IORP II Compliance For Pension Funds
The objective of IORP II is to continue the development of workplace pensions and retirement savings in Europe to provide pension scheme members with better and sustainable financial outcomes for life after work. Now that IORP II has been transposed into legislation across Europe, trustees have to comply with new and additional regulations in the areas of risk, pension scheme management, governance and member communication. Given the amount of work involved in incorporating IORP II, pension scheme trustees should not be waiting to implement their compliance strategies.
We have partnered with Timothy Corcoran of Benefits Services to provide pension schemes with an independent, compelling and competitive risk focused IORP II solution. By combining our philosophy, knowledge and experience within the pensions and risk management fields, we ensure better outcomes for members, trustees and employers that result in compliance with governing legislation and regulations.
With our solution, the role of the risk management function holder is fully outsourced through the appointment of one of our experts, while our risk team will provide support with the execution of the tasks related to the risk management function.
How does Finalyse address your challenges?
Support with implementation of the key functions into the governance framework
Implementing a Risk Appetite Framework by setting risk objectives and tolerance levels
Support with implementing and performing of ORA, including a forward assessment of quantifiable and non-quantifiable risks
Drafting and reviewing relevant policies such as investment policy, ORA policy, communication policy and remuneration policy
Measuring and managing investment risks (including derivatives, hedging, ALM and defining the SAA)
Management of risks including operational risks, liquidity risks, concentration risks and ESG risks
Key Features
- You can appoint one of our experts to fulfil the risk management function.
- Our risk team will provide support with the execution of risk related tasks such as risk identification and quantification, scenario and stress testing and dedicated support with board meetings and risk committee meetings.
- Independence from other stakeholders involved such as the pension fund's actuaries, consultants, administrators and auditors.
- Cost-effective solution that is tailored to your specific requirements.
Our subject matter experts
Frans is an actuary and Financial Risk Manager with international experience in the pensions and insurance sectors. He has been specialising in climate change risk management, actuarial valuations (AXIS), financial reporting (IFRS17, IAS19), regulatory reporting (BMA EBS, Solvency II, ICS, IORP II), market risk management (ALM, SAA) and investment consulting.