YourView is bac’s online training and evaluation tool designed to help trustees evaluate the strength of their governance, decision-making and advisers. YourView also provides bespoke online training modules to help trustees work through real-life scenarios and evaluate the strength of their scheme’s risk framework.
YourView has multiple modules that clients can use to evaluate their governance:
- governance assessment – this module provides a sense check on your complete governance framework and suggests areas that could be improved
- stakeholder views – a bespoke online questionnaire module that allows you to gather and analyse key stakeholder views
- scenario training – this module can be used to offer tailored training to Trustees or other key stakeholders on a wide range of scenarios or issues relating to the management of their scheme.
We recently ran a day long trustee training session for the trustee board of a large pension scheme who wanted to evaluate their existing governance framework. In addition to reviewing their wider governance framework, the trustees were keen to consider the support they received from both external advisers and the in-house pension team. We started the day by running an online confidential questionnaire to pull together the trustee’s initial views on the scheme’s governance.
We then ran a series of “what if” scenarios with the trustees to explore how they felt their existing governance would cope with issues such as a large scale buy in or corporate take over (including the trustees’ confidence in their advisers to support such a scenario). The trustees worked through the specific issues and risks they would have to manage in each scenario and how that would be supported by the scheme’s current governance framework.
We then re-ran the original questionnaire to re-test the trustees’ views on their governance framework. This process brought out several areas of scheme governance that the trustees originally considered acceptable but after working through the scenarios identified as areas where there was scope for improvement.
By running the session online, even though all the trustees and advisers were together, the trustees could offer confidential views in a real-time way that enabled immediate and honest discussion.
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