Issue - meetings

Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) presented this report which provided an update on the risks to the Fund and actions taken to manage them.  The report also detailed the proposed risk appetite for adoption. 

In response to questions from the Chair regarding the Covid-19 risk assessment, Chris Norton advised that there had been a transient impact in terms of investment but pensions had continued to be paid and the Team had risen to the challenges presented by the pandemic thus far.  In terms of the annual accounts, the external auditors were struggling to complete their work and, therefore, these would be signed off by Council later than usual.

Members considered that it would be helpful if the risk register included the rating from the previous period and any changes made, so that any fluctuation could be more easily noted.

Resolved

1.     That the Pension Fund Investment Sub Committee noted the risk register attached to the report at Appendix B.

2.     That the Pension Fund Investment Sub Committee noted and approved the Risk Appetite statement at paragraph 2.3 of the report.