Risk Management

Trustee Risk Management Framework

We are experienced in helping trustees understand and manage risk in a way that sets you up for success to achieve your objectives and have peace of mind over the running of your scheme.

We can help you get clarity on why certain risks should be managed over others and where your focus should be given your scheme’s circumstances.

Our team of experienced risk experts can act as risk manager or risk adviser, bringing our insights so that you’re able to focus on what’s important.  

To enable you to address operational matters that might otherwise de-rail your strategic plans, we help you understand the effectiveness of your controls, by considering how they are designed and how they operate. 

We can also ensure that you receive the right information in the right way from your service providers, whether they are in-house or third party, so that you get the assurance you need. 

Risk Register Review

Trustees make most use their risk register when it is an integral part of decision making. Understanding the risk profile of your scheme helps you to stay focused on the big questions and decisions that are relevant to you.

By monitoring controls and issues, problems can be surfaced quickly and action taken.

We can review your existing risk register to ensure it is a useful and meaningful tool, containing your scheme-specific risks and controls, develop a new one or help you find and implement an online risk management system.

Own Risk Assessment

We have been undertaking ORAs since 2021, bringing an independent view. Our team is experienced and knowledgeable, bringing hands-on pensions management, governance and technical risk expertise.

We take a pragmatic approach ensuring an objective assessment of the effectiveness of your systems of governance and risk management so that you know what your priorities are and where you need to focus your time on taking action. 

Business Continuity Planning and Incident Response 

We can help you be proactive when a serious event/ significant disruption happens, ensuring critical scheme operations are maintained, by documenting a business continuity plan.

We can work with you to be prepared for incidents that could jeopardise your ability to meet critical activities or make time-sensitive strategic decisions by documenting an incident response plan. 

We can scenario test your incident response plan to check how well your third-party providers would communicate with you and how well the plan would work in a real-life event. We can also consider how you would communicate in different situations.

Risk Appetite, Tolerance and Key Risk Indicators

We can help you consider how much risk the trustee is willing to take. 

We can work with you to agree your tolerance levels, setting quantitative and qualitative parameters, so those operating the scheme day-to-day know what your expectations are. This in turn informs the management information you receive as the right risk metrics/ indicators will be included which are specific to your risks and what’s important to you. 

Similarly, this understanding means those managing the scheme know what needs to be escalated so that risk events or issues are reported to you in the right way to do something about.