Maestro-Solutions for

Pension Funds

Pension fund trustees must follow its constitution along with laws and regulations.

Requirements

Pension funds have to comply with the regulations in their jurisdiction along with optional “best practice” guidance/recommendations. Pension Fund Trustees are personally responsible for ensuring they fulfill their responsibilities and safeguard the schemes assets for the benefit of the beneficiaries. Examples of where the GRC-Maestro platform can help Pension Funds and their Trustees include:

  • Manager Selection – manage the selection process for external managers to evidence the basis for appointment
  • Due diligence monitoring – periodically assess third party investment manager’s compliance with the terms in the Investment Management Agreement
  • Exception reporting – log, manage and resolve ad-hoc issues regarding the administration/management of the Pension Trust

GRC-Maestro gives Pension Funds and their Trustees, the ability to control and manage both existing and proposed regulatory requirements by automating manual checks and recordkeeping.

Challenges

Pension funds are increasingly tightly regulated, and the Trustees are under increased pressure to show they acted in the interest of the beneficiaries:

  • Cost pressures – Administrative and third-party costs directly impact the value of the fund which requires additional contributions from the beneficiaries and/or plan sponsor
  • Regulatory requirements – increased regulation is impacting the pension fund sector and they need to upgrade their internal processes, procedures and controls to remain fully compliant.
  • Flexibility – as new regulations are implemented it is necessary for each mutual to have systems in place that can be easily adapted to the new requirements without expensive upgrades or consultants.

GRC-Maestro addresses the governance, risk and compliance challenges of Pension Funds by supporting current and future requirements on a single, low cost, platform.