Risk Management

Good risk management is a key factor in experiencing good outcomes. By mitigating and managing risk you will be better able to focus on other key issues. Risks and the appropriate level of risk will be different for each scheme and each employer. We can help you to identify risks and establish procedures and controls specific to you and your needs.

Risk management is vital

The key areas of our risk management services fall under the following headings:

Risk reviews, integrated risk management and business continuity plans

The first step in risk management is to identify all relevant risks. We are extremely experienced in this area and our independence allows us to view your risks with a fresh pair of eyes
For more information about Integrated Risk Management please click here
We can help mitigate all different types of risk, from employer covenant, funding and investment through to data protection, cyber security and member data.
We are experienced in establishing appropriate controls, processes and ongoing procedures to manage risk.
We help our clients to mitigate the risk of business failure by building resilience and improving crisis readiness through our business continuity services.

Mitigation through appropriate policy documentation and controls

Vast numbers of processes and decisions are needed to run a pension scheme. Documenting these helps to reduce the exposure to risk. The documentation should include plans for dealing with any issues that may arise.

We would love to discuss your processes and procedures with you. Our approach is to understand our clients' needs and develop their policies to ensure they work for them - one size does not fit all.

Data management

Data needs to be reviewed for many different reasons, ranging from day-to-day administration to preparation for a transaction.
We have a wealth of experience of helping clients review and improve their data to meet their various different objectives. We are not always the administrator of the scheme in question - in fact a fresh pair of eyes can be very helpful when reviewing data.

Internal controls and risk management

It is essential that the controls in place remain appropriate and effective. Frequent monitoring and assessing of risks means that new risks or changes to risks can be identified and the appropriate action taken promptly.