Issue - meetings

Governance Report

Meeting: 18/10/2022 - Warwickshire Local Pension Board (Item 3)

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Additional documents:

Minutes:

Martin Griffiths advised that the report encompassed a number of reports that had previously been considered on an individual basis, such as the risk register and the forward plan. It was noted that the forward plan said Hymans Robertson would be present at the next Board meeting to provide a presentation on the valuation process. There had been no need to update the training schedule since the previous meeting. However places were still available on Hymans Robertson-run knowledge and skills assessment courses if members required them. The Chair said that although the courses were useful, members did not know which questions they were answering incorrectly and how they could further improve their knowledge and understanding.

 

Martin Griffiths said the risk register had been updated to reflect recent changes in market volatility and the Fund could not control this. However there were three items on the register whose risk level had decreased following the successful implementation of mitigation measures. Risks associated with climate change had increased, as the Fund only has a limited influence of global factors affecting climate change. More robust policies had been introduced in relation to governance.

 

Responding to a query raised by Alan Kidner, Chris Norton said the key performance indicators were reviewed by officers to ensure clarity that the actions were having the desired effect. Members asked if the key performance indicators could be sent to them via email ahead of the next meeting, in addition to a paper copy being provided.

 

Members noted the contents of the report.