Integrated Risk Management

Minimising risk through a structured process

How we can help

Trustees of defined benefit schemes have an obligation, under the guidance of The Pensions Regulator, to examine the interaction between three component risks:

  • Employer covenant
  • Investment
  • Funding

The objective of an Integrated Risk Management program is to manage and mitigate the risks inherent in defined benefit schemes.

Our experienced and qualified team can take a close look at how each of these components align, prior to recommending an Integrated Risk Management framework and implementing any potential contingency plans that may need to be established.

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Pensions Governance services

Many trustees have had their fingers burnt in underestimating the value of good governance and yet, it is a critical factor in determining the funds’ success. We will advise and help you adhere to every aspect of governance, ensuring that the rewards from having a good pension scheme in place are realised.

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    Data management

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    Communications strategy

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    Member access, including online modelling facilities

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    Scheme accounting services

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    Payroll services

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    Member engagement and monitoring strategy

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    Record keeping

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    Systems and procedures

Our 5 Step framework which can be accommodated by most schemes

Step 1: Planning 

  • Determine the scheme and employer’s objectives
  • Agree a relevant proportionate approach

 Step 2: Risk Identification and Assessment 

  • Identify funding, investment and covenant risks
  • Assess the impact and interaction between each risk
  • Assess the employer’s ability to support the scheme and capacity of risk in comparison to that of the trustees

 Step 3: Risk Management and Contingency Planning 

  • Assess the current position and determine whether the employer and trustees are comfortable or whether changes are required
  • Understand how the employer covenant may impact on the investment and funding strategies, and develop contingency plans should strategies need to be revised

Step 4: Document the Framework and Decisions 

  • We bring clarity and assist with ongoing monitoring and core efficient decision making, with a focus on the main decision points

Step 5: Cyclical Risk Monitoring

  • The framework doesn’t finish at this point! High level monitoring is carried out at least twice a year to periodically reappraise, respond quickly to emerging risks, and implement further action plans

Get in touch

Broadstone is a team of experts who are passionate about the ever-changing world of pensions and benefits. As such, they have hundreds and thousands of ideas, views and events to share with you to meet your business needs. Our business believes and promotes a people first culture, both internally and to you, our clients.

We believe in our core values and the culture they deliver. We know that when we all work as a team and combine our vast reservoir of expertise and knowledge, we will deliver results to our clients, maintaining the personal touch that can be so often missing in today’s business world.

100 Wood Street, London, England, EC2V 7AN
P: 020 3869 6900  | Ecorporate@broadstone.co.uk