ERM For Pension Funds and sponsors [11]

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Bullet points include: Characteristics of successful ERM frameworks: Vision and strategy is set by Board / governing body, Risk is owned by the business … with risk management (RM) an enabling process, Governance framework is appropriate to nature, scale and complexity of the entity and its risks. Ideally: Risk decisions are integrated with decisions concerning business operations, Framework promotes desired cultural and behavioural expectations, All material risks are addressed in a consistent manner on an enterprise-wide basis, within a well defined RM policy, Framework allows for improved capture of upside opportunities and mitigation of downside risks

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