Course Details

Pension Plan Governance and Oversight Training: Ensuring Responsible Management and Protecting Member Benefits

INTRODUCTION

Strong governance and effective oversight are essential for the sound management of pension plans, ensuring that they are operated in the best interests of plan members and that their assets are managed prudently. This Pension Plan Governance and Oversight training course provides a comprehensive understanding of the principles and best practices of pension plan governance, covering topics such as fiduciary responsibilities, board roles and composition, risk management, compliance, and stakeholder communication. Participants will learn how to establish effective governance structures, implement robust oversight mechanisms, and promote transparency and accountability in pension plan management. This essential governance training is ideal for pension plan trustees, board members, administrators, and anyone involved in the oversight and management of pension plans. This course covers key areas like fiduciary duty, board governance, risk management, and compliance, empowering you to become a knowledgeable and effective leader in pension plan governance.

DURATION

5 days

TARGET AUDIENCE

This course is designed for a broad audience, including:

• Pension Plan Trustees: Individuals responsible for overseeing the management of pension plans.
• Board Members: Individuals serving on pension plan boards or committees.
• Pension Plan Administrators: Individuals managing the day-to-day operations of pension plans.
• Human Resources Professionals: HR managers and benefits administrators involved in pension plan governance.
• Anyone involved in pension plan oversight: Individuals seeking to improve their understanding of pension plan governance.

COURSE OBJECTIVES

Upon completion of this course, participants will be able to:

• Understand the principles of good governance in pension plans.
• Define and apply fiduciary responsibilities.
• Establish effective board structures and composition.
• Implement robust risk management frameworks.
• Ensure compliance with relevant regulations and legislation.
• Promote transparency and accountability in pension plan management.
• Communicate effectively with stakeholders about governance practices.
• Evaluate and improve the effectiveness of pension plan governance.

COURSE MODULES

• Introduction to Pension Plan Governance:

• The importance of good governance in pension plans.
• Key principles of effective governance (accountability, transparency, fairness).
• The role of different stakeholders in pension plan governance.
• Legal and regulatory framework for pension plan governance.

• Fiduciary Responsibilities:

• Defining fiduciary duty and its implications.
• Understanding the duties of care, loyalty, and prudence.
• Avoiding conflicts of interest and prohibited transactions.
• Liability and indemnification for fiduciaries.

• Board Roles and Composition:

• The role of the pension plan board or committee.
• Best practices for board composition and diversity.
• Board responsibilities for oversight and strategic direction.
• Board performance evaluation and succession planning.

• Risk Management:

• Identifying and assessing key risks facing pension plans (financial, operational, compliance).
• Developing and implementing a risk management framework.
• Monitoring and reporting on risk exposures.
• Business continuity and disaster recovery planning.

• Compliance and Legal Issues:

• Understanding relevant regulations and legislation (ERISA, etc.).
• Implementing compliance policies and procedures.
• Managing regulatory audits and investigations.
• Legal considerations in pension plan administration.

• Investment Governance:

• Developing an investment policy statement.
• Selecting and monitoring investment managers.
• Asset allocation and diversification.
• Performance measurement and reporting.

• Communication and Transparency:

• Communicating effectively with plan members and other stakeholders.
• Promoting transparency in pension plan operations and decision-making.
• Disclosing relevant information about plan performance and governance practices.
• Building trust through open communication.

• Evaluating and Improving Governance:

• Regularly reviewing and assessing the effectiveness of governance practices.
• Identifying areas for improvement and implementing changes.
• Benchmarking against best practices and industry standards.
• Staying current with evolving governance trends and challenges.

 CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com