on the Muse Advisory Pension Governance Framework
- Administration of the trustee effectiveness assessment undertaken
- Data collated and interpreted
- Results presented and discussed
On completion of the process Dennis Buckley, Chairman of the Trustee Board commented: "The exercise was comprehensive yet simple, customised to our scheme and very effective. It really helps Trustee Boards to address their effectiveness and the confidential nature of the exercise helps issues surface that often get overlooked".