We strongly believe that, to make risk registers the root of good governance, the risks needs to be straightforward to understand and easy to access at any time. Our online risk registers can be reviewed and updated in real time to support decision making discussions.
A number of clients now set their meeting agendas by linking each agenda item to a relevant section of the risk register. Those risks can be reviewed online and discussed at the relevant part of the meeting. Following a material discussion or decision, the risks can be updated in the meeting. By the end of the meeting the client can see how the decisions taken have impacted the risk register, providing a real time audit trail of how the client is managing the risk.
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In the news this week, the pensions world continues to be dominated by the impact of the Covid-19 pandemic, with the Regulator publishing more guidance for employers, the FCA delaying the implementation of its drawdown investment pathways and two household name companies deferring (or missing) their deficit recovery contributions.
Over the autumn of 2019, BAC conducted an extensive survey of the actions which companies are taking to manage their defined benefit (DB) and defined contribution (DC) pension arrangements.
2019 marked 50 years since Neil Armstrong walked on the moon and this was obviously on the Queen’s mind in her Christmas message as she talked about a bumpy year but one with small steps of progress as well. In terms of pensions, it also felt like a year of small steps and occasional bumps. In this quarter’s Arena, we take a positive look back at 2019, as well as looking forward to some expected pension developments over 2020.
Despite the very different circumstances facing individual companies, bac‘s autumn 2019 survey reveals a surprisingly consistent picture of the actions which companies are finding most attractive to manage their DB and DC pension arrangements.
As DB liabilities have become legacy issues to be managed, governance has become the umbrella term for a broad range of risk management tools. In this publication, we look at the DB governance solutions we have helped our clients to implement.