Issue - meetings

Neil Buxton, Technical Specialist - Pension Fund Policy and Governance, presented this report to the Board and explained that a more comprehensive report would be brought to the Board in September which would also reflect an updated way of monitoring risk, focussing on risk appetite and openness to risk. 

In response to questions, Neil Buxton advised that the risk register used the County Council format but that elements of the Local Government Association’s format would be taken into account.  The quarterly timescale also followed the timescales set out at County level.

Neil Buxton also confirmed that most of the risks had been assessed as amber and the register also detailed the actions that had been implemented to mitigate risks.  By way of example, he noted risk 002 regarding employer / employee contributions not being paid – was not a particular risk whilst the administration service was managed by Warwickshire County Council but that risk would increase once the Service was outsourced.

In response to a discussion regarding the escalation of risk, Liz Firmstone, Service Manager (Transformation), noted that the new corporate risk framework had escalation processes built in and the Team would be undertaking an exercise to review this risk register against the new framework.  She explained that the new corporate framework had a slightly different risk matrix which provided for a more discerning risk score. A report that would be brought to the Board in September would highlight the key features of framework and how risks were reviewed and be clear on the process of escalation.

In response to a discussion on the escalation and scoring of risk 002 - Employee / employer contributions not paid, Vicky Jenks, Pensions Admin Delivery Lead, advised that there had been an issue with the correct contributions being deducted which had been identified and processes put in place to recognise problems at an early stage and therefore this risk had currently been assessed as green.  It was agreed that this would be considered again for the next register.

The Board noted the content of the report.